Following its $2 million raises a few weeks ago, MarketForce, the Kenyan retail distribution startup, has commenced operations in Nigeria.
Founded by Tesh MbaTesh Mbaabu and Mesongo Sibuti founded MarketForce in 2018. The startup connects Africa’s informal retail outlets and consumers directly to suppliers of consumer goods and financial services by digitizing orders, delivery, and payments with the aim of solving the last mile distribution challenge.
Commenting on the expansion, Tesh Mbaabu, co-founder and CEO of MarketForce said: “Africa is reported to have over 100 million merchants. A whopping 40 million of them are in Nigeria, with the highest annual FMCG purchasing in the whole continent, signifying how significant the market opportunity for MarketForce is.
“Nigeria FMCG retail distribution operates very much like Kenya, it is very fragmented and competitive, which gives us the opportunity to make a real impact for both retailers and manufacturers.”
In preparation for its expansion into Nigeria, MarketForce announced the appointment of Ore Omolaja as its Nigeria Country Manager and Head of Business, effective 15th July 2021.
According to a MarketForce statement, Ore will lead the expansion of MarketForce into Nigeria, including brand and team building, developing new business and partnerships and creating a solid foundation to scale our solutions in the West African region.
On his work history, MarketForce said: “Ore is a seasoned business development professional and sales leader with over a decade of experience gained in the technology industry focused on areas of B2B sales, logistics operations, identity management, smartcard and payments. He had the opportunity to build and work with result-driven teams focused on growing revenue and delighting customers across various capacities at Chams Plc, Electronic Payplus, and Fieldinsight in Nigeria.”
Additionally, MarketForce also recently appointed Arthur Bourekas as its new chief commercial officer (CCO).
Bourekas has over 25 years of experience in the commercial, logistics and distribution sectors. He has worked in AG Leventis Nigeria Limited and PZ Cussons in Nigeria, Indonesia, Malaysia and Australia. He is a veteran FMCG distribution expert in Africa and has also worked with Alerzo, a Nigerian B2B platform focused on Nigeria’s informal retail sector.
On MarketForce expansion, Bourekas said: “FMCG distribution in Africa is yet to be done effectively. Even multinationals with years of experience often can optimise their distribution and add real sales growth to their business. Innovation and focus is key. I am confident that with the platform MarketForce has built so far, along with the expertise being built within the organisation, we are destined to revolutionise the sector and become a formidable force.”