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TradeDepot Secures Additional $10M to Transform Informal Retail Supply Chain in Nigeria

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TradeDepot, the B2B eCommerce platform for consumer goods in Africa, has raised a further $10 million in a pre-Series B equity round co-led by Partech, International Finance Corporation, Women Entrepreneurs Finance Initiative (We-Fi) and MSA Capital. This is in addition to the $3 million Series A led by Partech in 2018.

TradeDepot will use the new investment to continue its integration of the fragmented informal retail supply chain in Nigeria, expand into other African cities and launch a suite of financial products and credit facilities, to support its retailers

Since its launch in 2016, TradeDepot has built a network of more than 40,000 micro retailers in Nigeria. Working with global distributors and manufacturers including Nestlé, Unilever, GB Foods and Danone, TradeDepot makes household supplies, such as milk, soap, detergent and other essentials more accessible and affordable for the informal urban retail networks it operates in.

Retailers order and pay for goods using TradeDepot’s mobile apps (Android and Whatsapp), USSD or a toll-free number and have them delivered directly to their stores via the company’s fleet of vans and tricycles.

They can also order stock and manage their inventory online, with a number of ways to pay, including digital payments and cash. For consumer goods brands, TradeDepot enables direct-to-retail distribution in the massive informal sector in some of Africa’s busiest cities.

TradeDepot also provides a CRM and data management system that enables suppliers to plan and monitor their sales routes in real time, as well as gain invaluable insights into trade and retail data.

Working with TradeDepot, retailers across Nigeria have increased their revenue and improved their business outcomes as a result of better access to products for their stores. One retailer grew the amount of sales transacted by more than 15x.

Another retailer who was barely breaking even and had seen no real growth in 15 years was able to increase her net monthly margin by almost 100 percent monthly, hire three new employees and is now considering expansion.

Using data and analytics to inform better retail decision making at each stage of the supply chain, TradeDepot has recorded considerable growth since its launch, activating a new store every three minutes, and receiving a retailer order every 4 seconds, on average. The company has also tripled its volume of trade in the last 12 months.

Onyekachi Izukanne, Chief Executive Officer and co-founder of TradeDepot says, “We are excited to strengthen our team and welcome on board some incredible strategic investors and partners, as we double down on our mission to digitize and simplify retail distribution for the continent. Africa’s offline retail market is estimated at $1 trillion, and this new investment allows us to capture an even greater segment of that market.

“We will continue to use data to drive efficiencies and provide an easier stock acquisition service for our 40,000+ retailers, driving down costs for them by negotiating even better deals with our global manufacturing partners, whilst simultaneously providing a better, faster route to market for our suppliers.”

In a bid to help retailers grow their businesses, TradeDepot is set to launch a suite of financial products and credit facilities. Many retailers do not have the collateral that banks demand but by leveraging their trading relationship with TradeDepot, retailers can access the funds they need to buy more goods, scale their businesses and generate more revenue.

Wale Ayeni, Head of Africa Venture Capital Investment at IFC adds, “TradeDepot is a rising star in the African internet landscape, helping digitize a substantial underserved informal retail segment, which is the pillar of economic growth in Africa. The founders’ vision to build a digital platform that improves the unit economics of serving the mass-market is one that we feel privileged to support.”

More than 75 percent of the retailers on TradeDepot’s platform are female entrepreneurs and TradeDepot will offer mentorship and opportunities to link with domestic and global markets, to further support its predominantly female customer base to grow and expand their own businesses.

Hanh Nam Nguyen, Program Manager, speaking on behalf of IFC as implementing partner of We-Fi, said, “Women play a pivotal role in driving economies across Africa, but lack of access to capital, limited market linkages, cultural norms and other challenges often prevent them from achieving the success they want.

“We-Fi financing will incentivize TradeDepot to build stronger women-led small and medium enterprises (SME) retailer and distributor networks, which will support them to become drivers of economic growth in their communities.”

Tidjane Dème, General Partner at Partech said, “we are proud to continue our partnership with TradeDepot as they continue their work to transform the huge informal markets that are present in Africa.

The founders have a wealth of experience that puts them in a great position to execute on their vision, and their approach and results to-date are why we are so excited by the extraordinary entrepreneurs harnessing the power of technology to address issues across the continent.”

Ben Harburg, Managing Partner at MSA Capital said, “TradeDepot is leading the digitization of informal enterprise across West Africa at the most critical touch point – the distribution and sale of essential foodstuffs by SME retailers – driving efficiency improvements, increased service offerings, and costs savings to both consumers and merchants.”


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E-Business

GSMA Launches Innovation Fund to Boost AI Solutions in Emerging Markets

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GSMA Innovation Fund for Impactful AI has been unveiled, marking a significant initiative aimed at empowering small and growing enterprises in low-and middle-income countries (LMICs) across Africa, South Asia, Southeast Asia, and the Pacific.

GSMA Launches Innovation Fund to Boost AI Solutions in Emerging Markets

This fund is designed to fos­ter AI-driven innovations that tackle critical socio-economic and climate challenges, helping underserved regions unlock the transformative potential of ar­tificial intelligence.

Artificial intelligence has proven its ability to address pressing global issues, from pre­cision agriculture and renew­able energy to remote health­care and financial inclusion.

Yet, LMICs remain under­served in funding and resourc­es, with only a small percentage of global grants directed toward locally-developed AI solutions.

Despite the growth of AI-driven technologies, these advancements are often not tailored to the unique needs of local populations in LMICs.

The GSMA Innovation Fund seeks to close this gap by iden­tifying, testing, and scaling impactful AI solutions that are contextually relevant and capa­ble of delivering measurable socio-economic and climate benefits.

In partnership with the UK Foreign, Commonwealth, and Development Office (FCDO), the GSMA Innovation Fund provides a comprehensive sup­port package to selected enter­prises. Key benefits include:

Grant Funding: Ranging from £100,000 to £250,000 for projects lasting 15–18 months.

Tailored Venture Support: Guidance to strengthen busi­ness models and improve scal­ability.

Partnership Opportunities: Facilitation of collaborations with mobile operators, public sector organizations, and other stakeholders.

Peer Learning: Platforms for exchanging knowledge and best practices with other innovators.

Visibility and Exposure: Access to GSMA’s global events, publications, and online plat­forms to connect with potential investors and partners.

 


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MRA Calls for Safer Internet User Rights in Nigeria

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Media Rights Agenda (MRA) has called on the Nigerian government to take legitimate measures to safeguard the rights and safety of internet users in the country.

MRA Calls for Safer Internet User Rights in Nigeria

In a statement released ahead of Safer Internet Day (SID), the Media Rights Agenda (MRA) called on the Nigerian Federal and State governments to take measures to protect internet users’ rights.

MRA highlighted the misuse of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2015, initially designed to address cybercrime threats.

According to MRA, the Act has been exploited by powerful individuals to intimidate journalists, activists, and citizens, undermining freedom of expression and cybersecurity.

Mr. Ayode Longe, deputy executive director, MRA, emphasised that these actions violate democratic principles and Nigeria’s international human rights obligations. He highlighted the SID theme “Together for a Better Internet” as a call for multi-stakeholder cooperation to create a safe and accessible online environment.

Longe noted Nigeria’s progress in digital technology adoption but pointed out persistent online threats, including scams, data breaches, and misinformation.

He stressed the need for legal frameworks that protect users’ rights without compromising their privacy or freedom of expression.

MRA urged the government to review the Cybercrimes Act to ensure it aligns with international human rights standards and to establish guidelines to prevent arbitrary prosecutions.

MRA also called for digital literacy initiatives and collaboration with tech companies to promote online safety.

Additionally, they urged the courts to protect Nigerians’ rights by rejecting unfounded cybercrime cases and ensuring fair application of the law.

Longe reiterated MRA’s commitment to defending digital rights and advocating for a free and open digital environment where everyone can access information and express themselves responsibly.

Together, stakeholders can create an internet where all users, regardless of age or background, can engage safely and freely.


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Google Messages to Enable WhatsApp Video Calls

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Google Messages is reportedly working on a new feature that would allow WhatsApp video calls; the feature was found in the app’s code and is not yet functional, but it reportedly activates when the caller’s device is not running Google Meet.

Google Messages to Enable WhatsApp Video Calls

Users of the tech giant’s first-party app in Mountain View are reportedly able to make video calls more easily because of this functionality.

According to a separate report, the app recently combined the gallery picker with the camera viewfinder when the camera option was opened.

A report from the Android Authority suggests that Google Messages may soon incorporate WhatsApp’s video calling functionality. The functionality was discovered by the publication in Google Messages version 20250131.

The code had a flag for the feature, which was turned on. As a result, consumers cannot try it out at this time.

According to screenshots the website posted, when users select the video call icon in Google Messages, a prompt advising them to use WhatsApp to make video calls appears.

But following the reports, the feature only appears if the caller does not have Google Meet installed.

Interestingly, at the moment, users can only use Meet to make video calls; if they don’t have it loaded, the app asks them to do so before attempting again.

With this new functionality, WhatsApp does not direct users to the chat app when they make a video call.

Rather, it is said to activate the full-screen video conference interface immediately.

If Google Messenger is the user’s main messaging program, this functionality could save them multiple clicks.

Though based on the article, the capability is limited to individual talks.

The app can only use Meet to start video calls in group discussions.

Furthermore, it has been noted that Google Messages does not trigger the WhatsApp video call pop-up if the recipient does not have WhatsApp installed.

 

 

 


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