According to Egypt’s Internal Trade Development Authority (ITDA), ecommerce transactions in the country reached EGP 40 billion, which is more than 3% of the total annual trade during the same year, which reached a total of EGP 1.2 trillion.
The Head of ITDA Ibrahim Ashmawy asserted that the e-commerce valuation above doesn’t include online informal trade, which refers to merchants on social media selling stuff without being officially registered as businesses. And, according to him, these EGP 40 billion are hence only 10% of the actual number.
With internet penetration increasing by roughly more than 20% and reaching 54.74 million Egyptians back in January 2020 according to a well-sourced report by Data Reportal and the coronavirus pandemic’s safety regulations, e-commerce got a proper boost, and 2021 is most probably going to take it to another level.
Ashmawy added that Egypt’s Egyptian Commodities Exchange will play a bigger role in e-commerce in the coming year and that ITDA is partnering up with the Egyptian Ministry of Communications and Information technology to drat and e-commerce law.
