Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Qatar’s e-commerce market reached USD 3.8 billion in 2024 and is expected to grow to USD 10.1 billion by 2033, driven by increasing internet penetration, mobile commerce, and social commerce. Key trends include AI-powered personalized experiences and sustainable practices in luxury, fashion, and electronics sectors.
dLocal, a Uruguay-based payment platform, is capitalizing on Egypt’s growing digital commerce market by offering local payment methods like mobile wallets and bank transfers. Despite cash dominance, Egypt’s e-commerce sector saw a 318% revenue increase for dLocal in Q3 2024, positioning the company as a key player in Africa’s fintech space.
Saudi Arabia significantly contributed to a 44% increase in e-commerce orders across the MENA region during the 2024 festive season. The growth was driven by mobile shopping, cultural events, and gifting, with mobile commerce leading the way. The region’s e-commerce market is expected to reach $50 billion by 2025.
Qatar’s digital commerce sector is projected to reach $7.29bn by the end of 2024, with a CAGR of 21.70% leading to $19.46bn by 2029. The market is set to see over 1.6 million new users, driven by advances in AI, data analytics, and automation, positioning Qatar for significant digital growth.
Algeria’s e-commerce market has reached $1.5 billion, driven by an increase in payment cards to over 18 million. This growth underscores e-commerce’s role in fostering economic development, digital transformation, and financial inclusion, despite ongoing challenges with cash payments.
PayTabs Egypt partners with Souhoola to expand its BNPL offerings, enhancing e-commerce payment options and competitiveness. This strategic alliance aims to meet consumer demands for convenience and support Egypt’s progression towards a cashless society.
Saudi Minister of Commerce, Majid Al-Qasabi, highlighted the growth of the e-commerce sector, fintech advancements, and support for SMEs, emphasizing the Kingdom’s focus on innovation and digital empowerment.