Following the UN’s definition of Southern Africa, the region is made up of 5 nations and has a population of 74 million. South Africa, Botswana and Namibia are the major economies in the region.
While it is the smallest of all African regions (both in size and population), it is home to some of Africa’s most developed countries on the UN’s Human Development Index. Infrastructure is well developed – more than 86% of the region’s adult population has access to internet, and more than 90% of the adult population has access to mobile phones. E-commerce volumes are above 8.4 billion USD today and further growing by 28% (CAGR). By 2029 it is expected that the region’s E-commerce market will be valued at 22.7 billion USD.
With regards to payments, the region shows much higher access to the banking system and cards than any other African region. More than 80% of the adult population have access to bank accounts and also the usage of cards is above the African average.
-
Population 74 M -
Land size 2,650 M KM² -
GDP 419.4 Bn USD -
Median age 27.9 Yr
-
E-commerce market revenue 8.4 Bn USD -
E-commerce growth 28%
-
People with mobile phone (% age 15+)94.5%
-
People with internet access (% age 15+)86.5%
-
People with bank account (% age 15+)80.5%
-
People with debit or credit card (% age 15+)57.4%
- Mobile Money users (14.2 M)
- Total population >15 years
Here are a few opportunities to not miss out on in the region of Southern Africa:
● Botswana is a fast-growing economy in the region and has a very well-developed infrastructure: Over 90% of the adult population have access to internet and access to mobile phones. Learn more about opportunities for your business in Botswana.
● South Africa is the most industrialized nation on the African continent. English, along with ten other official languages, reflects the nation’s multicultural identity. Southernmost African country possesses E-commerce market size of 7.3 billion USD which is expected to grow fast by 28.6% (CAGR), reaching almost 20 billion by 2029. Learn more about South Africa.
