- Africa's informal retail sector is vital to the continent's economy and has been facing several challenges, such as limited access to capital and difficulties in receiving goods from suppliers.
- Recent years have seen the emergence of tech-enabled startups building innovations to address these pain points.
- Key trends to watch out for in 2023 include the adoption of smartphones, the emergence of market leaders, and the evolution of logistics networks.
According to Boston Consulting Group (BCG), Africa’s informal retail sector accounts for more than 70% of food, beverage and personal care products provided to consumers across the continent.