Fintech Startup, Nomanini Unveils New App for Retailers in Africa

The debut of StockNow, a new supply chain finance solution that connects FMCGs and financial service providers to serve Africa’s informal merchants at scale, was announced on Monday by Nomanini, a rapidly expanding fintech platform in the continent.

Informal micro and small shops may now buy stock digitally thanks to StockNow, a simple-to-use app created by Nomanini.

Global FMCG value chains reach ten million informal merchants in Africa, but many lack access to responsible and inexpensive financing options to maintain their shelves stocked with goods to draw customers and expand their companies.

In order to maintain their shelves supplied with necessities and support last-mile consumers, informal merchants can use the StockNow app, which connects them to distributors of global fast-moving consumer brands that are significant in the general trade market.

facilitating access to basic business finance options for unlicensed sellers

Nomanini’s launch of StockNow, which went live in Tanzania with a major partner Nestlé ESAR, formalized the connection and enabled a more strategic approach to lessen some of the issues faced by merchants in Africa’s general market, particularly as they recover from the pandemic’s consequences.

Vahid Monadjem, CEO of Nomanini, says that COVID “truly underlined how vital these stores are to their communities.”

And regrettably, he continues, “their lack of access to responsible business finance solutions leaves them especially exposed during and during times of crisis.”

“We saw the opportunity to accelerate the development of our digital working capital solutions to provide tools to help shops keep their shelves stocked with key commodities in response to issues we observed merchants confront during the pandemic and related lockdowns,” he says.

With aspirations to spread the service throughout the continent from Mozambique to Uganda, the Democratic Republic of the Congo to Egypt, StockNow is currently live and being rolled out to thousands of unauthorized businesses in Tanzania.

FMCGs who want to expand into emerging countries have difficulties because, in the absence of accessible working capital, many informal retailers experience times when they are unable to pay their suppliers to replenish their inventory because of a lack of cash flow at the time of delivery. As a result, the stock is unintentionally returned to the depot, which raises the cost of operating.

By offering an end-to-end solution to supply responsible working capital so that informal retailers may fill their shelves in a predictable manner, Nomanini’s StockNow solution aids FMCGs in overcoming these difficulties.

StockNow helps FMCGs improve operational efficiency by unlocking trade data and obtaining visibility into the sales and preferences of informal merchants. This is accomplished by digitizing the supply chain. Improved efficiencies also result from automating settlements and encouraging electronic payments throughout the value chain.