Nigerian Startup Feegor Revolutionizes SME Product-Sourcing Across Africa

Nigerian Startup Feegor Revolutionizes SME Product-Sourcing Across Africa

By Staff Writer, 08 February 2024

Feegor, a pioneering B2B wholesale marketplace, has emerged as a game-changer in the realm of product-sourcing for small and medium enterprises (SMEs) throughout Africa, with an initial focus on Nigeria.

Established just last year, Feegor serves as a pivotal platform facilitating retail businesses in discovering, negotiating, and directly sourcing goods from an extensive network of manufacturers, wholesalers, and major suppliers spanning the nation.

Lucy Mbuthia, co-founder and Chief Operating Officer of Feegor, emphasized the platform's mission during an interview with Disrupt Africa, stating, "Our primary emphasis lies on bridging the gap for small to medium-scale manufacturers and major suppliers across local market regions."

Mbuthia explained that Feegor does not engage in the direct purchase, warehousing, or selling of products.

Instead, it addresses the challenge of product discovery by providing online visibility to suppliers and manufacturers, enabling SMEs to promptly locate, negotiate, and source goods directly via the Feegor app.

Nigeria boasts a staggering retail market worth approximately US$105 billion; however, Mbuthia noted that it remains highly fragmented and underserved.

She elaborated, "Within this expansive landscape, there exist unmet demands and significant hurdles for over 17 million SMEs seeking to source and replenish goods regularly. Unfortunately, there's currently no straightforward, efficient, on-demand solution available to them."

Mbuthia highlighted the distinct challenges faced by Nigerian SMEs in sourcing goods efficiently, citing the absence of a centralized platform akin to Alibaba.

While businesses in other regions often turn to Alibaba for connecting with manufacturers or suppliers, Nigerian SMEs grapple with a fragmented marketplace.

Feegor aims to fill this void, witnessing substantial uptake since commencing commercial operations last September.

Presently, over 2,500 businesses actively utilize the Feegor platform, offering approximately 6,000 product SKUs on its wholesale marketplace, facilitated by a blend of small-medium manufacturers and large suppliers.

Notably, the platform has facilitated over 3,000 B2B transactions, underscoring its rapid growth and impact within the Nigerian business landscape.

Source: Tom Jackson / Disrupt Africa

Related Report

Future of Fintech in Africa

The Future of Fintech in Africa

18% of the world’s population lives in Africa, and 57% of Africans are ‘unbanked’, living without a bank account or a digital wallet to their Name. The opportunity is massive, which is why fintech is the most dominant and most funded tech sector in Africa, today.

Subscribe To Our Newsletter

Stay up to date with the latest news, special reports, videos, infobytes, and features on the region's most notable entrepreneurial ecosystems