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Tuesday, 11 July 2017

Jumia expects e-commerce in Egypt to grow to USD 2.7 bn in 2020

Jumia is expecting e-commerce in Egypt to grow to USD 2.7 bn in 2020, according to Al Borsa. The number of Jumia customers who pay by cash decreased to 8% of total customers last year from 98% in 2012, CEO Hesham Safwat says. Market dynamics had played a crucial role in the emergence of e-commerce and its success in Egypt, as 65% of all online shoppers were below the age of 25. A report by PricewaterhouseCoopers, which we noted yesterday, had estimated that the number of online shoppers in the Middle East grew 6% between 2013-17, with around 29% of Middle East consumers now shopping online each month.

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