Hennie Heymans, CEO of DHL Express sub-Saharan Africa (Source: Deutsche Post DHL)
DHL acquires a stake in their strategic partner company, Link Commerce, in support of growing e-commerce in Sub-Saharan Africa and other global emerging e-commerce markets; Africa’s online retail market predicted to reach an 11-digit dollar value in 2020.
DHL Express today announced its minority stake acquisition in Link Commerce, the UK-based e-commerce firm that helped the logistics company develop its hugely successful DHL Africa eShop platform.
Hennie Heymans, CEO of DHL Express sub-Saharan Africa, says that the acquisition demonstrates the company’s commitment to growing e-commerce on the continent. “Acquiring a stake in Link Commerce – the company behind the MallforAfrica.com platform – shows our tremendous support of e-commerce in Africa. It also positions us to realize our ambitions of growing the eShop offering globally, and work on the scalability of the platform when the opportunity arises.”
”DHL’s investment in Link Commerce is a perfect fit. With the DHL investment we are now able to grow faster by leveraging the amazing shipping network DHL has built globally. This will help us expand our white-label turnkey B2B eCommerce platform and provide online shoppers with the ability to shop more and get more at great shipping rates fast.” said Chris Folayan Founder and CEO of Link Commerce and Mall for Africa.
Just over one year on from its initial launch, the DHL Africa eShop continues to see massive growth in sub-Saharan Africa. Heymans notes that the DHL Africa eShop has consistently outperformed expectations since its launch. “The platform was developed in partnership with Link Commerce and initially launched in 11 African countries in April 2019. It was an immediate success, gaining around 5,000 subscribers within the first six weeks. Today, DHL Africa eShop is live in 34 countries across Sub-Saharan Africa with tens of thousands of users across the continent.”
The DHL Africa eShop offers African consumers unprecedented access to international retailers via an easy-to-use platform, with great convenience, speed and reliability. “DHL Africa eShop enables African customers to shop directly from over 200 US- and UK-based online retailers, with purchases delivered directly to their door, by DHL Express.”
Heymans adds, “Online buying behaviours and product mixes have evolved quite significantly since the onset of COVID-19. Some of the most popular items on the platform now include productivity and communications devices to support remote working, home and kitchen appliances, entertainment gadgets and health related products, in addition to the historic orders of fashion and beauty products. Consumer interests have shifted towards goods that are harder to source locally. With brick-and-mortar retailers in many regions operating at reduced capacity, consumers have turned to online shopping to acquire the goods they need. It’s been great to see eShop providing vital online shopping access during this time, with impressive growth coming from countries like Nigeria, Ghana, Rwanda, Angola, Uganda and Kenya during the various stages of lockdowns, and with South Africa back on board to access e-commerce, we are thrilled for our users to be able to use service offering once more.
Just over one year on from its initial launch, the DHL Africa eShop continues to see massive growth in sub-Saharan Africa
Assurance for delivery has become a top priority for consumers,” says Heymans. “ Basket sizes have also increased, as shoppers seek to get all of what they need immediately, rather than to space out their orders. Online shopping supports the ultimate level of social distancing – connecting consumers to everything they need at a click of a button.
Heymans explains that while the e-commerce market in Sub-Saharan Africa has been largely overlooked by international retailers in the past, it currently offers some of the biggest opportunities for rapid growth in the world.
E-commerce is proving to be one of the most important and fastest-growing market sectors in Africa. A report published by Rapid B2C forecasts that Africa’s online retail market will reach an 11-digit dollar value in 2020, while another report by the McKinsey Global Institute estimates that this value could potentially reach $75 billion by 2025.
“These growth predictions, coupled with the incredible demand and quick uptake of the DHL Africa eShop offering, confirm that this acquisition is the right move to ensure DHL Express is geared for continued growth,” adds Heymans.
As part of the acquisition, Heymans has been made a board member of London-based Link Commerce Ltd. “We have no doubt that deepening our partnership with Link Commerce in this way will take both companies, as well as e-commerce on the continent and new markets across the globe, to new heights. I am honoured to take on this new role as part of DHL’s growth strategy.”
“ At Link Commerce our strategy is to help businesses grow and provide shoppers globally with access to US and UK online retailers like never before. DHL’s investment in the company gives us that edge we need to expand rapidly globally and access to products like never before,” said Chris Folayan, Founder and CEO of Link Commerce Ltd.
With operations across 51 markets in Sub-Saharan Africa, servicing customers, efficient delivery is an important factor for DHL Express. “Our strategic investments in innovative technology and connectivity across the region, are all aimed at promoting global trade and ensuring that businesses and individuals across the continent can leverage global opportunities,” Heymans concludes.
Source: Deutsche Post DHL
North Ladder Secures $5 Million Series A Financing Round To Accelerate Global Expansion
North Ladder Team (Source: Siddharth Sudhakar)
North Ladder (previously called BuyBack Bazaar), a UAE based secured trading platform for pre-owned luxury assets and electronics, today announced a $5 million Series A funding round led by regional venture capital firm BECO Capital. The new investment will help the company scale up its technology platform, enhance customer experience and pursue further geographic expansion.
The homegrown start-up also revealed that it will begin operating under the new brand name North Ladder effective immediately, representing the company’s strategy of charting new markets and supporting individuals across the globe in their endeavour to elevate their financial situation. The disruptive and innovative technology platform is the first of its kind, providing access to verified buyers of second-hand goods and instant cash. North Ladder currently enables users to sell electronics such as phones, laptops, tablets, and smart watches, as well as luxury assets including watches and cars, with a unique option of buying it back within a few months.
The Series A financing builds on an exceptional year for North Ladder which saw rapid growth of its clients, network of buyers and corporate partnerships. To date, the platform has witnessed over 15,000 transactions in the UAE, with over 85 different nationalities served while earning an impressive 4.9/5 customer satisfaction rating. In 2021, the start-up is looking to establish its presence in the Kingdom of Saudi Arabia and the United States, with a focus on scaling the platform significantly in the next 18 to 24 months.
“North Ladder has demonstrated tremendous success with its unique model of helping customers access immediate funds against their assets. The provision of a seamless and trusted digital platform for the sale of pre-owned goods has immense socially transformative potential at a global scale. We are excited about partnering with them to take their services to the next level,” said Dany Farha, CEO & Managing Partner, BECO Capital.
The company recently appointed Sandeep Shetty, former Managing Director of the core ride hailing business at Careem, as Cofounder and Chief Executive Officer of North Ladder. Prior to Careem he also led the digital transformation program at Emirates NBD and has held leadership positions at McKinsey & Company and GE Capital across India, the United States and the Middle East. Sandeep joins the leadership team of co-founders Pishu Ganglani and Ricky Husaini who together bring years of prior global start-up, financial services, technology and operations experience.
“Our exciting partnership with the region’s leading investor BECO Capital gives us the opportunity to scale operations in the UAE and expand to other strategic markets, with the mission of meaningfully impacting people across all strata of society,” said Sandeep Shetty of North Ladder. “Our global auction brings professional buyers from around the world to compete and provide local customers with the best prices and no hidden surprises.”
Since its launch in 2018, North Ladder has been recognized as one of the “Top 5 innovative start-ups in the MENA region” by PayPal backed accelerator, Village Capital and awarded as an Innovator by Entrepreneur Middle East.
Legacy Premier Foundation Congratulates New World Trade Organisation (WTO) Head Dr Ngozi Okonjo-Iweala
Ngozi Okonjo-Iweala © AFP via Getty Images
The entire team at Legacy Premier Foundation hereby congratulates Dr Ngozi Okonjo Iweala as the new chief of the World Trade Organization (WTO).
With a proud heart and jubilation, we salute our quintessential woman of many feats on this global call to service.
This is a perfect example of a narrative that says “when opportunity meets preparedness success is inevitable”. Madam Director, you are an epitome of this simple quote. Over the years, you’ve carefully built a track record of competence with your records very visible in the public domain.
We are very pleased to send our warmest congratulations on your appointment as the seventh (7th) Director General of the foremost World Trade Organization, also making history as the first African and female to hold this prestigious position.
At this time where the world is battling with the Covid-19 pandemic, with a gradual return to normalcy, there are still some undulating terrains in the global trade landscape. We believe with you at the helm of affairs coupled with 25 years of diplomatic dealings and demonstrated leadership as a World Bank executive, you will saddle the affairs of the WTO and the entire global trade economy through these sensitive times.
We wish you much success in your new post and we look forward to the pleasure of working with you, in the place of making our African continent prominent in the scheme of world trades, and much more rejuvenation of hope that an African has all it takes to get to the zenith of his or her career without any equivocation.
We wish you a resounding success with legendary actions for global impact.
Signed: Dr Remi Duyile, Former VP, Bank of America and Founder, Legacy Premier Foundation
Kasha Global Inc. secures $1 Million DFC equity investment to grow and scale across East Africa
Kasha Global Inc. beneficiaries (Source: DFC)
U.S. International Development Finance Corporation (DFC) today announced the disbursement of a $1 million equity investment in Kasha Global Inc., an e-commerce company that provides women’s health and personal care products to customers in Rwanda and Kenya, alongside investments from Finnfund and Swedfund. This investment was made through DFC’s Portfolio for Impact and Innovation (PI2) initiative, which aims to finance early-stage, high-impact solutions to challenges facing developing countries.
“High quality and equitable health services and products are fundamental to the wellbeing, and ultimately the economic potential, of women and girls in the developing world,” said Vice President for DFC’s Office of External Affairs Algene Sajery. “DFC is proud to support Kasha’s innovative business model, which is helping transform the personal care and health system supply chain in East Africa, and provide financing that strengthens economic growth in the region.”
“Kasha is excited to bring DFC on as an investor and as a long term partner,” said Kasha Global Founder & CEO Joanna Bichsel. “With the U.S. Government’s significant ongoing investments in the areas of Global Health and with DFC’s focus on supporting businesses proven to drive both commercial returns as well as social impact, we see strong win-win opportunities as Kasha continues to grow and scale across East Africa and beyond. We have been impressed with the level of support DFC is extending into emerging market businesses and into women-led and women-focused businesses.”
Many women in emerging markets lack access to safe, high-quality, and affordable health and personal care products as well as information surrounding these products. As products are often out of stock or counterfeit, the purchasing experience can be frustrating and disempowering for many women. Further, the stigma surrounding women’s health and personal care products in some cultures can have serious consequences. A UNESCO report estimates that one out of 10 girls in sub-Saharan Africa misses school during her menstrual period, amounting to as much as 20 percent of the school year.
Since 2016, Kasha has helped address women’s lack of access to health and personal care products by delivering a unique, discreet and user-friendly purchasing experience to the customers it serves. Through its e-commerce platform, Kasha has reconfigured the supply chain, delivery channel, and customer experience in order to meet demand. Kasha’s business-to-customer line of business directly sells products to customers in rural and urban locations across East Africa, especially low income communities. Kasha empowers over 400 local women to enter hard to reach communities to provide information and assist customers in purchasing products. The company’s business model is optimized to reach low income communities. Kasha has delivered over 1 million product units to over 130,000 unique customers, of which 63% are low income customers in Rwanda and Kenya.
Despite Kasha’s rapid growth and loyal customer base, fundraising is extremely challenging for start-ups in emerging markets, particularly during the COVID-19 pandemic. By investing $1 million in equity through the PI2 program, DFC aims to help Kasha fill the financing gap, providing the e-commerce company with the capital required to scale its business.
DFC’s investment advances its 2X Women’s Initiative, which has committed more than $4 billion of investment in projects that empower women in developing countries. The Kasha investment also qualifies for the 2X Challenge, an initiative of the G7 countries to support women’s economic empowerment. Kasha was co-founded by two women, 50 percent of Kasha’s senior leadership team are women, 75 percent of board members are women, 64 percent of Kasha’s employees are women, and the company’s products center around care for women and girls. Based on Kasha’s commitment to the 2X Challenge criteria, Kasha, DFC, Finnfund and Swedfund have signed a side letter which highlights Kasha’s 2X accomplishments and sets an example for other companies that seek to improve their businesses using the 2X Challenge criteria.
By focusing on innovative care delivery models and supply chain innovations, DFC’s financing also advances the agency’s Health and Prosperity Initiative, helping respond to COVID-19 and other health-related issues in Rwanda and Kenya.
Swedfund is Sweden’s development finance institution. Finnfund is the Finnish development finance institution.