Rabat - Verod-Kepple Africa Ventures (VKAV), a Nigeria-based investment firm, announced today its plans to invest $1.5 million in Chari, a Moroccan B2B e-commerce company.
In a statement, VKAV says the investment would support Chari's growth plan and help develop its cutting-edge financial services infrastructure. Under the investment deal, VKAV's Partner, Ryosuke (Rio) Yamawaki, has been appointed as a Strategic Advisor to Chari.
Chari operates a Business-to-Business (B2B) e-commerce platform that offers grocery stores services, including free-of-charge product delivery.
Informal retail shops are vital in Morocco's Fast Moving Consumer Goods (FMCG) trade, accounting for over 80% of total transactions. However, companies working within the space face operational challenges, including inefficiencies due to intermediaries, a lack of digitization, and limited access to trade finance.
Commenting on the partnership, Ismael Belkhayat, CEO and Co-founder of Chari, expressed his enthusiasm for the partnership with VKAV.
“We are thrilled to have VKAV as our partner as we establish a cutting-edge and fundamental financial services infrastructure for the mass market in our country,” he said. “With VKAV's extensive network across Africa and profound connections with the Japanese corporate society, we believe they will consistently bring value to our endeavors.”
Ryosuke (Rio) Yamawaki, Partner at VKAV, emphasized the firm's focus on investing in category-defining African start-ups.
“Chari is uniquely positioned to transform the informal retail sector and redefine the category of informal trade in Africa,” Yamawaki said. “We firmly believe that their innovative approach will benefit the local market and serve as a showcase to the rest of the world.”
Rabat - Verod-Kepple Africa Ventures (VKAV), a Nigeria-based investment firm, announced today its plans to invest $1.5 million in Chari, a Moroccan B2B e-commerce company.
In a statement, VKAV says the investment would support Chari's growth plan and help develop its cutting-edge financial services infrastructure. Under the investment deal, VKAV's Partner, Ryosuke (Rio) Yamawaki, has been appointed as a Strategic Advisor to Chari.
Chari operates a Business-to-Business (B2B) e-commerce platform that offers grocery stores services, including free-of-charge product delivery.
Informal retail shops are vital in Morocco's Fast Moving Consumer Goods (FMCG) trade, accounting for over 80% of total transactions. However, companies working within the space face operational challenges, including inefficiencies due to intermediaries, a lack of digitization, and limited access to trade finance.
Commenting on the partnership, Ismael Belkhayat, CEO and Co-founder of Chari, expressed his enthusiasm for the partnership with VKAV.
“We are thrilled to have VKAV as our partner as we establish a cutting-edge and fundamental financial services infrastructure for the mass market in our country,” he said. “With VKAV's extensive network across Africa and profound connections with the Japanese corporate society, we believe they will consistently bring value to our endeavors.”
Ryosuke (Rio) Yamawaki, Partner at VKAV, emphasized the firm's focus on investing in category-defining African start-ups.
“Chari is uniquely positioned to transform the informal retail sector and redefine the category of informal trade in Africa,” Yamawaki said. “We firmly believe that their innovative approach will benefit the local market and serve as a showcase to the rest of the world.”
