Google News, Inc. (NYSE: GOOG) (NASDAQ: GOS) and The Economist (NYSE.ARCA: E) have published an article titled “Africa’s e‐commerce market set to boom by 40%” which describes South Africa as a market that has “become a key driver of growth in the region.”
Africa is Africa’s largest continent, with a population of more than 4 billion people.
The continent is home to more than 200 countries, the largest of which are the three African countries, South Africa, Nigeria and Ghana.
The country’s population grew by more than 17 million between 2013 and 2015, according to the South African National Statistical Office (SANS).
In 2017, the country recorded its first increase in growth since 2010, as the economy grew at a 3.9% annual rate.
South Africa’s market share in the e-tailer market grew by 25% in 2016 and by 35% in 2017.
The growth in e-shopping is driven by the country’s growing middle class, who spend a large percentage of their income on e-tailing, according Toi Wibbertson, an analyst with Gannett South Africa.
“The middle class is increasingly using e-stores, and there’s a shift towards online shopping,” he told Bloomberg.
South Africans are also increasingly purchasing products online.
The government recently opened a digital shopping platform, e-surcharge, which allows consumers to purchase goods online.
That move comes at a time when online shopping is gaining traction in the country.
“There are more and more consumers choosing to buy online, as they’re more inclined to do so,” Wibberson said.
“We’re starting to see the middle class and the lower-income consumers start to shop online, which is very important.”
Africas economy is set for another big boost in the coming years.
The global economy is expected to grow at a 2.5% annual pace in 2021, according the World Bank.
That growth is expected be driven by an uptick in the supply of goods and services that South Africa is experiencing.
In addition, the government is also looking to export some of its agricultural output to developing countries.
South African GDP grew by 2.8% in 2021.