Ghanaian retail-tech startup Tendo Technologies has announced a strategic acquisition of its counterpart, Shopa, in a deal aimed at revolutionizing supply chain infrastructure across Africa. Tendo Technologies, founded in 2021 by Felix Manford, Evans Boateng, Derrick Mungai, and Primerose Katena, empowers tens of thousands of individuals to launch and grow their online businesses without the need for initial capital by connecting them with suppliers.
The company boasts a robust network of over 10,000 retail resellers in Ghana and Nigeria, where it expanded in 2022, reaching more than 42,000 customers with a diverse range of products including fashion, beauty, electronics, and fast-moving consumer goods (FMCG).
Shopa, also founded in 2021 by Michael Hammond, Frank Addae, and Ulrich Checkap, optimizes the distribution of FMCG through its technology platform that connects retailers directly with suppliers and manufacturers. Shopa has built a network of over 3,000 retailers in Ghana and advanced operational systems.
Both companies received funding and support from the Catalyst Fund Inclusive Digital Commerce Accelerator in 2021. The acquisition deal, structured as a combination of cash and stock, has now merged the two companies. As part of the acquisition, Shopa will rebrand to Tendo Retail, a newly formed division of Tendo. This division will be headed by Shopa CEO and co-founder Frank Addae and will focus on providing informal distributors in Africa with advanced technology to scale their businesses.
Tendo will leverage Shopa’s extensive network of offline distributors to connect with its online retailers, thereby expanding its product offerings and creating more opportunities for entrepreneurs. With FMCG already contributing over 30 percent to Tendo’s current volume and continuously growing, the company aims to enhance its offerings and ensure a consistent supply for its resellers. This partnership will also empower FMCG distributors in Africa, who have been largely offline, to seamlessly unlock new online channels through Tendo’s network of over ten thousand online resellers.
We are excited to have Shopa, an integral provider of technology infrastructure for the informal supply chain in Africa, as part of Tendo Technologies. Our vision at Tendo is to help entrepreneurs and small businesses start and scale their businesses by making supply chains seamlessly accessible. Our partnership with Shopa will enable this, leveraging their advanced distribution technology and wide network of suppliers to deliver unprecedented value to our offline and online retailers. Together, we will revolutionize the retail space in Africa and empower entrepreneurs across the continent.
Felix Manford
Frank Addae expressed his enthusiasm about joining the Tendo team;
This partnership will enable us to access Tendo’s resources and capabilities, strengthening our value proposition to suppliers and manufacturers in Africa. Our expanded offerings will include greater opportunities for suppliers to unlock new retail channels and access diverse online and offline markets to scale their businesses. Together, with our shared vision and values, Tendo and Shopa will take the informal retail space in Africa to new heights.
