TradeDepot, one of Afrika’s leading B2B e-commerce and embedded finance platforms, has acquired Green Lion, a growing B2B e-commerce platform in Ghana. TradeDepot has indicated that the acquisition forms part of its plans to accelerate the delivery of its services across Ghana.
Green Lion's focus in Ghana has been on improving access to essential goods and services, and enabling digital commerce for neighborhood retailers.
“Ghana represents a significant market for consumer goods in Africa and we are excited to bring the Green Lion team onboard to drive growth and prosperity for more retailers and distributors in the country. We look forward to deepening our relationship with the market and working with more partners to maximise the opportunities that abound in Ghana and beyond,” said Onyekachi Izukanne, CEO and co-founder of TradeDepot.
Ghana's growing retail sector
Ghana’s retail sector is reported to be valued at $24,4 billion and it is expected to reach $33,16 billion by 2024. SME retailers are said to be responsible for approximately 90% of the retail market.
The acquisition is not the first time that TradeDepot will be operating in Ghana. The company already has active operations in Ghana, added to its operations in Nigeria and South Africa and this acquisition is expected to expedite the delivery of its services to more cities to enable increased sales, higher margins and other value-added services for all parties across the retail value chain.
Enabling digital commerce
Founded in 2018, Green Lion has been committed to making access to essential goods and services easier, and enabling digital commerce for neighborhood retailers in Ghana.
The value that TradeDepot will add to Green Lion is expected to be through leveraging its data, technology and logistics operations to connect more neighborhood retailers in more Ghanaian cities to suppliers and make financing more accessible and affordable.
“We are delighted to be joining the TradeDepot family and continuing our work to help neighbourhood retailers across Africa thrive. It is an exciting time for B2B ecommerce in Africa and we are thrilled by the opportunity to drive more value in the Ghanaian ecosystem and all over the continent,” said Jorge de Rojas from Green Lion.
Expanding operations across Afrika
Previously, in an interview with iAfrikan.com, TradeDepot's Izukanne indicated that they would be looking to expand across Afrika and not just in Nigeria. Specifically mentioning Ghana and South Africa.
TradeDepot has built a network of leading consumer goods brands and SME retailers across Africa, and created a proprietary risk scoring engine that uses retailers’ purchase history, previous repayment performance and other related data points to predict their creditworthiness. Via its ShopTopUp platform, the company offers a broad range of consumer goods to SME retailers within its network and provides credit lines to enable these retailers to access inventory and pay in instalments as they sell on to their own customers.
TradeDepot will take on all existing Green Lion Africa relationships and assets in Ghana. The Green Lion team will also be joining TradeDepot to support the mission to build the future of retail and make food and supplies more accessible and affordable for even the most remote consumers on the continent.
— By Tefo Mohapi