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Egypt : "Raqamyat" announces the launch of its business in the Egypt's market with exclusive packages, boosting E-commerce, maximizing sellers' profits
- 15 June 2022 / News / 373 / Fares RAHAHLIA
"Raqamyat" announces the launch of its business in the Egypt's market with exclusive packages, boosting E-commerce, maximizing sellers' profits
"More Than Just a Seller" is a national initiative to support SMEs with a smart business bundle, tying it to achieving financial goals
In line with Egypt's Vision 2030 towards digitization, Raqamyat, a company specialized in providing integrated solutions to e-payments and e-commerce, has announced launching its business in the Egypt's market with exclusive packages to boost e-commerce and maximize sellers' profits. The – Egyptian joint-stock company – Raqamyat intends to achieve financial and market sustainability through effective and comprehensive solutions which helps granting access to market and maximizing profit, along with building a strong e-payments community in MENA region and creating new job opportunities by launching a number of e-commerce projects.
The size of retail e-commerce is on the rise globally, especially after Covid-19 pandemic. The total retail e-commerce sales have reached 4.9 Trillion USD worldwide in 2021, whereas sales of the same year in the Middle East have reached 49 Billion USD. During the past years, Egypt has been paying considerable attention to engage in the growing global trend and increase investments in Fintech, where investments in Egypt grew from 1 Million USD in 2017 to reach 159 Million USD by the end of 2021. Each cash flow has reached 1.203 in average for a single purchase order through e-stores. In addition, the number of eWallets have increased by 16% during 2021 against 5% in 2018.
Chairman and managing director of Raqamyat Dr. Ahmed Saber has emphasized that there is growing demand on e-commerce in Egypt, suggesting that the local market is promising when it comes to opportunities of increasing e-commerce especially under the implications of Covid-19 crisis, global inflation, and price increase in energy, shipment and items. He indicates that most prominent challenge that encounters Egypt's market of e-commerce and e-payments is having little awareness of harnessing technology to develop businesses and maximizing profits; in addition, he highlights that it is required to properly train workers in that field, as it provides real job opportunities, and to introduce legislations which regulate the market's by-laws.
Raqamyat's vision involves helping companies achieve their strategic and financial goals through a set of tools and integrated electronic solutions, enabling all sellers to develop and grow their businesses on e-stores. Such sets will achieve profitability through exclusive packages customized to support Egypt's businesses and boost
Egypt's economy, especially under the directives of Egyptian Government to accelerate the development of digital economies in Egypt and support financial inclusion and trade projects.
He adds that "Raqamyat provides an innovative model from successful strategic partnerships that eventually serves the market in Egypt. It is reflected on services provided to businesses, through the biggest e-payment gateways in Egypt (Fawry/ OPay/ Paysky/ Cashier/ Paymob) as well as its partnership with Bosta, the biggest national logistic partner in national shipping services. In the framework of its responsibility towards the national market, the Company has launched the "More than Just a Seller" initiative which involves smart business package, tying it to achieving financial goals for their SME clients. This is in line with the vision of the political administration in Egypt, at the head of which is his H.E President Abdel Fattah El-Sisi, to encourage entrepreneurs and founders of small-scale enterprises.
Egypt comes in the second place in MENA region in regard to size and value of e-commerce. The size of e-commerce in Egypt reached 4.9 Billion USD in 2021 following Covid-19 crisis, as the size of retail e-commerce sales had reached 3.6 Billion USD before the pandemic.
source: egypttoday.
