According to the Journal of Global Information Technology Management, Africa has become one of the fastest-growing regions in the world in terms of cyber-victimization and cybersecurity threats.
In 2018, the United Nations Conference on Trade and Development found online shoppers across the continent grew at a rate of 18% annually since 2014, higher than the global average. In that same report, Africa’s growth in internet connections rose from 2.1% in 2005 to 24% in 2018.
An estimated 863,000 passenger cars were sold throughout the continent between 2005 and 2018, with South Africa as the continent’s largest passenger vehicle market. With rapid growth and development in the e-commerce market, consumers in Africa are at an increasingly higher risk of becoming another statistic of cyber-victimization.
As a “digital and e-commerce revolution” continues to sweeps across Africa, YeloMotor has launched an innovative online community for consumers in the online automotive market built on confidence and trust.
Putting Consumers in Control
There are several types of scams potential buyers are forced to navigate through when looking to purchase a car from a private seller. From e-commerce scams (where buyers complete a transaction, only to receive a different item than the one they purchased or nothing at all) to online imposter scams (where the imposter victimizes the consumer by posing as an authentic “seller” in order to establish trust and manipulate the consumer into buying goods or sending money), consumers can be at a severe disadvantage when shopping to buy a car.
YeloMotor’s mission is to connect the online automotive community by putting control of the car-buying process back in the consumer’s hands. With its free service, consumers can record information they have about fraudulent sellers or vendors (i.e. name, alias, posted advertisement, etc…) and YeloMotor will alert members looking to reference a seller or vendor before they make a costly financial transaction.
For a small fee, YeloMotor’s members will have the added ability to better research and identify potential scams and fraud with information cultivated from consumers just like them.
Making a Positive Difference
The future is bright for Africa’s e-commerce automotive market and recent sales trends estimate passenger vehicle sales could reach up to 10 million units annually by 2033.
With those positive developments continuing for years to come, YeloMotor’s goal is to improve the online automotive market through sharing research and reviews that are for consumers, by consumers.