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.
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.