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Ghanaian retail-tech startup Tendo acquires rival Shopa

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Ghanaian retail-tech startup, Tendo Technologies, has successfully acquired rivals, Shopa, in a deal it says is aimed at revolutionising supply chain infrastructure across Africa.

Tendo’s CEO and co-founder, Felix Manford, who made the announcement on Friday, said as part of the acquisition, Shopa would rebrand to Tendo Retail, a newly formed division of Tendo to be headed by Shopa CEO and co-founder, Frank Addae, and would focus on providing informal distributors in Africa with advanced technology to scale their businesses.

“We are excited to have Shopa, an integral provider of technology infrastructure for the informal supply chain in Africa, as part of Tendo Technologies,” Manford said.

“Our vision at Tendo is to help entrepreneurs and small businesses start and scale their businesses by making supply chains seamlessly accessible.

“Our partnership with Shopa will enable this, leveraging their advanced distribution technology and wide network of suppliers to deliver unprecedented value to our offline and online retailers. Together, we will revolutionise the retail space in Africa and empower entrepreneurs across the continent,” he added.

On his part, Addae said he was excited to join the Tendo team as the partnership will enable his company to “access Tendo’s resources and capabilities.”

“This partnership will also strengthen our value proposition to suppliers and manufacturers in Africa. Our expanded offerings will include greater opportunities for suppliers to unlock new retail channels and access diverse online and offline markets to scale their businesses.Together, with our shared vision and values, Tendo and Shopa will take the informal retail space in Africa to new heights,” he said.

Tendo which was founded in 2021 by Manford, Evans Boateng, Derrick Mungai, and Primerose Katena, enables tens of thousands of individuals to launch and grow their online businesses without initial capital by connecting them with suppliers.

It boasts a robust network of over 10,000 retail resellers in Ghana and Nigeria, where it launched in 2022, reaching more than 42,000 customers with a diverse range of products including fashion, beauty, electronics, and fast-moving consumer goods (FMCG).

Shopa was also founded in 2021 by Michael Hammond, Frank Addae and Ulrich Checkap, and optimises the distribution of FMCG through its technology platform that connects retailers directly with suppliers and manufacturers. It has a network of over 3,000 retailers in Ghana, and advanced operational systems.

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Bolt invests $107m in Nigeria to boost safety standards

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Ride-hailing platform, Bolt, has announced an investment of $107 million in its bid to boost safety and service quality in Nigeria’s ride-hailing sector, with a special technology enhancing safety standards for both drivers and passengers.

Lola Masha, Bolt’s Regional Manager for North and West Africa, who made the announcement in a statement, said the “investment will fund new safety technologies, accident prevention measures, customer support upgrades, and public safety awareness campaigns, underscoring Bolt’s commitment to providing a secure and reliable platform.”

She revealed that as part of its quality check, the company had removed more than 5,000 drivers from its platform in 2023 so as to cleanup its database cleanup effort and will continue to implementing a driver score system to maintain quality standards.

“The driver score evaluates performance by monitoring how frequently drivers accept ride requests, successfully complete trips, and respond to passenger feedback. Essentially, it rates drivers based on their performance over their last 100 trips,” she noted.

Masha emphasized that the move came as a result of complains by the Amalgamated Union of App-based Transporters of Nigeria (AUTON) which raised concerns about the potential downsides experienced by users and the psychological stress on drivers, which could negatively affect their performance.

According to her, among the upcoming features are a four-digit trip pickup code and a trip counter, both aimed at making rides more secure and dependable for all users.

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Egyptian VC Flat6Labs partners ITIDA to launch programme for tech startups

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Egyptian Venture Capital firm, Flat6Labs, has partnered with Egypt’s Information Technology Industry Development Agency (ITIDA) to launch an InvestIT programme which will offer tech startups in the country, particularly at the seed or pre-Series A stages, access to consultancy, tools, and investor connections to help them scale operations and enhance global competitiveness.

The programme, according to Egypt’s Minister of Communications and Information Technology, Dr Amr Talaat, will be run by the Technology Innovation and Entrepreneurship Center (TIEC), a subsidiary of ITIDA, and will support startups across various governorates, encouraging innovation and growth in Egypt’s digital economy.

“Through two phases, it will prepare startups for investment with tailored training sessions and workshops, followed by connecting them with local and international investors,” Talaat said in a statement.

“The Egyptian government remains steadfast in its dedication to cultivating a thriving tech startup ecosystem. We are rolling out diverse initiatives to equip entrepreneurs with essential skills, attract global incubators, and facilitate connections between startups and investors.

“By establishing Digital Egypt innovation hubs nationwide, we empower innovators to transform their ideas into successful ventures.

“Alongside this, we are streamlining processes and investing in advanced digital infrastructure, positioning Egypt among the top three countries in the Middle East and Africa for tech startup investments,” the Minister said.

Flat6Labs founder and chairman Hany El Sonbaty, who also spoke on the initiative, said the launch of the InvestIT programme has further expanded his company’s support for Egyptian entrepreneurs.

“This programme is not just about preparing startups for investment; it’s about equipping them with the tools and connections to scale their impact.

“Through our collaboration with ITIDA and TIEC, we’re committed to building a strong, vibrant ecosystem where startups can make a real impact on the tech landscape in Egypt,” he said.

The programme, he said, will support 12 startups over six-to-eight months with each startup receiving tailored consultancy services to enhance their investment readiness and assist with setting up data rooms and preparing for investor engagements.

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