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Amazon to launch e-commerce marketplace in South Africa: report

Published: 2022-06-20 18:08 +02:00 by Duncan McLeod tag: e commerce

Amazom.com plans to launch online shopping services in South Africa and four other countries by early 2023, a report said.

Amazom.com plans to launch online shopping services in South Africa and four other countries by early 2023, US publication Business Insider reported, citing leaked documents.
The move could signify bad news for local online retailers, including the leading South African online shopping player, the Naspers-owned Takealot Group.
The five markets that Amazon will expand to over the next year are South Africa, Nigeria, Belgium, Chile and Colombia, Business Insider said, citing internal Amazon documents it obtained.
The South African launch, reportedly codenamed Project Fela, is expected in February 2023
The South African launch, reportedly codenamed Project Fela (a codename it shares with Nigeria), is expected in February 2023, the publication said, citing an internal timeline. The Nigeria launch is reportedly planned for April 2023.
South Africans will also reportedly get access to Amazon’s Prime membership programme soon after launch of Amazon online shopping in the country.
Amazon has long had a presence in South Africa through its cloud services business, Amazon Web Services. In fact, a portion of AWS’s cloud offering was originally developed in Cape Town and the city is host to a large (and growing) Amazon software development centre.
The company has invested significantly in data centre infrastructure in the country, too, opening a data centre region in Cape Town in 2020. It has also identified a new head office for South Africa, but the development is the subject of a protracted legal dispute between the developer and members of the local community. — (c) 2022 NewsCentral Media

Amazon Amazon Web Services AWS Project Fela Takealot

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Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

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