Ebay to Improve Bilateral Trade Between United States and Africa

ebayBy: Wazobia Staff

Africa’s biggest consumer markets has a new way of doing business. A new partnership between U. S. e-commerce giant eBay and online shopping startup MallforAfrica.com will allow U.S. Sellers to connect to African buyers.

MallforAfrica.com was founded in 2011 as an online payment service provider and a logistics firm. It has backing from companies such as the department store Macy’s, clothier Hawes and Curtis, and Helios Investment Partners.

Under the new partnership, a new platform will be developed facilitating the sale of goods from U.S. sellers to African buyers, allowing the latter to get access to eBay U.S. goods.

The eBay Business Development Director, Fernando Saiz had this to say about the venture. “The eBay powered platform dedicated to MallforAfrica will enable inventory from all eBay U.S. individual and business sellers with a 300+ star rating to be purchased by buyers. The experience will be seamless for a U. S. based seller and will feel as though they are selling to a U. S. buyer.”

The sales on the newly established Ebay.MallforAfrica.com site began first in Nigeria followed by Kenya then Ghana this year alone. Additional African countries will be added in the following years guarantees MallforAfrica CEO Chris Folayan.

In the future eBay will manage inventory and set up its warehouses in Nigeria, Kenya and Ghana creating jobs in those countries. MallforAfrica.com will facilitate payments and logistics between the different countries by allowing transactions in local and digital currencies.

According to McKinsey’s Global Institute Africa’s consumer spending is estimated to exceed $1.4 Trillion annually by 2020 with online sales to top $75 Billion by 2025.

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