Kiwi Pay Group to roll out online marketplace in Africa, starting in Cameroon
Singapore-based fintech firm Kiwi Pay Group is set to launch what it claims will be the "biggest online marketplace in sub-Saharan Africa", with millions of product SKUs across various categories.
The pending launch of the group's newest mobile application will kick off in Cameroon first, in partnership with French group Bolloré Logistics, one of the biggest transport and logistics companies in Africa, with more than 5,000 employees on the continent.
Products from European retailers
The new marketplace promises to offer customers in Cameroon millions of products from European retailers, with affordable prices, local payment methods including credit cards and mobile money, and four to five days shipping by air to various delivery collection points in the Central African country.
Shoppers will be able to purchase products across categories including books, computers, cosmetics, games, appliances, and more.
Kiwi Pay Group, Bolloré Logistics and the Customs Bureau of Cameroon signed a strategic agreement on 4 November 2021 in Douala to officialise their agreement. Before then, Kiwi Pay Group has been signing agreements with different economic zones on the African continent like CEMAC, GIM-UEMOA and others, allowing them to offer transactions in the local currency, FCFA.
“This strategic partnership with Bolloré Logistics and the Customs in Cameroon is allowing us to benefit from the strong growth of the e-commerce in the country, while leveraging from decades of experience from our partners to ensure a trustworthy experience for the customers and compliance with the local tax system,” said Fongod Nuvaga Edwin, director general of Customs in Cameroon.
Serge Agnero, regional manager for Bolloré Transport & Logistics stated, “We are thrilled to initiate this strategic partnership in Cameroon and the region with an experienced player such as Kiwi Pay Group, to allow millions of local customers to benefit from attractive prices from retailers in Europe, and be able to order quickly and securely the products they are looking for, delivered at their place within a few days with our smooth service.”
Earlier this year, Kiwi Pay Group also launched its token KGO, which will be used as a way to reward all users of the app - including vendors, drivers and customers - allowing them to store the tokens for use at a later stage. Kiwi Pay Group plans to push the token rewarding process as soon as it launches the e-commerce platform in Cameroon and other markets in the upcoming few months.
No confirmed dates were given for the official launch.