How operator MTN is creating Africa’s version of Amazon, Netflix and Alibaba combined
6 April 2018
Africa is a world leader in areas like mobile banking and money, with new opportunities opening up in digital media and ecommerce. Speakers at IADS 2018 identified affordable access, shared infrastructure, and forward-looking regulation as key requisites to fully realise Africa’s digital future.
Ecommerce and content giants of the world such as Amazon, Netflix and Alibaba are not active players in the Africa market as yet, which leaves the door open to local players to dominate this space.
Herman Singh, Group Chief Digital Officer of pan-African operator MTN Group, said: “Africa represents a huge untapped ecommerce opportunity. Africa’s key megatrends bode well for the development of ecommerce.”
Along with Goldman Sachs, Rocket Internet, and other investors, MTN has invested $326 million in the Africa Internet Group, the parent of Africa’s largest ecommerce player, Jumia. MTN has also partnered with Jumia to launch an Entrepreneurship Challenge to help solve the continent’s pressing problems.