Thumeza is a local logistics startup that provides financing to small-scale operators so they can meet their obligations while they (the operators) wait for their clients to pay for their services. And business has been going very well for them according to a report by Disrupt Africa. Thumeza CEO and founder Gugulethu Siso said they have been overwhelmed by the response they have received from the market.
“We have had overwhelming interest from our target users, with signups growing by 12 per cent week-on-week. This has provided us with other potential add-on services to complement our core offering as we grow”Gugulethu Siso, Thumeza CEO and founder
In the same report by Disrupt Africa, Gugulethu Siso said that the company is now looking to make moves in the SADC region.
“Our immediate goals are to expand across the SADC region to take advantage of traffic going through Kazungula as well as the active transporter demographic within those key markets”
This is really surprising if you have been following Thumeza’s trajectory over the years. The company has been involved in a number of incubators and accelerators including ones done by The Tony Elumelu Foundation, Google Startups for Africa and most recently being in the top 10 of the Telecel Group ASIP US$750K accelerator. Thumeza has also worked with a number of large retailers in Zimbabwe like TM Pick’n’Pay and SPAR.
With operators signing on the service at this rate, it makes sense to be looking elsewhere in the region. The markets might not necessarily be the same but financing is a consistent problem for all businesses in Africa.
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I had the opportunity to talk to Thumeza’s CEO Gugulethu Siso, to go over the startup’s selection for the Telecel Group Accelerator, business model, and more.