Glovo Set To Invest 60 Million USD In Africa Operations

By Soko Directory Team / Published September 8, 2021 | 8:29 am




KEY POINTS

Glovo says it will double its existing investment in Africa to $59.3 million over the next 12 months as it looks at widening its net on African markets.


Glovo

Glovo says it will double its existing investment in Africa to $59.3 million over the next 12 months as it looks at widening its net on African markets.

“Our vision is to give everyone easy access to anything in their city and our platform is at its best when it is connecting users and businesses, most of which are local restaurants and independent stores,” Glovo co-founder Sacha Michaud said.

Glovo estimates that the investment will allow 6.5 million people to access its app, and support its objective to make everything, within all towns and cities, available to everyone.

The platform entered the African market at the end of 2018 in Morocco. It has operations in Kenya, Uganda, and Cote d’Ivoire.

“We believe there’s a huge opportunity in these countries to help accelerate digitalization and meet the rising demand for online shopping and deliveries, and we are working hand-in-hand with our local partners to market and deliver their goods to new users through the app,” he added.

At the same time, the platform has partnered with Kenyan supermarket Chandarana Food plus with the intent to link its customers to an ever-expanding portfolio of niche outlets.

Speaking during the partnership announcement, Priscilla Muhiu, Glovo’s General Manager for Kenya, said that the move will benefit Chandarana Foodplus customers through enhancing the efficiency of fast delivery service while also positioning Glovo as a trusted delivery partner to use.

“We are proud of this partnership, and we look forward to delivering the wide range of  Chandarana  Foodplus products to our customers in Nairobi, and eventually other towns in Kenya. We know how niche the Chandarana Foodplus customer is, and it is a great pleasure for us to be able to offer our services to this market segment,” said  Priscilla.

“Our desire is to be the top-of-mind multicategory delivery app and we look forward to enabling our consumer base to access Chandarana Foodplus products from wherever they are. We believe that this partnership will help us achieve our broader strategy of being a one-stop-shop for all our customer’s deliveries,” she added.

Read More: Glovo launches in Nairobi, Offers “Money Back Guarantee” For Deliveries Done in More than 45 Minutes





About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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