South African fintech startup Nomanini is expanding its recently-launched supply chain finance solution StockNow to eight new African markets via a strategic partnership with financial services provider Baobab Group. Founded in 2010, Nomanini has developed a platform that enables informal merchants and micro-entrepreneurs in emerging markets to distribute digital goods such as airtime and prepaid electricity. Disrupt Africa reported last month on Nomanini’s launch of StockNow, which connects FMCGs and financial service providers to serve Africa’s informal retailers at scale. The startup has now agreed a strategic partnership with Baobab, a financial services group that, via its subsidiaries, provides financial services to half a million micro-entrepreneurs and small businesses. The company has operations in eight African countries, to which Nomanini will now, over time, expand StockNow.

Source: The North Africa Journal July 12, 2022 08:52 UTC