TradeDepot, a Nigerian e-commerce and embedded finance platform, led by leading technology entrepreneur Onyekachi Izukanne, has acquired Ghanaian Green Lion to speed up the delivery of its service in Ghana.
TradeDepot will leverage the Ghanaian company’s data, technology and robust logistics operations to connect more Ghanaian neighborhood retailers to reach suppliers. It also aims to improve the accessibility and affordability of finance.
This development will see the Green Lion team join TradeDepot in support of its mission to make food affordable and available in rural areas.
TradeDepot CEO and Co-Founder Onyekachi Izukanne commented on the acquisition, stating that Ghana is a major market for African consumer goods.
He said: “We are thrilled to welcome the Green Lion team aboard to drive growth for more distributors and retailers in the country. We look forward to strengthening our relationship with Ghana’s market and working with more partners in order to maximise the opportunities that exist in Ghana and elsewhere.”
Jorge de Rojas, the CEO of Green Lion, said they were delighted to join the TradeDepot family. He added that their work to support African neighbourhood retailers was continuing. “It’s a very exciting time in Africa for B2B eCommerce. We are excited about the chance to create more value in Ghana and across the continent,” he said.
He added that TradeDepot will take over all Green Lion Africa assets and relationships in Ghana.
The Green Lion team will join TradeDepot to help support the mission of building the future retail sector and making food more affordable for the continent’s most remote consumers.
The move comes nearly two months after TradeDepot raised $110 million in equity and debt financing rounds to support the delivery Buy-Now-Pay Later services to 5 million SME retailers. It also enables TradeDepot to expand its merchant platform throughout Africa.
