IFC could invest in Nigerian FMCG platform
The IFC is considering an equity investment of up to $15 million in fast-moving consumer goods (FMCG) distribution platform TradeDepot, to support the company’s growth within Nigeria and across the African continent.
TradeDepot aggregates informal retailers on a digital platform and connects them directly to FMCG distributors and manufacturers, thus enhancing visibility and efficiency across the FMCG value chain. In addition, TradeDepot has launched an embedded finance product, through which informal retailers can access working capital for their purchases on the TradeDepot platform.
TradeDepot was founded by Onyekachi Izukanne, Ruke Awaritefe and Michael Ukpong. Significant institutional investors in the company include Partech Africa Fund and MSA Capital.
The company is registered in Delaware and headquartered in Lagos, Nigeria.
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