Nomanini launches digital retail solution to support Africa’s informal retailers

Nomanini launches digital retail solution to support Africa's informal retailers

Fast-growing African fintech platform Nomanini, has announced the launch of StockNow, a new supply chain finance solution that connects FMCGs and financial service providers to serve Africa’s informal retailers at scale.

StockNow is an easy-to-use app that enables informal micro and small retailers to purchase stock digitally. They can purchase goods using stock advances to keep their shelves stocked with essential goods, ensuring business continuity and support for last-mile consumers, explained a statement.

About 10 million informal retailers in Africa are reached by global FMCG value chains but lack access to responsible and affordable finance solutions to keep their shelves stocked to attract customers and grow their businesses.

FMCGs scaling into emerging markets encounter challenges as without affordable working capital, many informal retailers go through periods when they cannot pay suppliers to restock their inventory due to a lack of cash flow at the time of delivery. As a result stock is unexpectedly returned to the depot, leading to high operational costs.

Nomanini’s StockNow solution helps FMCGs overcome these challenges by providing an end-to-end solution to provide responsible working capital so that informal retailers can stock their shelves in a  predictable manner.

By digitising the supply chain, StockNow enables FMCGs to increase operational efficiency by unlocking trade data and gaining visibility into the sales and preferences of informal retailers. Automating settlements and incentivising e-payments within the value chain also leads to improved efficiencies.

For Nomanini, the launch of StockNow marks a big shift from enterprise B2B technology solutions to a move into embedded stock advances in the FMCG value chain.

StockNow is now live and being rolled out to thousands of informal retailers in Tanzania, with plans underway to scale the solution across the continent from Mozambique to Uganda, The Democratic Republic of Congo to Egypt. The app is available on android devices and feature phones.