E-Business
How Platforms and Payments are Driving Commerce in Africa

Is cash still king? Perhaps, but the acceptance and use of digital channels across Africa are rapidly increasing, experiencing their highest adoption rate in history.

Currently, Africa is one of the fastest-growing consumer markets in the world. According to Economist Intelligence, the continent will be the world’s second-fastest-growing major region in 2024, just behind Asia.
In the last decade, e-commerce has experienced phenomenal growth rates worldwide, with e-commerce sales projected to grow to USD 7 trillion globally this year. Across Africa, the retail landscape is undergoing a significant shift as contactless payments and mobile money become widely integrated. Consumers in many African countries are increasingly embracing these methods for transactions.
This SeerBit whitepaper explores Sub-Saharan Africa (SSA), undoubtedly one of the smallest e-commerce regions in the world, but one with high growth potential.
The Rise of e-commerce in Africa
The COVID-19 pandemic has accelerated a major digital transformation across Africa, with the demand for digital payments experiencing a significant and sustained rise. The result? Digital payments have become an essential feature in the continent’s financial landscape.
One of the most significant developments in alternative payment methods in Africa continues to be the rise of mobile money. The phenomenal growth of mobile money can be attributed to three key factors: increased access to technology, challenges in accessing traditional financial services, and the pandemic-driven rise of contactless payments.
This is particularly true in Sub-Saharan Africa, where 144 mobile money providers are at the forefront of transforming consumer transactions. Notably, key players such as M-Pesa (by Safaricom), MoMo (by MTN) and Orange Money dominate the market share, as reported by Statista.
Notably, the region boasts 171 active mobile money service providers, indicating the expanding influence and acceptance of mobile money in the African financial landscape.
The secret to Africa’s pivot to greater e-commerce sales has also been faster growth in B2B sales, which layers online sales onto the existing network of informal retailers in the region, rather than supplanting them. B2B e-commerce platforms in Sub-Saharan Africa are thriving because they have overcome consumer trust and logistics issues by working with and tapping into the informal markets, rather than working around these sales channels. This has allowed the B2B platforms to provide goods into remote regions, well beyond urban areas.
Cross-border transactions have also played a key role in driving e-commerce. They make up more than half of all e-commerce transaction volumes in Sub-Saharan Africa. A portion of these cross-border volumes in SSA come from consumers accessing the rising domestic African e-commerce players across local borders, such as Jumia (Nigeria), Kilimall (Kenya), and Takealot (South Africa). Domestic e-commerce provision in Sub-Saharan Africa is only just beginning. Nevertheless, it presents an opportunity for Sub-Saharan Africa to develop its own big hitters in the market and enhance the continent’s connection to the rest of the world.
Challenges to e-commerce Growth in Africa
Uneven connection across the region
Sub-Saharan Africa is home to more than a billion people, a large proportion of whom live in low-income and lower-middle-income countries. This huge population is not uniformly connected to the internet and there is some evidence that not all users are utilising their connectivity to its full capacity.
High inflation subduing consumer spending
Rising inflation means that individuals have less discretionary income and tend to spend less money on splurges or “luxury” products. Price becomes the leading factor in decision-making for many consumers. Across Africa, this may also mean looking to brick-and-mortar retailers and informal markets which mainly trade in cash to secure goods at lower prices.
Functionality limits user adoption
According to The State of Instant and Inclusive Payment Systems In Africa – SIIPS 2022 report, functionality pain points erode trust.
The lack of inclusivity translates into sub-optimal usage. Consumer research in Kenya, Nigeria, Ghana, Tanzania, Zambia, the DRC and Egypt suggests that many end-users use digital payments only for limited use cases, such as sending and receiving money between friends and family. Consumer payments to merchants remain under-digitized: only 44 percent of individual respondents make P2B payments digitally.
The Role of Payment Platforms
Across Sub-Saharan Africa, a digital payment revolution is quietly unfolding. Fueled by the surge in mobile phones, the drive for financial inclusion, and the push for digital transformation, alternative payment methods are rapidly gaining much welcomed traction. Traditional banking infrastructure often struggles to reach the vast unbanked and underbanked populations, but these innovative solutions bridge the gap, offering financial services to a dramatically wider segment.
For example, according to the Global Findex Database (World Bank), in the region only three percent of the population has access to a credit card, while mobile phones have proliferated quickly, with a 75 percent penetration rate, making alternative payment methods a perfect match for the specific needs of Sub-Saharan Africa.
As Aida Diarra, senior vice-president and head of Visa in Sub-Saharan Africa puts it, “The fact that there are 261 million people today that do not have access to financial services – and combine the fact that there are less than two million businesses that accept digital payments – it creates an environment where innovation has to play a role to drive financial inclusion and commerce across the continent.”
Sub-Saharan Africa is now considered the global epicentre of mobile money, due to its 48 percent of global share of registered accounts. In 2022, this region had 763 million mobile money accounts, out of the 1.6 billion accounts worldwide. Furthermore, this trend has spiked with the high registration of new accounts in 2022, as the area was responsible for 59 percent of all new accounts registered globally.
Mobile money services have gained widespread adoption across the continent, with countries like Kenya and Ghana leading the way. In Kenya, for instance, mobile money platforms have revolutionised the way people transact, with transactions made via mobile wallets equivalent to a significant percentage of the country’s GDP. This success can be attributed to high mobile phone penetration, limited traditional banking infrastructure, and the affordability and convenience of mobile money services.
As the e-commerce sector becomes increasingly competitive, retail businesses need to adjust their approaches to include providing more value propositions for their main audience, localised e-commerce solutions and engaging more with a younger generation of consumers.
Conclusion
Sub-Saharan Africa’s payment landscape is undergoing a dynamic transformation, driven by innovation, alternative solutions and vibrant new market players. However, a critical gap remains. The infrastructure, regulations, and overall payment ecosystem haven’t fully matured to support the optimal development of payment services and remittance flows across the region.
Despite this, e-commerce in Africa is well underway. Estimates suggest about 264 e-commerce start-ups are operational across the continent, active in at least 23 countries. This indicates a significant potential to create new jobs – as many as three million by 2025. These jobs will be directly in online marketplaces, supporting services and spin-off economic activity.
E-Business
Kaspersky Warns of The Gentlemen Ransomware Group Expanding Operations with New Malware

New Kaspersky Global Research and Analysis Team (GReAT) research into the rapidly growing ransomware group known as The Gentlemen has showed that the attackers have evolved their tactics through new custom-built tools – a backdoor designed to facilitate information gathering before ransomware deployment and control over compromised systems, and a ransomware executable file.

The group has been active worldwide across industries including manufacturing, IT services, healthcare, financial services, construction, and logistics.
In its recent report Kaspersky shared an overview of ransomware trends: according to Kaspersky Security Network, in 2025 Latin America had the highest share of organisations with ransomware attacks detected (8.13%), followed by the Asia-Pacific region (7.89%), Africa (7.62%), Middle East (7.27%), the Commonwealth of Independent States (CIS, 5.91%) and Europe (3.82%).
The Gentlemen is a rapidly expanding Ransomware-as-a-Service (RaaS) operation believed to have emerged around mid-2025. The Gentlemen and its affiliates primarily gain initial access to victim systems through the exploitation of Internet-facing services and compromised credentials.
The attackers may be seeking collaboration with Initial Access Brokers (IABs) to acquire access to organisations with valuable intellectual property with minimal effort. Kaspersky found that access to some victim systems, using techniques the group does not typically employ, occurred long before the ransomware infection. This may mean that the initial access was not carried out by The Gentlemen, but rather by another threat actor, possibly an IAB.
Unlike many RaaS groups, The Gentlemen demonstrates a high level of sophistication, employing custom tooling and flexible intrusion tactics. Kaspersky researchers identified a previously unknown, custom-developed backdoor written in Go deployed by the attackers one day before ransomware execution.
The implant gathers host and network information and hides its console window to avoid detection. Its capabilities include bidirectional communications with the attackers, server-controlled command execution, and reconnaissance, enabling attackers to extend and adapt their activity within a compromised environment.
Kaspersky also found a new ransomware variant written in C affecting a limited number of corporate victims. While The Gentlemen has primarily used a ransomware implant written in Go that was designed for cross-platform use, the new C-based variant appears to be Windows-focused. The group may be testing the malware in real victim environments as it expands its technical arsenal.
Notably, in their attacks the Gentlemen attempted to remove the Kaspersky security solution by utilising kavrmvr.exe (a tool designed to remove Kaspersky products). However, the Kaspersky solution remained active, and the move by the attackers was blocked and flagged as malicious.
“Despite being a relatively recent entrant to the ransomware threat landscape, The Gentlemen group is rapidly gaining a reputation among threat actors, attracting affiliates and executing high-profile attacks.
“The testing of the new C-based ransomware variants suggests that the group is actively refining its capabilities, which may translate into more stable and scalable attack chains in the near future.
“Organisations should anticipate further malicious ransomware activity and are strongly advised to prioritise vulnerability management and system hardening processes to mitigate the risk of compromise,” said Fatih Sensoy, security expert at Kaspersky GReAT.
E-Business
Kaspersky Reveals Malware Attacks on SMBs Disguised as AI Services Surged by Five Times in 2026

From January to April 2026, Kaspersky security solutions detected more than 33,300 attacks on small and medium-sized businesses (SMBs), in which malicious or unwanted software for PCs were disguised as popular artificial intelligence (AI) services. This number has surged by almost five times when compared to the same period in 2025.

A new Kaspersky report reveals threat analysis and mitigation strategies to help SMBs protect themselves against the evolving threat landscape.
Kaspersky experts explored the extent to which threat actors target small and medium-sized businesses with malware disguised as legitimate AI services, considering the growing popularity of such tools for the business workflow. At the beginning of 2026 the most common lures in cyberattacks involved malware posing as ChatGPT (42%), Claude (24%), and DeepSeek (20%).
Among unique malicious files detected in the SMB sector and masqueraded as AI services, Kaspersky experts observed mainly different Trojware (Trojans and Trojan-like malware), including those capable of downloading and running other malware on compromised devices.
Trojware disguises itself as harmless files to trick users into installing them. Their functionality may vary depending on the type of the malware. It may include stealing, deleting, blocking, modifying or copying users’ data, as well as other malicious capabilities. Given this, Trojware represents a highly dangerous cyberthreat to entrepreneurs and businesses.
However, in 2026 Kaspersky telemetry detected even more attacks on SMBs, in which malicious or unwanted software for PCs were disguised as messenger apps and video conferencing software: Telegram, WhatsApp, Zoom and Microsoft Teams. From January to April Kaspersky solutions blocked almost 415,000 such attacks.
The number of attacks changed marginally compared to the previous year’s figures. Thus, Kaspersky experts note that the lure of fake communication apps remains a widespread cyberthreat.
“The threat landscape is evolving with new lures constantly appearing. For example, for the first four months of this year our solutions for small and medium-sized businesses detected hundreds of attacks, in which malicious or unwanted software were disguised as OpenClaw – an AI tool that rapidly gains popularity in 2026.
Corporate employees are increasingly using various AI services and other tools in their workflows, including those that are publicly available. Thus, to be on the safe side, SMB employees – as well as all users – should exercise caution when looking for software on the Internet. Always check the correct spelling of the website and links in suspicious emails, and use robust security solutions,” says Vasily Kolesnikov, security expert at Kaspersky.
“As adversaries constantly refine their methods to exploit human error, the need for up-to-date security awareness training for businesses of all kinds and sizes is undeniable. However, the reality is that micro-organisations often struggle to allocate time and budget to regularly update their staff on the latest threats and malicious trends.
“We believe this issue can be largely addressed through solutions tailored for small businesses which deliver robust core protection while also providing accessible security education,” adds Rodion Pyanov, product manager, Kaspersky Small Office Security.
E-Business
LG Showcases AI-Powered Smart Living Innovations @ Africa Technology Expo 2026

LG Electronics has reaffirmed its commitment to advancing innovation and smart living across Africa by participating as a supporting sponsor at the Africa Technology Expo (ATE) 2026, where the company is showcasing its latest portfolio of premium consumer electronics and home appliance innovations.

The two-day expo, themed around strengthening Africa’s enterprise technology ecosystem through collaboration and innovation, has brought together industry leaders, technology innovators, multinational companies, policymakers, and entrepreneurs to explore opportunities for cross-border partnerships and digital transformation across the continent.
As one of the supporting sponsors of this year’s event, LG’s interactive exhibition booth has become a major attraction, offering visitors firsthand experience of the company’s latest AI-powered technologies designed to enhance everyday life while delivering greater comfort, convenience, energy efficiency, and connectivity.
Among the innovations on display are the latest LG QNED TV, delivering exceptional picture quality and immersive entertainment; the iconic MoodUP™️ Refrigerator, which combines intelligent cooling with customizable LED door panels; the innovative LG WashTower™️, an all-in-one premium laundry solution that maximizes space and efficiency; the energy-efficient LG ARTCOOL Air Conditioner and LG Air Tower, designed to provide smarter climate control; alongside LG’s advanced Dehumidifier and other intelligent home solutions.
Speaking on LG’s participation, Mr. H.S. ji, Managing Director, LG Electronics West Africa, said: “Africa Technology Expo provides an excellent platform to engage with innovators, businesses, and consumers who are shaping the future of technology across the continent. At LG, innovation goes beyond creating advanced products, it is about developing meaningful solutions that improve everyday life.
“Our participation reflects our commitment to supporting Africa’s digital transformation while introducing intelligent technologies that make homes and workplaces smarter, healthier, and more energy-efficient.”
The Africa Technology Expo was established to foster stronger collaboration among African businesses, emerging enterprises, and multinational organisations. During the opening ceremony, the organisers emphasized the need for deeper continental collaboration to unlock Africa’s innovation and economic potential, noting that previous editions of the expo have facilitated approximately $192 million in business deals among participating companies.
LG’s presence at the event aligns with this vision by demonstrating how cutting-edge consumer technology can support economic growth, digital inclusion, and sustainable development across Africa.
Visitors to the LG booth are participating in live product demonstrations, interactive experiences, and expert consultations, gaining valuable insights into how LG’s AI-powered ecosystem seamlessly connects home appliances and entertainment products to deliver a smarter lifestyle.
As technology continues to reshape industries and everyday living, LG remains committed to driving innovation that empowers consumers, supports enterprise growth, and contributes to Africa’s evolving digital economy.
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