by making it easy for entrepreneurs and consumers to trade, friends and family to remit for free, and inspired Africans to earn by becoming consumer affiliates.
Consumer spending in Africa is set to rise
from US$860 billion in 2008 to $1.4 trillion in 2020. As a result, Africa now boasts the world’s fastest growing middle class. In fact, The World Bank classifies more than 120 million Africans as middle class, and that number continues to rise more rapidly than any other continent as seven of the world’s ten fastest economies are in Africa. MyRica is a platform that will launch features, functionality and campaigns that will impact the lives of all Africans, over time.
Africa’s working age population
will surpass China by 2040, with over 70% of the population currently under 25.
non-residents remit almost $40 billion per year to Africa
and pay average fees of just over 12%, almost double the global average for remittance outside of Africa.
African eCommerce is projected to achieve an annual 40% growth rate through 2025
offering an immense and unique opportunity for manufacturers, distributors, entrepreneurs and investors.