Sector players in the Ghana e-Commerce industry have called on government to come up with a legal framework to regulate transactions in the e-Commerce space.
They made call at the fourth Ghana e-Commerce conference and exhibition held in Accra over the weekend.
It was a platform for online businesses and businesses that want to trade safely on the internet.
Speaker after speaker at the two-day event gave several reasons why there was the urgent need for a legal framework to regulate online trading in Ghana.
E-Commerce Expo 2017, the fourth in a series, was organised by OML Africa.
It was on the theme: “Shaping Ghana’s e-Commerce Landscape Through Innovation, Regulation And Adoption.”
The event provided a platform for key stakeholders in the industry―online retailers, telcos, government agencies, internet service providers, banks, online payment platforms regulators, cyber security experts and courier services, among others― to lay the foundation as well as chart the course for Ghana’s e-Commerce industry.
Alongside the conference was an exhibition which about 40 companies showcased their online solutions and services.
In an interview with Today after the programme, Events Director of OML Africa, Mr Paul Asinor, revealed that buying and selling in Ghana was slowly and steadily shifting towards online trade, with several retail start-ups successfully entering the market.
Mr Asinor cited the McKinsey Global Institute as projecting e-Commerce to be worth US $ 75 billion in Africa’s leading economies by the year 2025.
But he was quick to add that African e-Commerce faced several challenges while cross border e-Commerce was confronted with the problem of poor infrastructure, underdeveloped logistics and difficulties surrounding international bank transactions.
He identified low credit card penetration in a number of regions and customers’ anxiety over fraud as drawbacks to the development of the industry as customers still preferred cash on delivery.
Mr Asinor therefore, stressed the need for industry players to devise strategies to overcome the challenges.
Story: Franklin ASARE-DONKOH
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