NIGERIA – TradeDepot, a leading B2B e-Commerce and embedded finance platform in Africa, has announced the acquisition of Green Lion, to accelerate the delivery of its services across the country.
Founded in 2018, Green Lion is a fast-growing Ghanian B2B eCommerce platform that is revolutionising access to essential goods and services and enabling digital commerce for neighbourhood retailers in Ghana.
TradeDepot plans leverage Green Lion’s data, technology and robust logistics operations to connect more neighbourhood retailers in more Ghanaian cities.
Expanding into Ghana couldn’t be timelier for TradeDepot as the retail sector valued at US$24.4 billion is expected to reach US$33.16 billion by 2024, with SME retailers accounting for about 90 per cent of the market.
The acquisition will expedite the delivery of TradeDepot game-changing services to more cities to enable increased sales, higher margins and other value-added services for all parties across the retail value chain.
The platform has built a network of leading consumer goods brands and SME retailers across Africa.
It has also created a proprietary risk scoring engine that uses retailers’ purchase history, previous repayment performance and other related data points to predict their creditworthiness.
Through its ShopTopUp platform, the company offers a broad range of consumer goods to SME retailers within its network.
In addition, the platform provides credit lines to enable the retailers to access inventory and pay in instalments as they sell on to their own customers.
“We are excited to bring the Green Lion team onboard to drive growth and prosperity for more retailers and distributors in the country,” said Onyekachi Izukanne, CEO and co-founder of TradeDepot.
“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.”
TradeDepot is committed to building the future of retail in Africa; to make food and supplies accessible and affordable for even the most remote consumers on the continent.
The platform started out with a mission to make milk distribution to small retailers on the continent better, using technology.
Today TradeDepot is scaling out its platform to help reliably distribute food, beverages and personal care products to more communities.
The goal of the B2B eCommerce platform is to be “the supply partner” for Africa’s retail outlets and help every neighbourhood store in Africa consistently get all their supplies at the best possible prices.
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