Kenya’s Nomanini Launches Supply Chain Finance App

Kenyan FinTech platform Nomanini has launched StockNow, a supply chain finance solution designed to connect fast moving commercial goods (FMCG) and financial service providers, according to a Monday, June 27 press release.

The app enables informal microenterprises and small and medium-sized enterprises (SMEs) in Africa to purchase shares digitally, the statement said.

“Ten million informal retailers in Africa are impacted by FMCG global value chains, but lack access to responsible and affordable financing solutions to keep their shelves stocked to attract customers and grow their activities,” the statement said. “The StockNow app connects informal retailers to distributors of relevant fast-moving global consumer brands in the general trade market, allowing them to purchase goods using stock advances to keep their shelves stocked with essential goods, ensuring business continuity and last mile consumer support.”

StockNow was launched in Tanzania in partnership with Nestlé ESAR and is designed to ease some of the burdens on African retailers as they recover from the fallout of the pandemic. Nomanini CEO Vahid Monadjem said in the statement that COVID-19 underscores the value of these retailers to their communities.

“And unfortunately, their lack of access to responsible corporate finance solutions means they are particularly vulnerable during and after times of crisis,” he said in the statement. “In response to the challenges we have seen retailers face during the pandemic and associated lockdowns, we have created the opportunity to accelerate the development of our digital working capital solutions to provide tools to help retailers keep their shelves stocked with essentials.”

After the launch in Tanzania, Nomanini plans to bring StockNow to countries in Africa, including Egypt, Uganda, Mozambique and the Democratic Republic of Congo.

Tanzania was also the launch point earlier this year for Dubuy.com, a wholesale e-commerce platform operated by DP World.

Read more: DP World launches B2B platform in Tanzania

The Marketplace is designed to give users greater access to international markets, as well as a safer and more reliable supply chain. The platform allows Tanzanian companies to wholesale products in many categories.

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About: PYMNTS’ survey of 2,094 consumers for The Tailored Shopping Experience report, a collaboration with Elastic Path, shows where merchants are succeeding and where they need to up their game to deliver a personalized shopping experience.

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