Retail-tech startup Alerzo acquires payments platform Shago to boost growth

NIGERIA – Retail-tech startup Alerzo has acquired fintech company Shago Payments as it looks to build on already impressive growth that saw its annualized September transaction volume exceed US$155 million. Founded in 2019, the Ibadan-based Alerzo is an all-in-one technology and services platform that transforms how Nigeria’s informal retail stores operate. Retailers can order stock, have it delivered quickly, receive and make cashless payments, and track store profitability better. Alerzo currently works with more than 150,000 informal retail stores. The startup announced a US$10.5 million Series A round, led by London-based Nosara…

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MarketForce appoints FMCG distribution veteran Arthur Bourekas as Chief Commercial Officer

KENYA – MarketForce, Kenya and Nigeria-based B2B platform for retail distribution of consumer goods and digital financial services in Africa are pleased to announce the appointment of Arthur Bourekas as the Chief Commercial Officer, effective 1st October 2021. Mr. Arthur has over 25 years of experience executing commercial growth, logistics and distribution in some of the most challenging countries in the world. He worked for A.G. Leventis (Nigeria) PLC and PZ Cussons in Nigeria, Indonesia, Malaysia and Australia. He is a veteran FMCG distribution expert in Africa, where he has…

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The Foschini Group acquires Flat Circle team to sharpen digital offerings

SOUTH AFRICA – TFG Labs, the new technology arm of local retail chain The Foschini Group (TFG), has completed the talent acquisition of the Flat Circle team, a specialist mobile app development agency based in Cape Town. Launched in 2021, TFG Labs has the mandate to attract the continent’s best tech talent, as the retailer invests significantly in technical capabilities to accelerate its digital strategy. The tech division aims to attract tech talent to develop software and solutions that will redefine the customer shopping experience and reshape TFG’s omnichannel capabilities, said the…

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Electronics company LG launches its new brand shop at TRM

KENYA – LG Electronics (LG), a South Korean multinational electronics company, has unveiled a new brand shop at Thika Road Mall (TRM) in its campaign to take its products and services closer to consumers. The new shop is the latest outlet in LG’s strategy to increase its market footprint in the East African region with new stores in strategic locations that have high sales potential, backed by technical expertise before and after sales to attract and retain customers. This brings to four the number of Brandshops the company has so…

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TVS Motor appoints ETG Logistics as new distributor in South Africa

SOUTH AFRICA – India’s TVS Motor has partnered with ETG Logistics (ETGL) as their new distribution partnership in South Africa. ETGL will operate 30 dealerships for TVS Motor Company in South Africa as part of this partnership and the company will also support TVS Motor with dedicated sales, service, spares and customer relationship management (CRM), including the assembly set-up and training center in Johannesburg. Speaking on the occasion, R Dilip, president – international business, TVS Motor, said: “We are delighted to partner with the reputed global conglomerate, ETGL, to expand…

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Auto financing firm Autochek acquires online marketplace Cheki

EAST AFRICA – Autochek, a Nigerian automotive tech company, has announced that it has reached an agreement to acquire ROAM Africa’s automotive marketplaces Cheki Kenya and Uganda.  Autochek is an automotive technology company facilitating auto financing across Africa with operations in Nigeria and Ghana. The move to acquire Cheki Kenya and Uganda comes just one year after the company successfully acquired Cheki Nigeria and Ghana as part of its launch in West Africa. The deal will be finalized within the following weeks and will see Cheki Kenya and Uganda’s operations…

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Luxury apparel firm Giordano opens fourth Kenyan store

KENYA – Giordano, a Hong Kong apparel retailer has opened its fourth store in Kenya and the first outside of the capital Nairobi, looking to capitalize on the growing Kenyan luxury goods consumer market. The franchise store at Mombasa’s City Mall follows the successful opening of three outlets at the Two Rivers Mall on Limuru Road, at the Garden City Mall on Thika Road and at the Junction Mall on Ngong Road in the capital Nairobi. The store is situated near Mombasa’s affluent upmarket Nyali neighborhood, which is a popular…

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Massmart to sell 14 Game stores in East and West Africa

SOUTH AFRICA – Consumer goods distributor Massmart says it has put up 14 Game stores in East and West African stores for sale to focus on its core strengths as the group losses narrowed during the half-year ended June 2021, reports IOL. Massmart has begun a formal sales process to divest in five Game stores in Nigeria, four in Ghana, three in Kenya, one in Uganda and one in Tanzania. Speaking during the group’s virtual financial results presentation, Chief Executive Mitchell Slape said the company was currently in discussion with…

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Facebook Marketplace rolls out to 37 countries across Sub-Saharan Africa

SUB-SAHARAN AFRICA – Facebook has announced the launch of Marketplace to 37 countries and territories in Sub-Saharan Africa. Currently available in South Africa, Ethiopia, Kenya and Nigeria, Marketplace is a convenient destination where people can discover, buy and sell items from others in their local communities, simply by tapping on the Marketplace icon to browse and search for items or filter by distance or category. Commenting on the launch, Facebook Director of Public Policy Africa Kojo Boakye said, “Increasing the availability of Marketplace to 37 more countries and territories in…

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Retail tech startup MarketForce raises yet another US$100,000 funding from Harambeans Prosperity Fund

KENYA – MarketForce, a Kenyan retail-tech startup had added an additional US$100,000 in funding from the Harambeans Prosperity Fund to the US$2 million pre-Series A round it announced in July 2021. Co-founded in 2018 by Tesh Mbaabu and Mesongo Sibuti, MarketForce enables consumer brands to optimise how they deliver essential goods and services to retailers and consumers by bridging the information gap in last-mile distribution, while maximizing efficiency across the sales and distribution value chain.  The start-up’s platform leverages mobile devices by enabling field agents to record all customer interactions…

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