2022: The Year in Review
2022 Review
Every year we like to do a recap of what each month looked like for us, and considering 2022 seemed so much better than anyone expected, it’s only befitting to keep this tradition going. I encourage you to do a recap for yourself. As you comb through your calendar or social media feed to see all that you did this year, try to focus more on all that you were able to accomplish, and less on the plans that got scrapped.
This is the recap of what the MarketForce administration has achieved through the collective effort of all executives and the support of the employees across all 5 markets we currently operate.
– MarketForce raised $40m series A to scale up the super app for Africa’s informal merchants. Launched Uganda, Rwanda, Tanzania and started full operation in Nigeria, January 2022.
– MarketForce clocked 200+ merchants in April, 100% more than we did the whole of 2021
– KPMG East Africa announced MarketForce as Tech leading innovator in East Africa in June
– BNPL launched in all markets (except TZ) in August
– MarketForce was featured on CNBC Africa in September. In the interview, Sneha Sanghrajka Shah speaks to CNBC Africa about how African startups like MarketForce are solving African problems and reaching global scale in the process.
– Still in September, MarketForce crossed 10k+ on LinkedIn. The numbers represented something pretty special — the community we’ve built and treasure, connections that have formed our network, interactions that have turned into opportunities, and a dedicated team.
– Transitioned to the GiG model for sales generation in all markets
– MarketForce participated in the Last Mile Money program by IDEO, a global collaborative network focused on connecting underserved communities to the digital economy, in September.
– In September, Tesh Mbaabu was selected to represent the Tech sector, presenting MarketForce to the President of Kenya Dr. William S. Ruto, and other Captains of the Industry at the Kenya Association of Manufacturers 20 by 30 High-Level Meeting. He represented the technology sector, the youth, and over 7.4 million SMEs who employ approximately 15 million Kenyans across various sectors of the economy.
– MarketForce won the 2022 Inclusive Fintech 50 (IF50), a reputable global innovation competition powered by the Center for Financial Inclusion, in October
– MarketForce clocked 750K+ orders in October
– Stanford University Graduate School of Business formally published a case study on MarketForce in November. Click here to read the case study
-Tesh Mbaabu won the People’s Choice Award and a $250,000 grant in Africa Business Heroes Prize in November
– MarketForce co-founders ranked among the top 40 under 40 men in an annual publication by Business Daily Africa in November
– In our end-of-the-year event in December, our Sales and Finance teams announced that MarketForce had achieved GP+ across all markets, 100% retailer app adoption in Rwanda, 6x growth in revenues, and 7x growth in GMV, all within the year, 2022
Indeed, there were plenty of things to celebrate in 2022, and we made many fantastic memories thanks to our people who drive the incredible spirit of MarketForce. We can’t wait to see what 2022 has in store for us!
Will you join us on our journey? Click here to find the role you may genuinely love.
