The African eCommerce market is often described as fast-growing. In 2020, it generated $27.97 billion in revenue, in 2024, it reportedly grew to $55 billion, and is now projected to reach $112.73 billion by 2029.
However, a majority of eCommerce operators on the continent primarily use social media platforms to sell goods and manage their business, resulting in a variety of barriers to business growth. From a lack of accurate data and insight into business operations, such as who bought what, which goods sell the most, and when their customers are most active, to inventory mismanagement due to the fragmented purchase cycle across multiple platforms.
This was the core thesis at the launch of Shopaza in Lagos on June 18, 2026. To address the challenge that merchants in Africa and the diaspora face in scaling their business beyond a few social media interactions, Payaza, a Pan-African fintech company, launched Shopaza,
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