If you thought starting an online business was tough, you are in good company. Listen to Jack Ma’s message at Gateway ’17 in Toronto in September 2017:
More and more e-commerce experts are heading to Africa. This trend shows the potential of e-commerce companies in Africa and the potential ahead. Internet penetration and smart phone use is on the rise, and this can only lead to huge profits ahead for e-commerce companies in Africa.
Jack Ma from Alibaba has recently made the rounds in Africa.
Found any good deals on Alibaba’s Singles Day?
Here are some interesting facts:
- Mobile phones accounted for 69% of transactions during the promotion.
- Transactions had passed last year’s record of $9.3 billion before noon.
- Top-selling items by retailers included baby-related and nutritional products, Nike sneakers and Levi’s jeans.
- Alibaba makes money through advertising and charging vendors a proportion of their sales.