Tendo Technologies Limited, a pioneering online retail platform empowering African entrepreneurs, officially announces its strategic acquisition of Shopa, a leading provider of comprehensive commerce solutions for informal retailers across Ghana.
This landmark deal, structured as a combination of cash and stock, is set to redefine the supply chain landscape in Africa. Shopa’s large network of offline distributors, predominantly in the fast-moving consumer goods (FMCG) space, will be leveraged by Tendo to connect with its online retailers, helping to expand its product offerings and widening opportunities for entrepreneurs.
With FMCG already contributing over 30% to Tendo’s current volume and continuously growing, Tendo will enhance its offering and ensure a consistent supply for its resellers. This partnership will also empower FMCG distributors in Africa who have been largely offline to seamlessly unlock new online channels through Tendo’s network of over ten thousand online resellers.
As part of the acquisition, Shopa will also be rebranded to Tendo Retail, a newly formed division under Tendo that focuses on providing informal distributors in Africa with advanced technology to scale their businesses. Shopa’s Chief Executive Officer (CEO) and Co-Founder, Frank Addae, will head this new division, which has extensive experience in digitizing informal retail supply chains. The technologies of the two entities will also be merged to provide a unified experience for users.
Expressing his delight, the Chief Executive Officer of Tendo, Felix Manford, said: “We are excited to have Shopa, an integral provider of technology infrastructure for the informal supply chain in Africa, as part of Tendo Technologies. Our vision at Tendo is to help entrepreneurs and small businesses start and scale their businesses by making supply chains seamlessly accessible. Our partnership with Shopa will enable this, leveraging their advanced distribution technology and wide network of suppliers to deliver unprecedented value to our offline and online retailers. Together, we will revolutionize the retail space in Africa and empower entrepreneurs across the continent.”
The CEO of Shopa further commented: “We are excited to join the Tendo team, an innovative social commerce platform empowering online entrepreneurs in Africa. This partnership will enable us to access Tendo’s resources and capabilities, strengthening our value proposition to African suppliers and manufacturers. Our expanded offerings will increase suppliers’ opportunities to unlock new retail channels and access diverse online and offline markets to scale their businesses. Together with our shared vision and values, Tendo and Shopa will take the informal retail space in Africa to new heights. ”
