Tech

Ex-Jumia executives set to launch new e-commerce platform, Kapu

Published

1 year ago

December 3, 2022

A couple of former executives of e-commerce giant, Jumia, have teamed up to float a new company to be known as Kapu which will be launched next week in Kenya.

In a statement on Friday, leader of the team, Sam Chappatte, who was Jumia’s CEO before leaving the firm in November last year, the new e-commerce platform which will be launched in the east African country before expanding to other countries on the continent.

Other top former Jumia executives who have teamed up with Chappatte who is the founder and CEO of Kapu include Cyrus Onyiego who served as Jumia Travel MD and Jumia Food COO, who is now Kapu’s COO, as well as Stanislas Barth, ex-Jumia Head of Offline Sales who will serve as Head of Supply and Marketing at Kapu.

The new platform, according to Chappatte, is coming at a time Kenya continues to record steady growth in e-commerce.

“According to statistics, e-commerce user penetration is above the regional average, with revenues expected to have a positive annual average growth of 16.4% by 2025.

“With revenue of US$1.1 billion and a share of 76.1%, e-commerce generated the highest digital revenues in 2020. Kenya is also ranked among the top drivers of e-commerce volumes in Sub-Saharan Africa,” he said.

“Just last year, a report by digital payments firm, Visa, revealed that the country’s e-commerce transactions are mainly driven by cross-border merchants.

“This means two things, firstly there is potential for the local e-commerce market to develop, and a need to examine if sufficient acquiring infrastructure exists domestically to enable these players.

‘The growth is driven by both digital payments and cash-on-delivery showing the potential to convert more customers to digital payments through CNP, such as card-on-file and CP SoftPOS or mPOS activities,” he added.

Related Topics:e commerce Featured Jumia Kapu Kenya

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Tech

Google relaunches Hustle Academy with AI focus to empower African SMBs

Published

5 hours ago

May 16, 2024

Akanimoh Etim

Google has relaunched the 2024 cohort of its Hustle Academy, a programme dedicated to accelerating the growth of small and medium-sized businesses (SMBs) in Sub-Saharan Africa.

Making the announcement on Thursday, Google said it is opening of applications for the Hustle Academy with a special focus on using Artificial Intelligence (AI) to provide comprehensive business education, mentorship, and networking opportunities to SMBs.

According to Kristy Grant, Head of B2B marketing for Sub-Saharan Africa at Google, the 2024 cohort of the programme introduces a significant upgrade – business-focused AI training integrated directly into the curriculum.

“This year, the new AI modules focus on data-driven decisions, optimising operations, and building AI-powered marketing strategies,” Grant said.

“AI holds immense potential for African small and medium-sized businesses SMBs, enabling them to drive innovation, increase efficiency, and unlock new levels of economic growth.

“The Hustle Academy has supported over 10,000 businesses who have gone ahead to raise funding and create jobs since inception.

“By incorporating AI into our curriculum, we aim to further amplify this impact, equipping SMBs to harness AI technologies for improved business performance and economic progress,” Grant emphasized.

She added that applications for the 2024 Hustle Academy cohort are open to SMBs in Kenya, Nigeria, and South Africa.

Tech

Latin America’s biggest payment processor PayRetailers expands into Africa

Published

1 day ago

May 15, 2024

Akanimoh Etim

Latin America’s biggest payment processor, PayRetailers, has announced its expansion into Africa with coverage across four countries, Rwanda, Zambia, Uganda, and Tanzania.

A statement by its Chief Operating & Digital Officer, Lorenzo Pellegrino, said by expanding into Africa will offer customers a unified payment solution that will be a game changer for cross-border online merchants looking at Africa as their next move for strategic growth.

He said to strengthen its presence in the continent, PayRetailers is activating its payment processing functions that will “offer a simple, user-friendly, and scalable experience to businesses looking to grow their regional operations and give them access to major local methods like SPENN, Airtel, and MTN.”

“This market is increasingly connected and mobile and destined for strong growth, which is why PayRetailers, in its mission to increase financial inclusion and continue supporting business growth in emerging markets, has decided to activate its networks in the region and drive this exciting era of prosperity,” Pellegrino said.

“As a part of our strategic expansion, we are extending our coverage to four markets in Africa, at least to start with. Over the coming months, we plan to steadily expand our operation in the continent, which is experiencing incredible growth in the payments industry and has massive potential for merchants looking to diversify and broaden their consumer base.

“Using the stellar and continuous growth we have experienced in LATAM as our guide, we are well-poised to help businesses thrive faster and more sustainably.

“We recognize the immense potential and significance of venturing into these dynamic markets.

“Each new addition to our market coverage is a gateway into untapped opportunities and strengthened partnerships, ensuring our sustained growth and global relevance.

“Our imminent expansion into additional countries across West, North, and Southern Africa underscores our commitment to empowering our clients and connecting them with diverse consumer bases across the continent.

“From May onward, businesses will be able to operate in the region using PayRetailers for their online users, representing a major milestone for its client portfolio and its innovation strategy for 2024,” the statement said.