Sokowatch provides a digital platform for informal retailers in Africa to order inventory, access working capital, and receive same-day delivery of goods. By digitizing the supply chain, Sokowatch helps small businesses grow and improves access to essential products.
Funding
Funding not disclosed
Founders
Product
Problem
Importers and forwarders in Africa face significant cash flow challenges due to container deposit requirements imposed by shipping lines. These deposits can tie up substantial capital, hindering their ability to manage operational costs and limiting their capacity to handle more cargo. The need to quickly raise these funds can also slow down operations and create a competitive disadvantage for smaller players.
Solution
Container Deposit Fund (CDF) provides trade financing solutions that alleviate the cash flow strain associated with container deposits. CDF guarantees container deposit needs by providing the deposit on behalf of clients, allowing them to free up capital for other critical business expenses. By offering fast funding approval within 24 hours, CDF enables clients to clear cargo more efficiently, avoid demurrage and storage charges, and increase their operational speed. This service helps businesses of all sizes compete more effectively and invest in essential infrastructure.
Target Audience
CDF primarily serves clearing agents and consignees with cargo shipped through shipping lines operating at the port of Mombasa.
Features
- Funding for 20ft, 40ft, and transit containers
- Up to $10,000 in funding available
- Funding approved within 24 hours of application
- 30-day financing terms
- Dedicated customer support
- Online account opening and application process