The African eCommerce market is often described as fast-growing. In 2020, it generated $27.97 billion in revenue, in 2024, it reportedly grew to $55 billion, and is now projected to reach $112.73 billion by 2029.
However, a majority of eCommerce operators on the continent primarily use social media platforms to sell goods and manage their business, resulting in a variety of barriers to business growth. From a lack of accurate data and insight into business operations, such as who bought what, which goods sell the most, and when their customers are most active, to inventory mismanagement due to the fragmented purchase cycle across multiple platforms.
This was the core thesis at the launch of Shopaza in Lagos on June 18, 2026. To address the challenge that merchants in Africa and the diaspora face in scaling their business beyond a few social media interactions, Payaza, a Pan-African fintech company, launched Shopaza, an eCommerce platform for small businesses to create digital storefronts and streamline operations.
Shopaza, which is officially live across 23 countries in Africa, North America, and Europe, will run on Payaza’s payment infrastructure, one of its biggest advantages over dedicated eCommerce platforms that depend on third parties. Due to this integration with Payaza, merchants can enjoy instant settlement.
Kehinde Omotosho, Head of Engineering at Payaza Africa, in his keynote address, noted the timeliness of the product and highlighted the importance of its integration with an in-house payment infrastructure.
“We have our integrated payment infrastructure, which handles multicurrencies; we have instant settlement, which ensures that as you stock up your store, you can sell those goods, recoup your funds and immediately fund your store,” he said.
However, the most…
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