Navigating the Business Opportunities, Challenges in Ghana’s eCommerce sector as a foreigners
As of now, eCommerce in Ghana is in an early developmental stage, even with notable improvements in internet connectivity in recent years. Key players in the mobile access market, including MTN, AirtelTIGO, and Vodafone, are actively working to expand their market share, which may contribute to the future growth of eCommerce in the country. However, challenges in fulfilment services persist.
Financial services, crucial for a robust eCommerce infrastructure, are also advancing in Ghana. Some local banks have introduced specialized Visa and MasterCard services, significantly enhancing business practices. Many Ghanaian entities, equipped with tailored credit limits based on various factors, can now engage in international financial transactions. Mobile money is increasingly playing a pivotal role in financial transactions nationwide.
Ghana’s primary eCommerce platform, Tonaton, launched in early 2013, stands as a notable player in the market. Supported by a Swedish investment firm with technical development primarily carried out in Europe, Tonaton ranks as the 33rd most popular website in Ghana. However, it faces competition from global e-commerce giants like Alibaba and eBay.
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Despite the potential for eCommerce growth, caution is advised for international companies receiving unsolicited email requests for business dealings from Ghanaian entities, including government officials or offices. It is better to contact your Commercial Service in Ghana should be consulted before sending samples, and goods, signing documents, or issuing invitation letters to Ghanaian contacts for visits to the United States. This precautionary measure is essential to verify the legitimacy of potential business partners, given the presence of a minority involved in internet fraud scams.
eCommerce in Ghana is evolving, and businesses must stay informed about the market dynamics, leverage the improving financial services landscape, and exercise due diligence in engaging with local partners to ensure a secure and legitimate business environment.
