Alibaba – the globally revered Chinese e-commerce giant – has launched Africa’s first Electronic World Trade Platform (eWTP).
The first African beneficiary is Rwanda.
At a special ceremony in Kigali, Rwanda, President Paul Kagame and Jack Ma, Executive Chairman of the Alibaba Group, unveiled a plaque to mark the establishment of the first electronic world trade platform on the African continent.
This means small- and medium-sized enterprises (SMEs) can effectively participate in cross-border electronic trade, thereby promoting trade and tourism between Rwandan and Chinese consumers.
Alibaba is expected to work with the Rwanda Development Board to help Rwandan enterprises sell their most popular products, (coffee and handicrafts) to Chinese clients through its online market space, as well as help promote Rwanda as an attractive tourist destination to Chinese nationals.
Alibaba’s affiliate company Ant Financial will share expertise in inclusive financial tools, such as mobile payments, to support Rwanda’s digital economy.
— Rwanda Development (@RDBrwanda) October 31, 2018
This deal is a big win for online giant Alibaba, which has added 25 million annual active consumers to reach 601 million.
Indeed, Q2 for 2019 has seen revenues up 54% year over year, with revenues from core commerce up 56%; management points to the company “outpacing all industry peers” such Amazon, Netflix, Facebook, and Google.
Alibaba Group Holding Ltd. will invest about $28 billion, over the next three ye…