3 Ways Ghana Could Better Support eCommerce

On a global scale, eCommerce sales keep increasing year after year. 

According to eMarketer, the worldwide sales figure is expected to be around $4.479 trillion in 2021. China’s eCommerce sales alone accounted for about 67.1% worldwide in 2017. 

This shows how essential it might be for Ghanaian businesses to venture into international markets. However, most companies within the country are yet to realize the full potential of global eCommerce. 

Primary Causes

This is mainly due to the lack of support, infrastructure, and capital to encourage entrepreneurs with the initiative and desire to explore eCommerce businesses. Hence, many SMEs rely mostly on home-based customers for revenue. 

As such, the majority of Ghanaian companies are incapable of expanding into international markets. Meanwhile, the import of foreign goods has always been on the rise in the country.

Meaning local companies aren’t only competing locally, but also on the international scale. At this point, many stakeholders have called on the authorities of the country to put measures in place to support eCommerce businesses access global markets. 

Some experts believe the government could take the following measures to help eCommerce businesses in the country. 

3 Measures to Support eCommerce in Ghana

Increase Internet Penetration 

One of the cornerstones of eCommerce is a reliable and accessible internet connection. At the moment, there is still much room for improvement in the telecommunication and internet service consumers in developing countries, including Ghana, receive. 

Also, several e-transaction and payment processing facilities are yet to catch on in these parts of the world. Much of which we can attribute to the lack of infrastructure, security measures, and regulatory bodies to oversee such aspects of eCommerce in developing countries. 

Hence, for the country to support eCommerce, there is a need for advanced payment processing. You can attribute this to the lack of the different cashless systems of payment in the international market. This is crucial, especially when you consider the fact that PayPal and several other payment gateways do not operate in the country. 

Improved Measurement of International eCommerce

The lack of data qualitative and quantitative data on internal and external determinants of eCommerce relevant to the country hampers the attempt to craft effective policies to help the sector. 

Also, it makes decision-making at the business level quite impossible and ineffective. Intelligent investment is also almost impossible since investors will need information backed by data to allocate funds to eCommerce businesses that would aim to expand into the international markets. 

Therefore, the government and other stakeholders can join forces with international organizations such as the World Trade Organisation, World customs Organization, and World Bank to make statistics, data, and research available to SMEs and eCommerce ventures at the national level. 

Digital Integration at Different Regional Levels

A move to generate region-specific solutions could help businesses test eCommerce business models and develop best practices for their businesses before moving to the world stage. 

Aside from this, SMEs will get the chance to try out different export models. The fact is, different regions and markets around the world will respond to eCommerce and its products differently. Therefore, it helps local businesses if they know and adopt regional approaches through regional digital integrations. 

Given these three supportive measures, eCommerce could begin moving toward a more fruitful future. 

Export Portal is Here to Help

As a comprehensive international trade hub, we have everything Ghanian SMEs need to trade at Export Portal. From educational materials to step-by-step support through an international trade transaction, our team is ready for you to start trading. Join our platform for free today!