Post for Investment, the investment arm of the Egypt Post, has announced the launch of “ECOM Africa,” a new company aimed at developing and operating specialised electronic marketplaces targeting the African market.
The platform, which is being developed in partnership with eAswaaq, a subsidiary of E-Finance, aims to facilitate trade between Egypt, African nations, and countries worldwide.
ECOM Africa is designed to revolutionise e-commerce in Egypt by providing local companies with a comprehensive system to export their products to promising African and international markets. The platform will enable Egyptian businesses to reach a wide customer base globally, thereby strengthening Egypt’s presence in these markets and opening new opportunities.
The strategic partnership between the platform’s founding companies emphasises collaboration and integration with national institutions and companies, utilising the vast capabilities of the Egyptian Postal Service, such as its advanced infrastructure and extensive geographical spread.
This includes leveraging its strong connections with global postal entities, particularly those in the Pan-African Postal Union, to facilitate shipping, and customs clearance, and reduce delivery times and costs. The partnership will also benefit from eAswaaq’s developed infrastructure to enhance economic cooperation between Egypt and African nations, increasing intra-African trade.
As part of its efforts to connect small and medium businesses across Africa with different markets, ECOM Africa has announced the hiring of a new executive leadership team. The team is comprised of Sherif Shaheen as the Executive Chairperson, and Ahmed Abdeen as the CEO and Board of Directors Member.
Ibrahim Sarhan, Chairperson of e-finance for Digital and Financial Investments, said: “The Group has a lot that it can offer to support a number of African nations, including the transfer of expertise and the training of African calibres, preparing them for the use of the latest technologies in the fields of digitalization, electronic payments, and e-commerce. Additionally, cooperating with major financial institutions and service providers such as Egypt Post allows for the creation of new and integrated digital financial products that meet the needs of African markets.”
Abdo Elwan, Acting Board of Directors Member at Egypt Post, stated: “Egypt Post has extensive experience and a strong pool of talent in serving African markets. Egypt Post continually strives to enhance those services in line with the latest developments in technology and digital transformation spearheaded by Egypt within Africa. Our focus is specifically on the creation and innovation of new comprehensive services in collaboration with e-finance Group and eAswaaq, owing to their huge ability and successful track record in digital payments and online marketplaces.”
Ahmed Ali Abdelrahman, CEO of Post for Investment, highlighted the significance of this initiative in supporting the Egyptian economy and positioning Egypt as a regional hub for trade and logistics. He added, “We are proud to launch this platform, which represents a major leap for e-commerce in Egypt, and we believe it will drive the Egyptian economy forward while creating new opportunities for Egyptian companies.”
Sherif Shaheen, ECOM Africa’s Chairman, commented: “This initiative presents a great opportunity for leveraging Egypt’s abilities and infrastructure to enhance commercial activity across African markets. We are committed to providing fair commercial opportunities to small and medium businesses operating across the targeted markets.”
Ahmed Abdeen, ECOM Africa’s CEO, added: “We are excited to start achieving the ambitious vision of the company’s founders. Despite the potential challenges, we are confident in our ability to overcome those obstacles. We are committed to delivering exceptional services and solutions to stakeholders and enhancing the platform’s position as a primary partner in the African marketplace.”
