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Nomanini’s investment in Zambia pays off

By , ITWeb
Africa , South Africa , Zambia , 17 Jan 2022

More than 85% of retail transactions in Africa are within the informal trade sector, and over ten million informal merchants operating in Africa are reached by FMCG distributors, yet the supply chain is hampered by inefficiencies. This is where South Africa-headquartered Fintech platform Nomanini is focusing its attention, service and value proposition.

As an example, the business highlights its gains within Zambia’s Informal retail Micro, Small and Medium-Sized Enterprises (MSMEs) market.

In 2020 Nomanini entered into a technology collaboration with Nestlé and Standard Bank focused on addressing the COVID-19-related challenges faced by retail MSMEs, including establishing a steady, effective digital footprint, disrupted supply chains and reduced consumer sales.

The companies worked together to develop and roll out the Trader Assist platform, enabling merchants to pay for their stock orders using credit in the form of working capital accessed via a simple cell phone app.

The companies said that Trader Assist takes advantage of the open-loop platform developed in 2019 by Nomanini and Standard Bank.

The solution also enables merchants buying Nestlé products to order stock advances with access to credit.

The companies affirm that suppliers benefit “by cementing their relationships with merchants and can take advantage of the resulting brand loyalty by helping them broaden their inventory.”

Esther Mpamba, a grocery store owner in Kanyama, Lusaka, explains: “I have a lot of returning customers that come to buy from my shop. If I do not open my shop, a lot of my customers will complain.”

“Although affected by the COVID-19 pandemic, I was still able to order Nestlé products. Their trucks would come to our community and deliver straight to me. Trader Assist is helping my business progress. It grew my capital, which enabled me to buy more products. For example, with Nestlé I have a three-week payment period. This means I have a window that enables me to buy many other shop items. When that three-week period lapses, I pay my dues and order more products to stock. I get more products now than ever.”

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