With a billion Africans set to shop online, a new wave of start-ups is looking to cash in (Infographics)


Africa’s middle class is rising and they have money to spend. About a third of the continent spends between $4 to $20 a day—a group that is expected to grow to 42% by 2060, according to data from the Africa Development Bank. That’s more than a billion people.

Consumption on the continent rose to more than $1 trillion in 2012, from $364 million in 2000, an annual rate of growth of 10.7%.

With deepening internet penetration, some of this spending is starting to happen online. With 50% of the continent expected to have access to the internet by 2025, online shopping could account for 10% of retail sales, or $75 billion, according to a McKinsey report.

Read more: With a billion Africans set to shop online, a new wave of start-ups is looking to cash in – Quartz

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