By Nqobile Dludla
South African click-and-collect company Pargo is exploring an expansion into the rest of Africa, its CEO said in an interview, betting on e-commerce growth on the continent.
Africa is forecast to surpass half a billion e-commerce users by 2025, having shown a steady 17% compound annual growth rate of online consumers in the market, according to the International Trade Administration, a U.S. government agency.
This growth is driven by increasing internet penetration, smartphone adoption and the growing use of digital financial services, especially mobile money.
“We’re looking at an expansion strategy to move into multiple markets. We are operational with a pilot in Egypt as a second country, but we are quite seriously looking at, in the future, building a network across Africa,” Pargo CEO and co-founder Lars Veul told Reuters.
In Egypt, Pargo has been testing the market since last year with 150 pickup points, also
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