The Catalyst Fund Inclusive Digital Commerce Accelerator has selected four Ghanaian digital commerce companies to be part of its second cohort.
Catalyst Fund partnered with the Mastercard Foundation and the Meltwater Entrepreneurial School of Technology (MEST) to launch the Inclusive Digital Commerce Accelerator in Ghana in October of last year, signifying the first expansion of its flagship inclusive fintech program.
The accelerator aims to help Ghanaian micro and small enterprises (MSEs) become more resilient, with the first two companies selected in March. The companies selected for the second cohort are OZÉ, which enables MSEs to keep digital financial records and access much-needed formal; Shopa, which connects last mile retailers with suppliers and enables access to stock on cash or credit; Swoove, which connects e-commerce businesses with accessible logistics services at an affordable price; and Tendo, which enables anyone in Africa to sell online with zero upfront inventory.
Each of the four startups will receive a grant of up to $120,000, as well as bespoke expert-led venture acceleration support, connections with Catalyst Fund’s growing global Circle of Investors and Circle of Corporate Innovators, and MEST’s in-market expertise.
“Informal MSEs, many of whom are youth and women, get by using a piecemeal approach to digital commerce, often marketing via Facebook, Instagram and WhatsApp, taking in-person payments and manually addressing delivery, which is costly and puts the risk and heavy lift on the retailer. Companies like OZÉ, Shopa, Swoove, and Tendo are solving this problem with easy-to-use and affordable digital commerce services and are spurring the expansion of the digital commerce ecosystem in Ghana,” said Jane del Ser, programme director for the Catalyst Fund Inclusive Digital Commerce Accelerator.