Small scale and large scale entrepreneurs have taken the advantage of the effectiveness of the media and technology, including e-commerce to promote and market products, reaching every corner of the globe without fatigue. What is e-commerce and how has it been beneficial to entrepreneurs?
Assuming you live in Asia, Europe or America, would you like to travel thousands of kilometers for a product you want desperately in South Africa? Taking such a journey is not only waste of time but also money. Remember time is money. Through the birth of modern technology, e-commerce acts as a facilitator in getting your message to the manufacturer to send the consumer whatever he is looking for online.
Thus; E-commerce is online shopping making it easier for consumers to purchase products via the internet from manufacturers. E-commence enhances business to reach beyond consumer base and access global markets like never before. Last year, November 18, delegates at the ‘Sixth Annual European Conference highlighted on the effect and impact of in E-commerce generally in Europe.
The European E-Commerce sector is said to worth an estimated 350 billion Euros and it is predicted to create 1.5 million jobs in Europe by 2018. The writer takes a look at the impact and benefit of e-commerce in Africa’s business. The effect of E-commerce business in the African continent is enormous, changing the face of the traditional consumer.
Internet trade has made it easier for African entrepreneurs to search for quality products online, compare prices and purchased products. According to research by Google South Africa, there was an increase of 49% in query volumes in Nigeria, 37% in South Africa and 33% in Kenya, during 2014. E-commerce hasn’t been beneficial only to African entrepreneurs, consumers and manufacturers, but also attracted widely investment opportunities alike.
Some of the African countries with booming E-commerce markets, transforming the economic landscape are Senegal, Morocco, Mozambique, Ghana, South Africa, Nigeria, Egypt, Tanzania, Cameroun, and Kenya. At the epicenter of Africa’s thriving economy and business, E-commerce has driven hundreds of businessmen to success, in different fields, especially the mobile telephone industry. In the year 2010 alone, the Ghanaian government made GHC598 million in taxes and levies, representing 10% of government income for that year.
The secret to every successful business depends on the variety and quality of the products. E-commerce holds a ray of hope for African entrepreneurs and small scale business. It seems after gaining the political independence; Africa folded its arms, waiting for a miracle to come from heaven. God helps those who help themselves, now Africa is gradually emerging from the realms of poverty through the eye of E-commerce.