South Africa is one of the fastest growing markets for digital commerce in the world, an official from MasterCard told ITWeb Africa. Digital commerce is the ability of consumers to have access to the internet, engage in commerce, interact socially over the internet using a PC, tablet or mobile device.
Technology company MasterCard released its Digital Evolution Index study on Wednesday, and revealed that the southern African nation was quickly moving towards digital evolution. The digital index is a study conducted by researchers at The Fletcher School at Tufts University together with MasterCard.
Tracking a country's movement toward digital evolution the study analysed drivers and barriers that govern a country's evolution like demand, supply, institutional environment and innovation.
The index ranked South African number 33 out of the countries that were measured for digital readiness.
In terms of digital readiness South Africa ranks ahead of Egypt, Kenya and Nigeria.
The study also ranks the southern African country in fourth place as one of the fastest growing digital economies behind China, Malaysia and Thailand.
Speaking to ITWeb Africa Ted Iacobuzio, vice president for global insights at MasterCard, says the rank ordering is the least important factor of the index's findings.
What's important about the findings is the trajectory and speed of digital evolution in South Africa, he said.
"South Africa is one of the breakout countries, which means that it has a vertical trajectory. It's about to take off as one of the fastest growing markets for digital commerce in the world," Iacobuzio said.
He stated that this means that the country is ahead of the track and as a 'breakout' country South Africa is ahead of the curve.
"South Africa is ahead of the track globally," he said.
According to Iacobuzio South African scored really high in innovation and supply, which is what is moving the country ahead.
Innovation includes factors such as the an environment for creating start ups and competitive landscape. While supply refers to technology and infrastructure.
Source
http://www.itwebafrica.com/cloud/517-south-africa/233809-south-africa-leading-in-digital-commerce
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