Tendo Technologies Acquires Shopa to Boost Africa's Supply Chain Growth
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L-R: Felix Manford, CEO Tendo and Frank Addae, Co-Founder & COO Shopa
Ghana-based retail-tech startup Tendo Technologies has acquired Shopa, a fellow retail-tech firm, in a strategic move to transform Africa's supply chain infrastructure. Founded in 2021 by Felix Manford, Evans Boateng, Derrick Mungai, and Primerose Katena, Tendo enables thousands of individuals to establish online businesses without upfront capital by connecting them with suppliers.
With a strong presence in Ghana and Nigeria, where it expanded in 2022, Tendo currently supports over 10,000 resellers who cater to more than 42,000 customers across fashion, beauty, electronics, and FMCG.
Shopa, also established in 2021 by Michael Hammond, Frank Addae, and Ulrich Checkap, developed a tech-driven platform to streamline FMCG distribution between suppliers and retailers. Shopa’s network of 3,000 retailers in Ghana and advanced distribution systems make it a valuable addition to Tendo's operations.
Both companies previously received funding from the Catalyst Fund Inclusive Digital Commerce Accelerator. The acquisition, involving both cash and stock, merges the two companies and rebrands Shopa as Tendo Retail, a new division under Tendo's umbrella. Led by Shopa co-founder Frank Addae, Tendo Retail will focus on providing Africa’s informal distributors with tools to scale.
By integrating Shopa’s offline distribution network, Tendo plans to expand product offerings, driving growth for both online entrepreneurs and FMCG distributors. With FMCG products now making up over 30% of Tendo's volume, the acquisition opens new avenues to connect offline distributors to Tendo’s vast network of resellers, creating seamless access to online markets for African distributors.
Source: Tapiwa Matthew Mutisi / Innovation Village
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