Wasoko Expands to the Democratic Republic of Congo
Wasoko, a B2B e-commerce company, has expanded its operations into the Democratic Republic of Congo (DRC) from its existing e-commerce hub in Rwanda. This marks its second country expansion in 2023, following its launch in Zambia in May. Wasoko's goal is to support local businesses across Africa, and this expansion aims to serve small businesses in Goma, the capital of DRC's North Kivu province, by leveraging cross-border trade zones with the support of the Rwandan government. This initiative aims to integrate the DRC into the East African Community and foster economic growth and job opportunities.
Since expanding into Rwanda in 2019, Wasoko's revenues have grown significantly, reaching $48 million in 2022, and it serves over 5,000 informal retailers in Rwanda alone. With its performance in Rwanda, Wasoko is optimistic about driving growth for small businesses in the DRC. The company plans to replicate this model in other African regions as part of its long-term vision to strengthen its Pan-African presence.
Daniel Yu, Founder and Global CEO at Wasoko, believes the DRC presents a substantial market opportunity despite infrastructural challenges, and he aims to unlock this potential and become the market leader in the DRC's B2B e-commerce space.
Wasoko has pioneered innovative technology to address supply chain inefficiencies faced by local shop owners in Africa's informal retail sector. It has an extensive network of over 220,000 informal retailers across Kenya, Tanzania, Rwanda, Uganda, and Zambia, and it has raised significant funding for its expansion.
The company's mobile app allows shop owners to order products at competitive prices, receive free same-day delivery, and access real-time sales data and market insights. Through its end-to-end logistics process, Wasoko aims to provide efficient fulfillment and support merchant engagement.
Wasoko's expansion into the DRC is a significant step toward its goal of empowering local businesses and connecting African consumers with a wide range of products and services. The company has been recognized for its rapid growth and innovative approach to addressing supply chain challenges in Africa's informal retail sector. 🌍🛒🚀
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