According to the United Nations, the Northern Africa region consists of 7 countries and is populated by 256 million people. Major economies in the region are Egypt (GDP 402.84 bn USD), Morocco (GDP 131.47 bn USD) and Algeria (GDP 164.56 bn USD).
Digital infrastructure in the region is well established via internet and mobile connections. More than 63% of the regional population have access to the internet and it is estimated that over 95% are connected by mobile phones. Today, the E-commerce market is 11.1 billion USD and is expected to further grow by 19% 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.
Here are a few Northern African opportunities that international merchants should consider:
● Morocco with its 37 million people has one of the highest internet penetration of Africa, with more than 84% of the population having access to the internet and more than 95% of population having access to mobile phones. E-commerce volumes exceed 1.6 billion USD today with a growth rate of stunning 18% YoY. By 2027 it’s expected that more than 19 million Moroccans shop online.
● More than 72% of 104 million Egyptians have access to the internet and more than 90% have access to mobile phones. Current e-commerce market of 6.85 billion USD is expected to grow to 15.76 bn USD by 2027, when almost 85 million Egyptians are expected to shop online.