Afrikamart
Marketplace | SenegalAfrikaMart is a West Africa-based distribution platform for fresh produce
What they do:
Afrikamart solves Africa’s fresh produce supply chain inefficiencies at scale through technology by offering its marketing services to farmers and operating as a digital purchasing center for retailers, hotels, restaurants and supermarkets.
80% of of fruits and vegetables consumed in Africa comes from smallholder farmers and 90% of urban households purchase fruits and vegetables from small retailers. However, the food supply chain is terrible as there is inconsistent supply, poor logistics, over fragmentation, multiple middlemen, food waste, fluctuating markets.
Afrikamart runs a web/mobile-based B2B food supply platform that supplies fresh fruits and vegetables sourced from farmers in rural Senegal to small- and medium-sized vendors, outlets and kiosks in the country’s capital, Dakar. The platform allows Afrikamart to offer higher prices and a guaranteed market to farmers, and lower prices and a reliable supply to vendor
Why we invested:
Solving major problems: inefficient & informal markets, food waste, payment problems, etc.
Huge market: € 1billion addressable market in Senegal alone, with >1bn kg of fruits and veggies consumed every year
Proven business model: (Meicai, Ninjacart) but first mover in French-speaking West Africa
Tech platform: data & produce collection, digital transaction & settlement, real-time stock tracking, deliveries.
The Founder:
Mignane Diouf has a strong background in technology and agriculture. After graduating with a bachelors degree in Software engineering from Crowdstage and a M.Eng. in Software engineering from the European Institute of Technology, he joined Netapsys Conseil a software engineering, ecommerce and business intelligence company for a six year stint. He then moved on to Teranga business solutions where he worked as an Executive Manager where he was responsible for the IT strategy, project management and system architecture functions.
Active in:
Senegal