Zambia: Renew Capital invests in online marketplace for building materials
Zambia: Renew Capital invests in online marketplace for building materials
Renew Capital has announced an investment in Zambia-based Bosso Africa.
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Renew Capital has announced an investment in Zambia-based Bosso Africa.
The lack of affordable housing for millions of people in Africa is a pressing issue, but Bosso Africa is seeking to change that. The Zambia-based company provides an online marketplace that streamlines the sourcing of building materials for hardware stores, construction companies and individual builders. By partnering with financial institutions, Bosso is working to further access to finance, providing customers with opportunities for various financing options, including stock advances using the ‘buy now, pay later’ (BNPL) credit approach, mortgages and the ‘save now, build later’ (SNBL) approach.
“The challenges and potential within Africa's construction industry are immense and this presents a significant opportunity,” said Bosso’s CEO, Chisepo Chirwa. “Bosso’s mission is to make affordable building materials universally accessible through our e-commerce platform, providing a faster, more cost-effective and efficient solution.”
“Most African governments are currently pushing for affordable housing for their citizens. Affordable housing however starts with the provision of affordable housing materials,” says Renew Capital’s investment and project manager for Zambia, Calvin Chitangala. “Bosso's innovative platform improves the sourcing of building materials in Africa and we are delighted to support them in their journey.”
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