Sahel Capital Backs Nigeria’s Agriarche to Boost Farmers’ Market Access

Posted on by africanretailteam | 76 Views | 5 min read

Sahel Capital, through its Social Enterprise Fund for Agriculture in Africa (SEFAA), has provided a $500,000 working capital loan to Agriarche, a company focused on improving market access for smallholder farmers in Nigeria. The investment aims to enhance connections between farmers and fast-moving consumer goods (FMCG) companies, strengthening Nigeria’s agricultural supply chains. Agriarche plays a

Jumia, the African Online Retailer, Is Set to Exit South Africa and Tunisia.

Posted on by africanretailteam | 13829 Views | 7 min read
Jumia

Jumia, the Africa-focused e-commerce retailer, will close its South African online fashion platform Zando and its Tunisian operations by year-end to concentrate on other markets, the CEO told Reuters. Jumia is aggressively cutting costs to try to turn profitable, including by reducing head count, exiting everyday grocery items and food delivery and cutting delivery services

IFC and Absa Provide Trade Facility to Valency to Support Thousands of Farmers in Africa

Posted on by africanretailteam | 11554 Views | 11 min read
IFC

IFC, a member of the World Bank Group, and Absa Group Limited, a South Africa based bank, acting through its Corporate and Investment Banking division (Absa), will provide a commodity trade finance facility to Singapore-based Valency International Pte Ltd, a key player in Africa’s agricultural commodities market, to support the company’s pre-export of agricultural commodities

Keeping up With Order Fulfilment in an Always-on and Always-Growing Ecommerce World – Payments and Commerce Market Intelligence (PCMI)

Posted on by africanretailteam | 60382 Views | 14 min read

With online sales in Africa on course to top the trillion-rand mark by 2026, the race is on for ecommerce businesses to claim their piece of the pie. Research by Payments and Commerce Market Intelligence (PCMI) indicates that in the next two years the digital commerce market is expected to reach US$72-billion across South Africa,

The Future of Trade Finance in Sub-Saharan Africa Amidst Hard Currency Challenges – Bank One

Posted on by Initiator | 102707 Views | 29 min read

With foreign exchange shortages plaguing sub-Saharan African economies, Bank One’s Head of Trade, Gerald Ndosi, explains what measures can be taken to overcome US dollar liquidity challenges, promote trade finance, and foster sustainable economic growth in the region International Trade is conducted in the currencies of major economic powers, largely the US dollar, European Union

Arla Foods Inaugurates State-of-the-Art Dairy Farm in Kaduna, Nigeria

Posted on by Initiator | 78435 Views | 25 min read

Arla Foods, maker of Dano Milk, has inaugurated its state-of-the-art dairy farm in Kaduna as part of the company’s efforts to ensure sustainable milk production in Nigeria. The farm located in Damau village, Kubau Local Government Area, Kaduna State, was inaugurated on Thursday, May 25, 2023, by the Executive Governor of Kaduna State, Mallam Nasir

KongaNow: Guaranteed Same Day Delivery for Launch

Posted on by Initiator | 71469 Views | 18 min read

Konga, Nigeria’s leading composite e-commerce group, after two years of extensive research and test-running, is set to further raise the bar of service delivery in the industry with the launch of KongaNow, guaranteed same day delivery of verified products, for which Konga will take complete responsibility. All you need to do is go to www.Konga.com/konga/now

RCS: The Impact of Blockchain Technology on the Retail Sector and its Role as the ‘Fuel for Africa’s Innovation Economy’

Posted on by Initiator | 39335 Views | 21 min read

During its formative years, blockchain technology became synonymous with the advent of cryptocurrency. Today, its use cases have transcended the world of finance, expanding into sectors such as retail. In Africa, its application in payment technology has demonstrated blockchain’s ability to revolutionise several touchpoints from supply chain to final sale. These developments herald good news

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

Posted on by Initiator | 41606 Views | 8 min read

Konga, Nigeria’s leading composite e-commerce platform has partnered with Verve International to reward customers with free shopping vouchers. Tagged Season of Rewards, the campaign, which kicked off on March 1, 2023 will see shoppers receive free vouchers when they shop on Konga.com with their Verve cards. The partnership underpins the commitment of both brands to

Bolt to Invest Over €500 Million in Africa Over Next Two Years as It Surpasses 1 Billion Rides on the Continent

Posted on by Initiator | 37014 Views | 13 min read

Bolt, the leading mobility app in Africa, has announced plans to invest €500 million in its operations on the continent over the next two years. The funds will be used to expand Bolt services in Africa and create opportunities for over 300,000 new drivers and couriers to join the platform in 2023. Having launched in

Africa’s Changing Shopping Trends Allow E-tailers to Meet Customers’ Evolving Expectations to Gain Long-Term Loyalty

Posted on by Initiator | 43964 Views | 17 min read

By Darijan Bošković, Sales Director: Africa at Infobip The African continent is widely considered retail’s next big gold rush, based on its population of 1.4 billion people, which includes more than 500 million internet users and over 330 million eCommerce consumers. Additionally, with 19 of the top 20 fastest-growing countries in the world, the continent’s

Tingg by Cellulant Wins Merchants Payment Company of the Year at the 2022 Nigeria BusinessDay Banks and other Financial Institutions (BAFI) Awards

Posted on by Initiator | 29933 Views | 10 min read

There are more than 400 businesses and outlets using Tingg by Cellulant’s solution across Nigeria  Tingg, Cellulant’s (https://www.Cellulant.io) acclaimed payment platform has been recognized as the ‘Merchants Payment Company of the Year 2022’, award at the BAFI Awards. The recognition was bestowed at the 10th BusinessDay Banks and other Financial Institutions (BAFI) awards event, which was

Jumia Announces Leadership Changes to Support its Journey Towards Profitability

Posted on by Initiator | 12898 Views | 21 min read

New leadership appointed with a plan focused on path to profitability and e-commerce fundamentals Jumia Technologies AG (NYSE: JMIA) (“Jumia” or “the Company”) today announced the appointment of a new Management Board and Acting CEO, while Jeremy Hodara and Sacha Poignonnec, Co-CEOs, will be stepping down effective today. The Supervisory Board has appointed Francis Dufay

L’Oréal, World’s No.1 Cosmetics Brand, Finally Debuts in Nigeria Through KongaHealth

Posted on by Initiator | 17625 Views | 8 min read

L’Oréal, the world’s leading beauty company, is set to finally launch in the Nigerian market after an exclusive distribution agreement was signed with KongaHealth, a leading healthcare distribution company early last week. Headquartered in Paris, France, L’Oréal would be making a grand entry into Nigeria, with feelers indicating that the brand intends to take leadership

Nick Imudia Ends Term at Konga, Prince Ekeh Takes Over as CEO

Posted on by Initiator | 11542 Views | 10 min read

Nick Imudia, Co-Chief Executive Officer (CEO) at Konga, Nigeria’s leading composite e-commerce giant, is set to stand down from the role at the end of September 2022, after a successful term as agreed with the Board of Konga Group while Prince Ekeh, his Co–CEO who just completed his MBA from University of Oxford, England is

Jumia, Coca-Cola Partner to Provide Online Shopping to Consumers In Africa

Posted on by Initiator | 32552 Views | 7 min read

Jumia (NYSE: JMIA), the leading e-commerce platform in Africa, has today announced a partnership with Coca-Cola Africa Operating Unit to offer consumers access to Coca-Cola products from the comfort of their homes. The partnership will provide a steady supply of Coca-Cola’s beverage portfolio to consumers who prefer to shop online through the Jumia platform and

Zipline and Jumia Join Forces to Pioneer Drone Delivery of Thousands of Products to Homes Across Africa

Posted on by Initiator | 19003 Views | 12 min read

World’s leading clean, eco-friendly, automated, on-demand and instant logistics service will serve Jumia’s consumers upon launch Jumia (NYSE: JMIA), the leading e-commerce platform in Africa, and Zipline, the world’s largest instant delivery service, announced today a collaboration to deploy automated, on-demand delivery for e-commerce in Africa. Pilot program and testing were launched a few months

Sabi Opens an Office in Johannesburg to Enable the Digital Transformation of South Africa’s ZAR 157 Billion Informal Economy

Posted on by Initiator | 20737 Views | 11 min read

South Africa’s micro, small and medium-sized traders can now improve their cash flow with more reliable supply chains and better customer marketing using Sabi, Africa’s leading B2B platform for goods and services distribution. SABI is partnering with Vumele to enable and empower South Africa’s informal economy. Sabi recently opened an office in Johannesburg and already

Global Retail Brand LC (Les Copains) Waikiki Joins the Tingg by Cellulant Digital Payment Ecosystem in Zambia

Posted on by Initiator | 39451 Views | 15 min read

LC Waikiki customers will now be able to make payments seamlessly via mobile money in all their branches in Zambia  Cellulant (www.Cellulant.io) Zambia has signed a partnership agreement with leading fashion retailer LC Waikiki, which will enable customers to make payments from all LC Waikiki stores across Zambia through the Tingg digital payment platform. As

KongaPay at House of Lords, London, signs historic partnership with Bibimoney

Posted on by Initiator | 23792 Views | 3 min read

KongaPay, a frontline mobile money platform and a member of the Konga Group, Nigeria’s leading composite e-commerce giant, has signed a landmark deal with Bibimoney, a UK-based industry leader to expand access to financial inclusion for many in Nigeria, while also raising standards in the Fintech ecosystem in Nigeria and beyond. The iconic partnership was

Konga Food Set to disrupt Nigeria’s Online Food Delivery Industry

Posted on by Initiator | 14533 Views | 9 min read

Konga Food goes live Monday, set to raise bar in online food delivery sector Konga Food, the online food delivery arm of Nigeria’s composite e-commerce giant, Konga, is set to formally go live on Monday, May 9, 2022. The much-awaited development is bound to raise the bar of service delivery in the budding online food

Konga set to Dominate E-commerce in Africa – Forbes

Posted on by Initiator | 13515 Views | 13 min read

Forbes hails Konga as beautiful bride of African e-commerce Konga, Nigeria’s leading omnichannel e-commerce group has been identified as a strong player on the verge of dominating the African e-commerce scene. Forbes, a globally renowned media company, focusing on business, investing, technology, entrepreneurship, leadership, and lifestyle, revealed this in a special feature published in its

Smollan | Rise of M-Commerce in Africa

Posted on by Initiator | 20397 Views | 22 min read

There has been a shift from desktop to mobile as Africa embraces the m-commerce shopping experience. Smollan, retail specialist, unpacks what m-commerce means to the African retail market and what retailers need to do to stay relevant and benefit from this movement. In these quick-connection times, Africa’s mobile economy is on the move as shoppers

Woolworths Achieves 100% Responsibly Sourced Cocoa Target

Posted on by Initiator | 15012 Views | 9 min read

Chocolate, often referred to as the ‘food of the gods’, is undoubtedly one of our most favourite indulgent treats. But in recent years, as global supply chains have become more transparent, long-standing issues in the cocoa farming industry have come to light, including deforestation and the generational impoverishment of cocoa farming communities. Cocoa is a

Konga Rolls Out Free Delivery For Shoppers

Posted on by Initiator | 13463 Views | 10 min read

Konga, Nigeria’s leading composite e-commerce giant, has rolled out a free delivery campaign that has heightened excitement among shoppers on its platform. Tagged “It’s the season of Love”, the Konga free delivery offer kicked off on Monday, January 24, 2022. Feelers reveal there is palpable excitement among shoppers, many of whom have wasted no time

Nampak Announces Results for the 12 Months to 30 September 2021

Posted on by Initiator | 28393 Views | 34 min read

Highlights Revenue up 24% to R14bn Operating profit before net impairment losses up >100% to R1.2bn Trading profit up 109% to R1.4bn Cash generated from operations before working capital up 133% to R1.7bn Earnings of 32.1cps and headline earnings of 62.3cps, both up >100% Net debt:EBITDA 2.74 times; EBITDA:interest 4.79 times; complied with covenants Erik

TradeDepot Raises $110 Million To Extend ‘Buy-Now-Pay-Later’ to Retailers Across Africa

Posted on by Initiator | 12482 Views | 11 min read

New funding will support the expansion of the innovative Merchant Platform into new cities. TradeDepot, the leading B2B eCommerce and embedded finance platform in Africa, has raised $110 million in an equity and debt funding round to support the delivery of Buy-Now-Pay-Later services to 5 million SME retailers and drive further expansion of its merchant

Sendbox Raises $1.8 Million to Digitise Deliveries For African SMEs

Posted on by Initiator | 12334 Views | 15 min read

Nigerian fulfillment platform to open up new markets for small-scale merchants and build out West Africa’s e-commerce operating system  Sendbox, the Nigeria-based e-commerce fulfillment platform for merchants in Africa, has today announced the completion of a $1.8 million seed round from investors including 4DX Ventures, Enza Capital, FJLabs and Golden Palm Investments. With participation from

Smollan | What Retailers Need to do to Succeed in the African Market

Posted on by Initiator | 32541 Views | 19 min read

Africa can be a challenging place to do business from infrastructure issues, complex compliance, fragmented markets and dispersed populations and particularly post pandemic, harder lives for ordinary people. One cannot ignore those who have gone before with Massmart announcing earlier this month the sale of Game stores in Kenya, Nigeria, Ghana, Uganda, and Tanzania, citing

Gokada Expands Into Ibadan And Moves Towards Resuming Ride-Hailing

Posted on by Initiator | 12335 Views | 14 min read

Launch in second city after Lagos signals strong growth for Super App ahead of return to ride-hailing and three more new locations in coming months Gokada, the Nigeria-based last mile delivery, logistics and transportation start-up has launched in Ibadan following consolidated growth in Lagos. Following the recent successful launch of its Super App and as

MarketForce Appoints FMCG Distribution Veteran Arthur Bourekas as Chief Commercial Officer

Posted on by Initiator | 10941 Views | 9 min read

Mr. Arthur has over 25 years of experience executing commercial growth, logistics and distribution in some of the most challenging countries in the world MarketForce, the Kenya and Nigeria-based B2B platform for retail distribution of consumer goods and digital financial services in Africa, is pleased to announce the appointment of Arthur Bourekas as the Chief

FG Signs Pact with Konga to Aid Nigerians in Diaspora

Posted on by Initiator | 13993 Views | 18 min read

Konga, Nigeria’s leading composite e-commerce giant, has signed a partnership with the Federal Government through the Diaspora Commission to further strengthen the relationship between Nigerians abroad, their relatives and the nation. To this effect, a Memorandum of Understanding was signed between Konga and the Nigerians in Diaspora Commission (NIDCOM) on Tuesday, September 14, 2021 in

The Search is on for Nigeria’s Next Big Restaurateur

Posted on by Initiator | 10873 Views | 10 min read

Mastercard has announced the launch of its The Kitchen competition in support of the restaurant industry in Nigeria. The initiative calls on aspiring restaurateurs from across Nigeria to submit their entries for consideration in the first edition of The Kitchen. Mastercard has collaborated with Lost in the City to present The Kitchen, with the aim

Imperial Creates Value of Over R200 Billion Over Two Years in Nigeria and South Africa

Posted on by Initiator | 10901 Views | 9 min read

Imperial is pleased to advise that in F2019 and F2020, it created value of R146 billion and R98 billion for its stakeholders and communities in Nigeria and South Africa respectively, as confirmed by a recent Socioeconomic Impact Assessment study undertaken by Accenture. “Imperial plays a key role in connecting Africa and the world and improving

Konga Named Most Innovative E-Commerce Company of The Year

Posted on by Initiator | 12255 Views | 13 min read

KONGA CLAIMS MOST INNOVATIVE E-COMMERCE COMPANY AWARD Konga, Nigeria’s leading composite e-Commerce giant, has been named the most innovative company of the year. The award was presented to the management of Konga at the 2021 Titans of Tech Hall of Fame Awards held on Friday, July 23, 2021 at the Oriental Hotel, Lekki, Lagos. The

Shoprite Holdings | Successful Conclusion of Nigeria Transaction

Posted on by Initiator | 10992 Views | 7 min read

1. INTRODUCTION Shoprite Holdings shareholders (“Shareholders”) are referred to the operational and voluntary trading update released on 3 August 2020 wherein the Company advised Shareholders about the potential disposal of its Nigerian operations (the “Transaction”). Shareholders are hereby informed that the Transaction, effected by Shoprite Holdings through its wholly owned subsidiary Shoprite International Limited (“SIL”),

Konga As E-Commerce Global Game-Changer

Posted on by Initiator | 12366 Views | 28 min read

By: Ray Umukoro When global economy pundits describe Africa as the next frontier, they are merely reacting to strong stimulus coming from the continent, especially in the areas of improving agro-economy, commerce, internet penetration and increasing capacity to harness the abundance of raw materials within the continent. Among these stimuli is e-commerce. Africa is witnessing

South African Manufacturer KAS Africa Secures $10 Million Investment

Posted on by Initiator | 34854 Views | 10 min read

Million-dollar manufacturing deal aims to drive industrialisation and economic growth across Africa KAS Africa, a leading contract manufacturer of personal, home, baby and oral care FMCG products, has received an investment with an aggregate value of $10 million from TRT Investments Limited. The transaction significantly strengthens KAS Africa’s balance sheet and capacity to execute its growth

Konga Health Goes Live June 2021

Posted on by Initiator | 12153 Views | 8 min read

Konga eyes quality health care distribution across Nigeria with Konga Health Konga Health debuts in June Konga Health set to expand access to quality Medicare for Nigerians Konga Health set to debut in June 2021 Konga Health, a highly anticipated digital health care distribution subsidiary of Nigeria’s leading e-Commerce giant, Konga is set to go

81% of Nigeria Consumers are Shopping More Online Since the Start of Pandemic, Reveals Mastercard Study

Posted on by Initiator | 12367 Views | 15 min read

Data top-up (94%), clothing (64%) and beauty products (56%) top the virtual shopping list in Nigeria Top learning experiences include online banking, learning to manage health & get medicines online, cooking & learning a new language Social media has become an integral platform for connecting consumers to online businesses Secure checkout experience recognized as fundamental

African Online Retailer Jumia’s Losses Narrow After Cost Cuts

Posted on by Initiator | 12159 Views | 7 min read

African e-commerce giant Jumia announced that its cost cuts helped it reduce fourth quarter losses by 47% from a year ago as revenues continue to slide, showing that its path to profitability was on course. Jumia, the first Africa-focused tech start-up to list on the New York Stock Exchange, is selling fewer expensive one-off products

Changing Shopper Behaviour with Healthy Fresh Produce Options in India and Nigeria

Posted on by Initiator | 10976 Views | 13 min read

As snacking and healthy eating are growing trends around the world, SPAR has joined forces with the international vegetable breeding company Rijk Zwaan. In SPAR stores in India and Nigeria, new vegetable snacking varieties were introduced aimed at changing shopper behaviour. The focus is on providing innovative, high quality, locally grown healthy fresh produce options

How Konga is Revolutionizing Agriculture in Nigeria Through E-Commerce

Posted on by Initiator | 13692 Views | 18 min read

Konga leverages e-Commerce to boost fortunes of local farmers Konga shows the way, leverages e-Commerce to reposition rural farmers Konga records another first with e-Commerce-enabled Agriculture Konga, Nigeria’s foremost composite retail giant, has once again led from the front, revolutionizing agriculture in Nigeria by leveraging e-Commerce in helping rural farmers access better agricultural inputs such

Kwik Delivery Plugin for Shopify is Released – all Shopify Merchants Can Now Ship Faster with Kwik

Posted on by Initiator | 12185 Views | 5 min read

By installing these plugins, large and small merchants can offer Kwik Delivery’s on-demand, just-in-time delivery service to all their customers Kwik Delivery has announced that it has released its Kwik Delivery plugin for Shopify, allowing Nigeria-based Shopify merchants to seamlessly integrating Kwik’s groundbreaking last-mile delivery service. “Last September, Kwik had become the first African last-mile

Konga Emerges Company of the Year at Business Hallmark Awards

Posted on by Initiator | 12016 Views | 14 min read

Konga Nigeria’s foremost composite e-Commerce giant, has been rewarded with the highly coveted Company of the Year award in the just-concluded People of the Year Awards, 2020 organized by Business Hallmark Newspaper Group. The award, a recognition of the many landmark strides of Konga in the e-Commerce space, is the latest in a growing list

Konga Raises Curtains On Biggest Sale of the Year

Posted on by Initiator | 11761 Views | 11 min read

Excitement is sky-high among bargain-hungry shoppers as Konga Yakata, the Black Friday sales of Nigeria’s e-commerce giant is known, kicked off in the early hours of today, Wednesday, November 11, 2020. Already, thousands of eager shoppers expectedly kept vigil on the Konga website – www.konga.com to be the first to grab the special commencement deals.

Jumia Opens Logistics Service to Third Parties

Posted on by Initiator | 11696 Views | 14 min read

Jumiahas announced that its logistics service is now available for use by third parties. Until today, Jumia’s logistics services were reserved for ecommerce and food vendors operating on its marketplace. Jumia’s logistics services are now open to third party businesses who wish to leverage its network, technology and expertise for last mile deliveries across 11

Jumia Partners Standard Chartered, Samsung, others to offer Consumers Exciting Deals During Black Friday Post COVID-19 Lockdown

Posted on by Initiator | 11466 Views | 9 min read

E-commerce giant, Jumia Nigeria has partnered with Standard Chartered Bank, Samsung, and other brands for the 2020 Black Friday campaign, which is scheduled to begin on Friday, November 6th till 30th, 2020. Other partners include Pernod Ricard, Unilever, Reckitt Benckiser, Intel, Defacto, Umidigi, Michelin, Stanbic IBTC, and others. The chief executive officer of Jumia Nigeria,

phos and Stanchion Collaborate to Connect Merchants in Africa to the Contactless Digital Payment Ecosystem via their Existing Android Mobile Devices

Posted on by Initiator | 55628 Views | 13 min read

Partnership is a game-changer in enabling contactless acceptance for smaller merchants across the continent phos, the fintech behind the first-ever software-only Point of Sale (SoftPOS), and Stanchion Payment Solutions, a global specialist in payments systems and integration, today announced that they have partnered to help payments processing companies and banks to accelerate time to market

Mondia and Jumia Launch Exciting New Gaming Service on JumiaPay App for Consumers in Africa

Posted on by Initiator | 30878 Views | 8 min read

Mondia (https://Mondia.com), a leading technology company which specialises in the marketing and distribution of digital content and Jumia (NYSE : JMIA) (www.Jumia.com.ng), Africa’s largest e-commerce platform, today announced the launch of Jumia Games, a competitively priced entertainment category on the JumiaPay App. In its first phase, the fully branded gaming portal is available in five