MarketForce and Pezesha partner to offer affordable merchant finance
MarketForce was born to bridge the gap in retail distribution by delivering an end-to-end platform that enables consumer brands to deliver essential goods and services to retailers and consumers. We have been revolutionizing the retail economy in emerging markets by digitalizing the entire distribution value chain since 2018. 90% of trade in Africa is through corner shops, spaza shops in South Africa, or dukas in Kenya. The market itself is fragmented and highly informal. This is why MarketForce is here to help tackle this issues. And we are happy and committed to continuously provide solutions that enable our merchants to do more and grow financially.
As part of our commitment to digitize retail distribution in Africa, MarketForce has partnered with Pezesha to offer affordable inventory & wholesale distribution financing to the Marketforce merchants. Merchants being local, self-employed and small retail business fall under the informal sector are engines for growth and vital for many economies. In Kenya alone, merchants play a key role in economic development and job creation. The merchants have a maximum annual turnover of KES 500,000 and employ less than 10 people (who could be family, relatives or friends). It is estimated to constitute 98% of business in Kenya, contributing 30% of jobs and 3% of Kenya’s GDP.
At the same time most merchants lack adequate finance and have limited access to credit from financial institutions such as commercial banks. Consequently, most of them resort to borrowing from friends and relatives which is inadequate to cater for all their needs such as paying the distributors and buying stock to stock up their shops. As a result the merchants get reduced sales and end up not satisfying and retaining their customers.
With this partnership towards bridging the gap between the merchants and distributors, Pezesha and MarketForce are also committed to provide value added services such as financial literacy and digital tools to help retailers streamline their records and build digital transactions that over time boosts their creditworthiness to qualify for affordable credit.
Through this partnership we aim to reach at least 10,000 merchants and help them grow their revenue and sales by at least 15%-25% by enabling them with access to affordable inventory credit to adequately cater for their customer demands.
“This partnership with Marketforce is timely as it allows Pezesha to embed credit in a cost effective way through the existing distribution process, in the end propelling small retailers survive, thrive and grow during the current pandemic.” Hilda, CEO of Pezesha.
“We are excited to partner with the innovative Pezesha team to offer our customers much-needed inventory financing. We’ve co-designed a credit product that is affordable and accessible instantly, ensuring retailers never run out of stock.” Tesh, CEO of Marketforce
About Pezesha: A digital financial marketplace platform for SMEs. Pezesha enabler platform offers embedded end to end financial solutions from affordable business credit to alternative credit scoring, financial education and loan management solutions.
About Marketforce: A digital end to end mobile solution that streamlines distribution and supply chains to manage their sales efficiently and achieve growth optimization.
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