JUMIA predicts exponential e-commerce growth in Egypt
Egypt is growing significantlyin the digital space, at higher rates compared to OECD and other MENA countries, according to a recent e-Intensity Index report by the Boston Consulting Group. Egypt has been surpassing Saudi Arabia, the United Arab Emirates and average OECD countries in terms of Internet e-intensity – an indicator that is driving JUMIA, the e-commerce leader in Egypt and Africa, to believe in the local market’s real potential in driving the e-economy.
“Egypt’s e-intensity has been growing steadily over the past three years,” said Mattia Perroni, CEO of JUMIA Egypt. “The incredible market potential and the technology infrastructre, combined with the human factor are the main drivers behind this growth. Looking at the rising significance of the Egyptian entrepreneurial and innovation space, it is clear that the human or people factor here is truly unique,” Mattia added.
Successdepends upon the connection of the idea, execution and innovation.Execution of the people is the core of innovation – meaning that an organization that can execute well on a few good ideas is more powerful than one that has lots of great ideas but with a wrong way to execute.
He added, “This is the secret of Jumia’s success. The right idea, the innovative execution and the people behind it. And this is exactly why a market like Egypt will be a big player in the technology and e-economy regionally. The e-intensity Index ranks countries through the measurement of ‘enablement’, ‘expenditure’ and ‘engagement’. Right now, Egypt may have a relatively small Internet economy compared to other countries worldwide, but it is certainly recording some of the fastest growth rates.”
According to JUMIA, e-commerce is one of fastest growing industry segments as well as one with the largest potential opportunities for economic growth. It’s a market that is expected to grow by 36% in 2016.
Jumia is part of Rocket Internet, a leading online venture worldwide with more than 150 ventures worldwide, Jumia, has more than 50% growth in their total traffic in 2014, 11 million unique visitors on their website, won the award to the ‘Best new retailer launch of the year in 2013’ and was also nominated ‘Arab Internet Pioneer’ by the Syndicate of E-commerce and Faculty of Commerce in 2012.
The Creative Industry Summit took place at the American University in Cairo on June 21-22. It is Egypt’s first hub for the creative ecosystem, launched out of an expressed need for a professional, high-profile platform devoted to Egypt’s creatives and their designs, advertisements, marketing campaigns, arts, performances, and films.
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