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Ghanaian retail-tech startup Tendo Technologies has announced its strategic acquisition of counterpart Shopa in deal aimed at revolutionising supply chain infrastructure across Africa.
Founded in 2021 by Felix Manford, Evans Boateng, Derrick Mungai, and Primerose Katena, Tendo enables tens of thousands of individuals to launch and grow their online businesses without initial capital by connecting them with suppliers.
It boasts a robust network of over 10,000 retail resellers in Ghana and Nigeria, where it launched in 2022, reaching more than 42,000 customers with a diverse range of products including fashion, beauty, electronics, and fast-moving consumer goods (FMCG).
Shopa, meanwhile, was founded in 2021 by Michael Hammond, Frank Addae and Ulrich Checkap, and optimises the distribution of FMCG through its technology platform that connects retailers directly with suppliers and manufacturers. It has a network of over 3,000 retailers in Ghana, and advanced operational systems.
Both companies received funding and support from the Catalyst Fund Inclusive Digital Commerce Accelerator back in 2021, but they have now merged after Tendo acquired Shopa in a deal structured as a combination of cash and stock.
As part of the acquisition, Shopa will rebrand to Tendo Retail, a newly formed division of Tendo headed by Shopa CEO and co-founder Frank Addae focused on providing informal distributors in Africa with advanced technology to scale their businesses.
Shopa’s large network of offline distributors will be leveraged by Tendo to connect with its online retailers, helping to expand its product offerings and widening opportunities for entrepreneurs.
With FMCG already contributing over 30 per cent to Tendo’s current volume and continuously growing, Tendo will enhance its offering and ensure a consistent supply for its resellers. This partnership will also empower FMCG distributors in Africa who have been largely offline to seamlessly unlock new online channels through Tendo’s network of over ten thousand online resellers.
“We are excited to have Shopa, an integral provider of technology infrastructure for the informal supply chain in Africa, as part of Tendo Technologies,” Manford said. “Our vision at Tendo is to help entrepreneurs and small businesses start and scale their businesses by making supply chains seamlessly accessible. Our partnership with Shopa will enable this, leveraging their advanced distribution technology and wide network of suppliers to deliver unprecedented value to our offline and online retailers. Together, we will revolutionise the retail space in Africa and empower entrepreneurs across the continent.”
Addae said he was excited to join the Tendo team.
“This partnership will enable us to access Tendo’s resources and capabilities, strengthening our value proposition to suppliers and manufacturers in Africa. Our expanded offerings will include greater opportunities for suppliers to unlock new retail channels and access diverse online and offline markets to scale their businesses.Together, with our shared vision and values, Tendo and Shopa will take the informal retail space in Africa to new heights,” he said.