E-commerce Market Penetration: Nigeria among top five African countries

Hauwa Abubakar

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A study by research firm, Statista, has shown that the market penetration rate in e-commerce in Africa is forecast to experience significant growth in all regions between 2023 to 2027, with Egypt recording the most growth with 70.13 percent by 2027.

For 2023, Egypt still leads the ranks with 55.37%, followed by South Africa with 49.36%. Kenya follows with 46.66% and Nigeria takes fourth place with 45.27% market penetration/growth rate.

Morocco follows with 40.66%, making them the top five countries with the highest e-commerce market penetration rate in Africa.

“From the selected regions, the ranking by penetration rate in the E-commerce market is forecast to be led by Egypt with 70.13 percent,” a summary of the report titled “E-commerce market penetration rate in selected African countries in 2023 and 2027” published on its website said.

By 2027, Egypt is projected to hit a 70.13% penetration rate, Kenya 63.86%, South Africa 59.69%, Nigeria 58.58% and Morocco 46.32%