Africa
Logistics
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Africa Logistics
While Africa is surrounded by the Atlantic Ocean and has some of the longest waterways in the world. African countries are in fact becoming the “beautiful bride” of many industrialized nations and international businesses.
The World Bank, IMF and World Economic Forum, insist that the continent’s growth has been exemplary and that greater integration of this market into the global trade system and supply chains offers opportunities for accelerated economic growth.
UN World Population Prospect report estimates that by 2050 Africa will be home to 2.4 billion population, providing the continent with a strong demographic dividend.
And that mushrooming demographic, comprising professionals and business people with increasing disposable income, has a taste for Western goods: an obvious opportunity for ecommerce.
African online retail has been growing fast in recent years and this trend is forecasted to continue. Several factors are contributing to this impressive growth. Africa has the youngest and second largest population in the world.
Thus, there is potential for a vast digital audience. Internet penetration has been rising due to the broad expansion of smartphones and mobile devices in general.
Indeed, mobile e-commerce dominates the online shopping scene.
Africa's nascent e-commerce sector has demonstrated huge potential for growth.
Africa's B2B e-commerce market has experienced a tremendous increase year on year and is expected to experience several positive increases, as it has the largest concentration of entrepreneurs in the world, and a significant percentage of these entrepreneurs are currently investing in e-commerce, and Venture capitalists are in great support.
The laudable African Continental Free Trade Area, the largest in the world and which has just welcomed its 44th ratification from the 55 African countries, aims to overcome such constraints , and will have implications for increase in supply chain activities including procurement, production, distribution, transportation, logistics and warehousing.
There are also several physical infrastructure projects including intra-country and inter-country railway networks, road networks, new modern airports and seaports currently ongoing in several African countries.
One must not fail to mention China’s One Belt One Road (OBOR) project; the Maritime silk road is planned to include and connect up to 20 African countries directly into global supply chains through physical infrastructure.
While there are many challenges to including Africa in global supply chains, those challenges create opportunities at the same time. There are many supply chain innovations ongoing in Africa that have arisen out of opportunities that the challenges in Africa present.
If we shift the lens, we might find that emerging markets like Africa are improving their infrastructure, innovating out of necessity and positioning themselves to become an important link in global supply chains.
