Sabi connects merchants — manufacturers, distributors, wholesalers, and retailers — to a larger marketplace and provides them with other useful products such as loans and inventory management.
The company, founded in 2020 by Anu Adasolum — CEO and co-founder — and Ademola Adesina, has an office in Kenya’s informal market and has had its sights set on South Africa, the Ivory Coast, and the Democratic Republic of the Congo for some time.
Sabi claims that the partnership and launch will enable it to tap into South Africa’s informal economy, which he describes as a frequently overlooked group across Africa. Over 200,000 spaza shops and spazarettes, 100,000 Kasi Kos traders and taverns, and 500,000 street hawkers and tabletop traders make up this group.
The group, worth over R157 billion ($9 billion), provides necessities such as food and clothing while employing roughly 30% of the country’s population.
The Nigerian startup has also partnered with Vumele, a South African technology platform, to broaden its reach and services to the country’s informal economy.
The company’s mobile app now includes customized features such as an eCommerce shop (Merch Buy), inventory purchase, credit, and business performance tracking for registered businesses. Furthermore, the “My Shop” feature allows businesses to track customers’ sales who buy from their stores, resulting in more efficient service delivery.
However, it is unclear how Sabi plans to compete with other established local brands in this sector, but the company is optimistic about its prospects.
Sabi is also enthused about achieving its short-term goals of expanding to the Ivory Coast and the Democratic Republic of the Congo.
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