Ghana’s Plendify Enhancing Africa’s Supply Chain
Without commodity exchanges, it would be difficult—if not impossible—to establish a standardized price for a commodity. Those in the commodity industry would be personally responsible for finding individual buyers and sellers, and the few buyers they contact will be the ones who determine the prices of commodities. There would be a higher possibility of commodity producers going bankrupt if they couldn’t hedge their operations with the use of a commodity exchange. That, in turn, would likely lead to higher prices for commodities and higher operational costs around the globe. Ghana’s startup, Plendify has been offering a way out for African businesses by creating a strong supply chain for African businesses.
Plendify was established in 2018 by Beau Sackey to help small and medium businesses in Africa execute commercial transactions. The startup operates an e-commerce B2B Marketplace platform and has chosen to be dominant in categories that traditional e-commerce players are not dominant in, for example, food & beverage, beauty/cosmetics, agriculture, and farming.
With Plendify, the suppliers and buyers can connect with each other and chat securely on the mobile application. It also provides analytics solutions for suppliers to track promotions that help suppliers to make data-driven decisions.
According to Beau, the platform has crossed 5000 app downloads, in less than 4 months, and since launching its marketplace platform in the 4th quarter of 2020, Plendify has seen increasing growth across all key performance indicators.
Since e-trading platforms allow exchanges to function on a global scale, providing a balanced level of speed, access, and transparency for everyone, then Plendify is surely doing a great job for Africans and African businesses and can be catalysts to substantive business growth in Africa.