Petty Trading, or better known in Ghana as provisions stores, have been a major contributor to the growth of countries in Sub-Saharan Africa. These shops in communities usually provide a quick fix for all the items you sometimes forgot to buy or simply know they will always have. In the midst of all this fintech revolution, some folks have taken it a challenge to provide fintech solutions that cater to these all-important Micro SMEs.
Kudigo is a retail POS specifically made for micro SMEs in Africa; the ultimate goal is to empower them with the needed tools to manage and grow their business and attract the needed capital to streamline their operations. For any of such shops, this will be a major turn from how they currently handle their operations. Kudigo is a financial solutions startup, currently in beta and will be rolling out in August at Mobex.
Although the team is completely Ghanaian and the company as such, the product comes already integrated with SAGE tools that will help take control of any shop’s accounting which make it easier to generate reports, make projections, etc. The exclusive integration with SAGEONE ACCOUNTING and SageIntelligence provide a world-class experience to these petty traders as they preserve their financial data. The app doesn’t leave out several APIs which will help to process finances, with both local and international payment providers.
Talking to Kingsley Abrokwah, CEO of Kudigo, he highlighted these points,
“Our USP is first and foremost low setup cost compared to current solutions on the market, Kudigo is 40% cheaper than the cheapest solution currently on the market.
Secondly we are the only solution which integrates with a legally compliant financial system across Sub-Saharan Africa.
Last but not the least, our robust offline/online synchronization ensures that businesses in the remotest part of the continent can use our solution as our online synchronization only requires an Edge connection to update to the cloud.
In short, even if your shop makes GHS 100 a month, you can still afford kudigo; that is the level of simplicity and scalability we are looking to bring in order for us to achieve our goal of financial inclusion for retailers in the Micro SME space.“
The Micro SMEs market has been known for its immense contribution to the daily lives of Ghanaians. Many have emotional connections to such stores that helped provide for their education and cater to other needs of the family. Kingsley shares his own story on LinkedIn.
The company is currently in seed funding round, and will launch in August 2017.
How have provision stores contributed to your life, and will this solution provide the much needed financial inclusion for them? Share your comments below.