In 2016, global eCommerce sales are expected to reach just shy of $2 trillion; Africa represents only about 2% of this. What is driving the eCommerce environment in Africa however, is the continuing rise of mobile connectivity and the rapid development of fintech products. Just over 80% of African adults do not have access to traditional banking, yet the continent boasts more than 220 million registered mobile money accounts.
Tapping into this increasingly connected and tech-savvy market is the focal point for all eCommerce vendors. From our findings at the 2nd eCommerce Africa Confex in February 2016 it was clear that the next step in our evolution would be to include a FinTech/mobile payments focus.
Out of hours of discussion with numerous industry leaders, the eCommerce Africa Confex 2017, powered by Kinetic, will now incorporate Money Africa. The rise of telecom-driven financial services has left many banks and financial institutions chasing the market. FinTech products are creating a cashless society, facilitating borderless transactions, and encouraging frictionless peer-to-peer financing.
In East Africa alone, over $3 million worth of transactions are expected to take place through FinTech platforms every hour, every day. The future of financial services and payments is geared towards customer service, driving loyalty, creating new revenue streams and services, and banking the informal trading sector.
Money Africa 2017 will examine how your existing business should align itself with this junction of mobile, retail and financial services, marketing capabilities, customer data and peripheral technology. The eCommerce conference sessions will examine various aspects of development in the industry: how online and mobile retailers are capitalising on growth opportunities; how omni-channel retailers are moving into a digital space; where the consumer is driving their own experience; the realities and challenges of cross-border expansion; and overcoming fulfilment concerns and driving logistics in the real world.
The Annual eCommerce Africa Confex, powered by Kinetic for a 3rd year, will again take place at the CTICC on 22-23 February 2017. For more information, contact firstname.lastname@example.org or visit www.ecommerce-africa.com