The boom in Africa’s B2B ecommerce space is starting to lead to consolidation between potential competitors. One example is in West Africa where TradeDepot, a 6-year-old Nigerian startup that uses a mobile app to help retailers order consumer goods from manufacturers, has bought Green Lion, a Ghana-based company in the same line of business. TradeDeal had started a pilot in Ghana in 2021 to understand the landscape but decided to acquire Green Lion instead of building from scratch because it was a more efficient expansion strategy. 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 installments as they sell on to their own customers.
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