To speed the distribution of its services across the country, TradeDepot, Africa’s leading B2B eCommerce and embedded finance platform, has announced the acquisition of Green Lion, Ghana’s largest and fastest accumulating B2B eCommerce platform.
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Green Lion was founded in 2018 with the goal of revolutionizing access to vital goods and services while also enabling digital commerce for local shops in Ghana. Using its data, technology, and robust logistics capabilities, TradeDepot will connect more neighborhood businesses in more Ghanaian cities to suppliers, making finance more accessible and inexpensive.
About Ghana’s Retail Sector
Ghana’s retail sector is worth $24.4 billion and is predicted to grow to $33.16 billion by 2024, with small and medium-sized businesses accounting for about 90% of the market. TradeDepot already has operations in Ghana, as well as Nigeria and South Africa, and this acquisition will speed up the delivery of its game-changing services to more cities, allowing all parties in the retail value chain to benefit from increased sales, higher margins, and other value-added services.
What We Know About TradeDepot and Green Lion Africa
TradeDepot has built a network of leading consumer goods brands and small- and medium-sized businesses (SMBs) across Africa, as well as a proprietary risk scoring engine that predicts creditworthiness based on a retailer’s purchase history, previous repayment performance, and other related data points. The company offers a wide selection of consumer items to SME shops in its network through its ShopTopUp platform, as well as credit lines that allow these retailers to access inventory and pay in installments as they sell to their own customers.
We look forward to strengthening our links with the market and collaborating with more partners to take advantage of the numerous prospects available in Ghana and beyond.”
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“We are happy to be joining the TradeDepot family and continuing our work to help neighborhood shops thrive across Africa,” said Green Lion’s Jorge de Rojas. It’s an exciting time for B2B eCommerce in Africa, and we’re excited about the chance to add value to the Ghanaian ecosystem and the continent as a whole.”
Green Lion Africa’s existing contacts and assets in Ghana will be taken over by TradeDepot. The Green Lion team will also join TradeDepot to help develop the future of retail by making food and supplies more accessible and inexpensive to even the continent’s most remote consumers.