South Africa’s leading online retailer Takealot says Amazon.com’s plans to launch its e-commerce business in the country show the market is poised for growth.
South Africa’s leading online retailer Takealot says Amazon.com Inc.’s plans to launch its e-commerce business in the country show the market is poised for growth, even as it faces power cuts, antitrust issues, and inflationary pressures.
Takealot, owned by Cape Town-headquartered internet group Naspers Ltd., launched in 2011 and has become the largest online retailer in Africa’s most developed economy, reporting $827 million in revenue in 2022. South Africa has a growing, tech-savvy and youthful population together with one of the largest upper-middle-income economies on the continent, making it an attractive base for tech giants like Amazon and Microsoft Corp. seeking to expand on the continent.
Online market players including Takealot and Google have also faced government scrutiny over competition concerns in the sector.
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