African entrepreneurs eye digital platforms to expand footprint

Source: Xinhua| 2018-12-12 04:29:52|Editor: Mu Xuequan
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NAIROBI, Dec. 11 (Xinhua) -- The new generation of African entrepreneurs are keen to harness opportunities provided by mushrooming digital platforms to expand their operations across the continent and beyond, executives said on Tuesday during the inaugural Africa e-commerce week underway in Nairobi.

Speaking at a high-level dialogue on trade and the digital economy in Africa, the founders of leading start-ups in the continent said that online trading will unlock the potential of indigenous enterprises.

Anna Ekeledo, executive director of Afrilabs, a Nigeria-based Pan African network of technology and innovation hubs, said that targeted use of digital platforms will enable local enterprises to explore new markets and expand their revenue streams.

"The digital commerce space has not been fully exploited here in Africa hence the need for our entrepreneurs to leverage on its benefits to propel growth," Ekeledo noted.

Kenya is co-hosting the five-day Africa e-commerce summit with the African Union and EU that is being attended by ministers, industry executives, innovators, researchers and donors to explore new strategies to boost digital economy in the world's second largest continent.

President Uhuru Kenyatta during his address at the summit encouraged young African entrepreneurs to seize opportunities presented by a digital revolution to promote cross-border trade.

Nicolas Martin, chief executive officer of e-commerce giant Jumia Africa, said that investing in digital platforms to reach out to young and tech-savvy African consumers is commercially viable.

"Africa should be considered the next growth frontier in the global e-commerce space because of high internet penetration and smartphones ownership," said Martin.

Ethel Cofie, director of Accra-based Edel Technology Consulting, said that enterprises run on digital platforms are likely to weather supply chain disruptions while developing a stronger brand loyalty with consumers.

"It is possible to produce the next e-commerce giant from the African continent but there must be a friendly regulatory environment, infrastructure and massive capital injection to realize that ambition," Ethel said.

She noted that African digital entrepreneurs could reap dividends if they focused on sectors with high potential for growth like agriculture, retail, transport and energy.

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