Monday, June 5, 2023
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Funding

Catalyst Fund invests in four Ghanaian digital commerce startups

Tech Gist Africa by Tech Gist Africa
11/03/2021
in Funding, News - West Africa, Opportunities, Startups, The Big 5, Venture Capital
0 0
0
Catalyst Fund

Catalyst Fund

0
SHARES
Share on FacebookShare on Twitter

The Catalyst Fund Inclusive Digital Commerce Accelerator welcomed OZÉ, Shopa, Swoove, and Tendo, four Ghanaian digital commerce startups, as the second cohort to receive investment and support.

The Accelerator, which is run by BFA Global in collaboration with the Mastercard Foundation and the Meltwater Entrepreneurial School of Technology (MEST), aims to help Ghana’s micro and small businesses become more resilient (MSEs).

For Ghana’s informal MSEs, the companies chosen for the second cohort are solving difficulties in the retail sector. Digital logistics, delivery services, digitization of merchant records, inventory management, and access to affordable inventory finance are among the options they offer to help MSEs shift digitally.

Each of the four firms will get a grant of up to $120,000, as well as tailored expert-led venture acceleration support, links with Catalyst Fund’s growing worldwide Circle of Investors and Circle of Corporate Innovators, and MEST’s in-market experience.

“Informal MSEs, many of whom are young and female, get by with a piecemeal approach to digital commerce, frequently marketing using Facebook, Instagram, and WhatsApp, collecting in-person payments, and manually addressing delivery, which is expensive and places the risk and heavy lifting on the retailer.” “Companies like OZÉ, Shopa, Swoove, and Tendo are solving this problem by providing easy-to-use and affordable digital commerce services, which is accelerating the growth of Ghana’s digital commerce ecosystem,” said Jane del Ser, Program Director for the Catalyst Fund Inclusive Digital Commerce Accelerator.

Initial research conducted at the program’s launch on urban and peri-urban retail shops around Accra found that online and niche marketplaces, tech-enabled integration for logistics and delivery, digitization of inventory management and purchasing, and trust-building solutions are among the most promising areas for Ghanaian digital commerce innovation. The initial cohort — Boost Ghana and KudiGo – focused on digitization solutions.

“Thousands of young Ghanaian women and men rely on Ghana’s informal micro and small businesses to provide work opportunities and maintain their livelihoods.” By speeding the spread of viable digital commerce solutions, informal MSEs will be able to implement digitalization in a way that best matches their needs, allowing them to expand and achieve their goals, according to Chirag Shamdasani, Mastercard Foundation Innovation Lead for Ghana.

The Investment Advisory Committee, which included representatives from Acuity Ventures, Chandaria Capital, 4DX Ventures, Golden Palm Investments, mPharma, and Novastar Ventures, approved each business in this cohort.

Here are the digital commerce startups selected:

  • OZÉ enables MSEs to become better businesses and better borrowers. Businesses keep digital financial records on OZÉ which in turn provides them with the insights and information they need to make better decisions. This improves their performance and enables them to access much-needed formal credit such as inventory financing. 97% of high-active OZÉ users were growing, profitable, or both.
  • Shopa is redefining Africa’s informal retail distribution and supply chain by connecting last-mile retailers with suppliers and enabling access to stock on cash or credit. Leveraging digital tools and an integrated delivery network, Shopa helps informal retailers to restock and receive delivery within 4 hours, without ever leaving their shop.
  • Swoove connects e-commerce businesses with accessible logistics services at an affordable price, through its app and USSD short code, while creating opportunities for youth and female entrepreneurs and revenue streams for households. Swoove already partners with MTN and has the potential to be an enabler for the larger digital commerce ecosystem to address logistics challenges.
  • Tendo enables anyone in Africa to sell online with zero upfront inventory – their platform connects dropshippers to wholesalers. The sellers on the platform are able to source products through Tendo and resell items using social commerce tools, such as WhatsApp, arrange delivery, and get paid, all through the Tendo mobile app.

 

Read more on Tech Gist Africa:

The Algerian Startup Financing Fund has launched a $7.2 million fund to invest in the country’s most innovative startups

Uganda Green Enterprise Finance Accelerator is now accepting applications from SMEs providing sustainable energy services

Organon and Flat6Labs have launched a femtech Accelerator for female digital healthcare startups in the MENA region

ShareTweetShare

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

Meta has unveiled its Quest 3 virtual reality (VR) and mixed reality (MR) headset
Competition

Nearpays, a Nigerian startup, wins a fintech prize at Gitex Africa

by Tech Gist Africa
06/05/2023
0

Nearpays Technology Limited has won the Supernova Challenge's Fintech and Blockchain category at GITEX Africa in Morocco. Nearpays received a...

Read more
PrestaFreedom Morocco

PrestaFreedom, a startup offering home services in Morocco, has secured US$1.1 million in funding

06/05/2023
Meta has unveiled its Quest 3 virtual reality (VR) and mixed reality (MR) headset

Zofi Cash, a fintech startup in Uganda, has received pre-seed funding of $1 million

06/05/2023
African Banker Awards 2023

The winners of the African Banker Awards for 2023 have been announced

06/01/2023
Dawi Clinics Egypt

Dawi Clinics in Egypt raises $6.5 million to fund its expansion

06/01/2023
Next Post
Airtel Africa

Airtel Africa and UNICEF are collaborating to expand digital learning opportunities for African children

ShipBlu

ShipBlu, an Egyptian eCommerce fulfillment startup, has raised $2.4 million in seed funding

Autochek

Autochek has raised $13.1 million in funding to expand its auto lending platform across Africa

No Result
View All Result

The Big 5

African Banker Awards 2023

The winners of the African Banker Awards for 2023 have been announced

by Tech Gist Africa
06/01/2023
0

...

Egypt Entrepreneur Awards 2023

The third annual Egypt Entrepreneur Awards selected 35 finalists

by Tech Gist Africa
06/01/2023
0

...

ygap South Africa’s accelerator 2023

The ygap South African Accelerator program is now accepting applications

by Tech Gist Africa
06/01/2023
0

...

Regulatory Tech Africa

Analyzing the regulatory climate in several African countries from the perspective of the technology sector

by Tech Gist Africa
05/22/2023
0

...

Africa Food Prize

The $100,000 Africa Food Prize is now accepting applications

by Tech Gist Africa
05/18/2023
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.