Verod-Kepple Africa Ventures backs Moroccan B2B e-commerce company

Verod-Kepple Africa Ventures (VKAV) has made a $1.5 million investment in Chari, a Morocco-based B2B e-commerce company.

In Morocco, much like other African countries, most fast-moving consumer goods (FMCG) trade is conducted through informal retail shops, which currently account for over 80% of the total FMCG trade. However, these vital establishments face operational inefficiencies due to multiple layers of intermediaries involved, a lack of digitisation, and limited access to trade finance. Chari has made a significant impact in this field, altering the dynamics of informal retail shops by providing necessary goods and services in a more economical and efficient way.

Ryosuke (Rio) Yamawaki, partner at VKAV, said, ”Chari is uniquely positioned to transform the informal retail sector and redefine the category of informal trade in Africa. We firmly believe that their innovative approach will benefit the local market and serve as a showcase to the rest of the world.”