Mastercard backs female-focused e-commerce platform Kasha of Rwanda

RWANDA – American multinational financial services corporation Mastercard, has announced a new investment in Rwandan female-focused e-commerce platform Kasha. The two institutions say they will continue their shared efforts to ensure women across emerging markets have essential access to health and personal care products along with the information required to support everyday hygiene needs. Launched in 2018 in Rwanda, Kasha is a platform that allows women across rural and urban locations to make confidential personal care orders. The platform later launched in Kenya in 2019. By utilizing the full product catalogue…

Read More

Retail giant Pick n Pay plans Africa expansion

SOUTH AFRICA – The second largest supermarket chain store in South Africa Pick n Pay, is planning to tap into growth opportunities in the rest of Africa over the long term as it announced a 4.3 percent increase in group turnover to US$6.5 billion during the 12 months ended in February 2021 compared to a similar period a year ago. Presenting his final financial results presentation after 8 years at the helm, outgoing Pick n Pay chief executive Richard Brasher said that the group was planning in a measured way…

Read More

Shoprite finds buyer for Nigerian unit, awaits regulatory approval

NIGERIA – Africa’s largest retailer Shoprite Holdings is said to have found a buyer for its Nigerian subsidiary, Retail Supermarkets Nigeria Limited. Reports by Reuters indicate that Nigerian property group Persianas emerged the winner of a bidding process organized to find a buyer for the business. The Palms shopping mall owner who also houses a Shoprite store in the West African country’s commercial capital, Lagos, is arranging debt for the buyout. While the asset has been valued by the seller at N30 billion (US$73 million), it’s not yet clear how…

Read More

Retail giant Shoprite launches mobile network operator, K’nect Mobile

SOUTH AFRICA – Africa’s largest supermarket retailer Shoprite, has launched its own prepaid mobile network operator called K’nect Mobile, which is set to be implemented in April 2021. The move follows Pick n Pay’s launching of PnP Mobile via MTN’s network infrastructure in 2020, offering customers prepaid and SIM-based access to data and airtime. K’nect Mobile has partnered with digital enabler FREI One Digital and will use Cell C’s mobile infrastructure to offer airtime and data bundles at competitive rates to other networks. “Customers can connect to the prepaid cellular…

Read More

Retail company Mr Price in an all-cash deal to buy Yuppiechef for US$31.6m

SOUTH AFRICA – Publicly traded retailcompany Mr Price has revealed that it has reached an agreement to buy 100% of Yuppiechef, an “omnichannel” retail business focused on kitchenware, for about US31.6 million in cash. The business has two primary operations: Yuppiechef Online, the retail division comprising the online platform and seven stores, as well as a wholesale division, which develops, and imports branded goods for wholesale distribution. Yuppiechef was started as a pure e-commerce company and since 2017 has transitioned into an omni-channel retail platform. “The retail division represents 85%…

Read More

Automotive dealer Motus acquires stake in tech firm Synapt Proprietary to fast-track online vehicle sales

SOUTH AFRICA – MOTUS Holdings, a diversified (non-manufacturing) business in the automotive sector, has acquired a 49 percent shareholding in tech firm Synapt Proprietary, which in turn owns 100 percent of GetWorth, a technology and pre-owned vehicle business that uses its own patented technology. Getworth’s technology and products are used to assist customers “to buy right and sell smart,” a statement from Motus said. However, he value of the acquisition was not disclosed. GetWorth uses Artificial Intelligence and smart products to drive customer offerings and these, coupled with a professional…

Read More

Water equipment supplier Davis & Shirtliff opens new distribution center to boost capacity

KENYA – Water-related equipment supplier Davis & Shirtliff is set to enhance the distribution of its water and energy solutions across the continent with the new centre it has commissioned at Tatu City on the outskirts of Nairobi. The centre with a floor space covering 10,000 square metres is expected to help the firm improve customer experience and play a critical role in addressing perennial water and energy challengers in the region. “Distribution is the core competence that one needs in this digital age. This investment will greatly enhance distribution capacity…

Read More

Construction equipment manufacturer JCB appoints new dealer for South African market

SOUTH AFRICA – JCB, a manufacturer of construction, agriculture waste handling and demolitions, has appointed Bell Equipment Sales South Africa (BESSA) to be its distributor in the key South African market for the full range of JCB construction equipment effective May 1, 2021. JCB general manager for Africa, Andrew Boyers, said, “BESSA has more than 20 branches strategically located throughout the country, highly skilled staff, strong training and development programmes and a market leading position in a number of applications and sectors. Combine that with Bell Equipment’s renowned focus on customers and deep roots…

Read More

Retail-tech startup Powered by People raises US$1.5m seed round for growth

KENYA – Nairobi based retail-tech startup Powered by People has raised US$1.5 million in seed funding to continue its growth in accelerating the revolution of boutique manufacturing.  Powered by People is a mobile-first, distributed manufacturing system offering online tools, financing solutions, and a B2B marketplace to the small and mid-sized enterprises in the creative manufacturing and handmade sector.  The startup connects handmade and natural cosmetic producers across Africa, Asia, and Latin America via a wholesale platform, offering retailers credit lines with flexible payments, discovery of diverse global brands and products, and…

Read More

Hyundai Construction Equipment makes forays into East Africa with NEFC deal

EAST AFRICA – Hyundai Construction Equipment (HCE), an affiliate of the Hyundai Heavy Industries Group, has signed a distributorship agreement with construction equipment dealer NEFC, a move that is set to accelerate its forays into the East African market including Ethiopia, Djibouti, Somalia, Somaliland, and South Sudan. NEFC, which operates many businesses, such as construction, mining, hospitality, aviation, and aviation, is owned by Mohammed Hussein Al Amoudi, Ethiopian- Saudi billionaire businessman who is said to be one of the richest businessmen in the world. As such, NEFC is considered the most influential construction…

Read More