Tendo Technologies, a retail technology startup based in Ghana, has announced that it has strategically acquired Shopa, with the goal of transforming supply chain infrastructure throughout Africa.
Tendo, which was founded in 2021 by Felix Manford, Evans Boateng, Derrick Mungai, and Primerose Katena, connects tens of thousands of people with suppliers to help them start and expand their online businesses without needing any initial funding.
In Ghana and Nigeria, where it first opened in 2022, it has a strong network of more than 10,000 retail resellers and serves over 42,000 customers with a wide variety of products, such as electronics, fashion, beauty, and fast-moving consumer goods (FMCG).
In contrast, Shopa, which was established in 2021 by Ulrich Checkap, Frank Addae, and Michael Hammond, maximizes the distribution of fast-moving consumer goods (FMCG) by connecting retailers with manufacturers and suppliers directly through its technological platform. It boasts sophisticated operational systems and a network of more than 3,000 retailers in Ghana.
The Catalyst Fund Inclusive Digital Commerce Accelerator provided funding and support to both businesses in 2021. However, Tendo’s acquisition of Shopa, which was structured as a combination of cash and stock, led to their merger.
As part of the acquisition, Shopa will change its name to Tendo Retail, a recently established Tendo subsidiary led by Frank Addae, the CEO and co-founder of Shopa, with the goal of giving African informal distributors cutting-edge technology so they can grow their companies.
Tendo will connect with its online retailers by utilizing Shopa’s extensive offline distributor network, which will help it increase its product offerings and open up more business opportunities for entrepreneurs.
Tendo will improve its offering and guarantee a steady supply for its resellers because FMCG already accounts for more than 30% of its current volume and is still expanding. Through Tendo’s network of more than 10,000 online resellers, this partnership will also enable FMCG distributors in Africa, who have previously operated primarily offline, to easily open up new online channels.
“We are excited to have Shopa, an integral provider of technology infrastructure for the informal supply chain in Africa, as part of Tendo Technologies,” Manford said. “Our vision at Tendo is to help entrepreneurs and small businesses start and scale their businesses by making supply chains seamlessly accessible. Our partnership with Shopa will enable this, leveraging their advanced distribution technology and wide network of suppliers to deliver unprecedented value to our offline and online retailers. Together, we will revolutionise the retail space in Africa and empower entrepreneurs across the continent.”
Addae said he was excited to join the Tendo team.
“This partnership will enable us to access Tendo’s resources and capabilities, strengthening our value proposition to suppliers and manufacturers in Africa. Our expanded offerings will include greater opportunities for suppliers to unlock new retail channels and access diverse online and offline markets to scale their businesses.Together, with our shared vision and values, Tendo and Shopa will take the informal retail space in Africa to new heights,” he said.
