Verod-Kepple Africa Ventures Invests $1.5M In Chari

Verod-Kepple Africa Ventures (“VKAV”) has announced its investment of $1.5 million in Chari, a Morocco-based B2B e-commerce company. The investment is purposed to support its growth plan.

 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 digitization, and limited access to trade finance.

Chari has emerged as a game-changer in this space, revolutionizing the operations of informal retail shops by offering essential goods and services more affordably and efficiently.

 Speaking on the partnership, Co-founder and CEO of Chari, Ismael Belkhayat, expressed his excitement saying that the partnership is crucial as they are establishing a cutting-edge and fundamental financial services infrastructure for the mass market in Morocco.

“With VKAV’s extensive network across Africa and profound connections with the Japanese corporate society, we believe they will consistently bring value to our endeavours,” Ismael said.

Ryosuke (Rio) Yamawaki, Partner at VKAV, emphasized the firm’s focus on investing in category-defining African start-ups.

“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,” Yamawaki said.

As VKAV joins forces with Chari, the investment will provide the necessary impetus to drive the company’s growth plans and further develop its groundbreaking financial services infrastructure for the masses. The partnership will enable Chari to continue delivering innovative solutions, propelling Morocco’s economy forward and showcasing the potential of Africa’s informal retail sector on a global scale.

Simultaneously, Ryosuke (Rio) Yamawaki, Partner at VKAV, has been appointed as a Strategic Advisor to the company, reinforcing their commitment to transforming the informal retail sector and driving economic growth in the region.