Trade Tuesday: The Rise of eCommerce
Abigail Bundi, CEO Amari Consulting
‘Last year e-commerce traded $3.5 trillion worldwide proving that it’s an increasingly lucrative option for businesses. It’s no longer a question of whether we should sell online or not, it’s HOW’
Last week, I had the privilege to attend the 2nd ePower Forum, the place to be for women in business who are looking to leverage eCommerce to scale.
The ePower Forum is a series of quarterly events organized across different sectors/industries to help drive the e-commerce agenda in Africa. The event is convened by Amari Consulting Ltd in line with its mission which is to help African businesses harness the power of the internet and scale.
For the 2nd edition of the forum, Amari Consulting partnered with OWIT Nairobi, Trade Mark East Africa & the East Africa Women In Business Platform to host 150 women in business – and provide them with insights into how they can capitalise on the rise of eCommerce, in light of the opportunities presented by the African Continental Free Trade Area (AfCFTA). The AfCFTA is a free trade agreement whose main objective is to create a single continental market for goods and services, with free movement of investments and trade people across the African continent.
eCommerce has opened new vistas of opportunity for women entrepreneurs across Africa, helping them grow phenomenally. McKinsey projects eCommerce would be worth $75bn in Africa’s leading economies by 2025. In Kenya, eCommerce could be worth over Sh400billion in the long term, presenting lucrative revenue opportunities for women in business.
eCommerce offers an opportunity for small businesses, particularly those led by women to access cross border trade, opening larger markets and eliminating costly intermediaries. Integrating eCommerce-friendly provisions into the AfCFTA will help to ensure that women are benefiting from increased trade across the continent. One International Trade Centre survey found that the share of women-owned enterprises doubled when moving from offline trade to cross-border eCommerce. Eliminating barriers to cross-border eCommerce can contribute to reducing gender inequality in trade.
If you’re a female business owner, it’s time to jump on the e-commerce business boom! It’s important to have an eCommerce strategy – to take a studied approach, rather than being all over the place.
Organisations like OWIT & EAWiBP partner with companies like Amari to provide cost effective support to women in business who want to get it right the first time around, rather than take the trial & error approach. Reach out to the OWIT Secretariat for more information about how you can connect with Amari and take advantage of the rise in eCommerce to scale your business.
Board Advisor, OWIT Nairobi
Founder & EQ Practitioner, PTS Africa
For more information about OWIT Nairobi – visit our website, www.owitnairobi.org