According to the United Nations, the Northern Africa region consists of 7 countries and is populated by 275 million people. Major economies in the region are Egypt, Morocco and Algeria.
Digital infrastructure in the region is well established via internet and mobile connections. Over 84% of the regional population above 15 has access to the internet and it is estimated that 94% are connected via mobile phones. Today, the E-commerce market is valued at 29.6 billion USD and is expected to further grow by 24.7% (CAGR) YoY.
As for payments, cash payment options are still very widely used by Northern African population, but wallets and Mobile Money Payment Options are growing fast.
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Population 275.7 M -
Land size 7,769 M KM² -
GDP 908.9 Bn USD -
Median age 25.3 Yr
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E-commerce market revenue 29.6 Bn USD -
E-commerce growth 24.7%
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People with mobile phone (% age 15+)94.5%
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People with internet access (% age 15+)84.2%
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People with bank account (% age 15+)31.6%
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People with credit card (% age 15+)2.6%
- Mobile Money users (41.8 M)
- Total population >15 years
Here are a few Northern African opportunities that international merchants should consider:
● Morocco with its 38 million people has one of the highest internet penetration rates in Africa, with more than 90% of the adult population having access to the internet as well as access to mobile phones. The E-commerce market exceed 5.4 billion USD today with a compound annual growth rate (CAGR) of stunning 22.2%. By 2029, it’s expected that the E-commerce market will reach almost 12 billion USD.
● More than 90 million Egyptians are internet users and more than 90% of the adult population has access to mobile phones. The current E-commerce market of 11.7 billion USD is expected to grow to 35.4 billion USD by 2029.
