Our Vision
What we do
We provide an eCommerce ecosystem that allows merchants, transport providers, and financial institutions to communicate and collaborate more efficiently in order to provide value for the African consumer, more specifically…
SPCTRM is an online marketplace that enable Merchants to set up an online store without the need for programming, system integrations, logistics management or online marketing. Any qualified merchant with a bank or mobile money account can:
Set up an one store front as easily as they can set up a social media page
Upload and present products in a customer friendly manner with no design skills
Sell products and accept payments into their bank or mobile money account from multiple payment providers without the need for integrations.
We enable transport providers to earn supplemental income by providing delivery services to merchants do not have logistical capabilities. On SPCTRM, qualified drivers can:
Receive notifications regarding deliveries near them;
Accept deliveries, and securely confirm pick ups and drop-offs with a single tap.
Access automatically updated financial records and keep track of their income.
We help financial institutions to reach new customers and provide added-value to existing customers. On SPCTRM, partner institutions can:
Reach several merchants with a single integration which allows the vast multitude of merchants with negligible ICT skills to access advanced payment capabilities.
Offer customers added-value and increase their transaction income by leveraging eCommerce to promote customer activity.
Increase their market share by beating competitors in the race towards embracing the rapidly emerging African digital economy.
We enable customers to discover stores and purchase products from the comfort of their homes. On SPCTRM customers with a bank or mobile money account can:
Purchase products from verified merchants using a secure payment system.
Save time and energy by avoiding traffic, the need to wait, and the need to leave their office or home in order to purchase goods.
Why we do it
WE BELIEVE IN AFRICA, we believe that it is the most underrated market by any measure. There are over 400 billion-dollar firms on the continent that have both higher-than-average profitability and growth rates when compared to their global peers. Africa is a huge and growing market but despite this, it is often depicted as unprofitable, risky, and small.
Africa is huge…literally
Despite its depiction on world maps, the continent has an area that is bigger than China, Europe, the United States and India combined. (Leke, Chironga, & Desvaux, 2018). Africa’s 55 countries have a combined population of over 1.3 billion, which is expected to grow by 87% by 2050, reaching a total population of 2.5 billion. (Google and IFC, 2020). Right now, 60% of Africa’s population is under 25 years old—much higher than the global average of 41%. (UNFPA, 2020). By 2050 it will account for 35 percent of the global youth population. In business terms, this means that Africa working age population will grow by 450 million between 2015 and 2035. (Page, 2018).
Not only is Africa’s population huge and young, it rapidly becoming more urbanized and integrated. 19 of the world’s fastest-growing countries are in Africa and the number of Africa cities with over 1 million inhabitants is expected to increase from 68 to 85 by 2025. By that same year, 190 million people (45 percent of the population) will live in African cities. By 2050, 800 million more Africans will have moved to urban areas. This will constitute a huge increase in consumer spending as African city dwellers spend 79 percent more than the national average on goods and consumers. (Google and IFC, 2020). This is mainly due to poor private and public service provision in rural areas as opposed to low demand.
In market terms, this means that by 2030, the African continent will be home to over 1.7 billion consumers with a total consumption expenditure of $2.5 trillion. The internet economy is set to be worth $180 billion by 2025 and $712 by 2050. It’s key sectors are fintech; e-Commerce; Healthtech; Media and entertainment; e-mobility and food delivery; and B2B e-Logistics. (Google and IFC, 2020). McKinsey & Company estimates that by 2025, African eCommerce will see annual revenues of $75 billion. (McKinsey & Company, 2013).
The African Union’s African Continental Free Trade Area (AfCFTA) will reduce tariffs across the continent by 90 percent make reaching those consumers much easier. Trading under the AFCFTA agreement—the biggest Free Trade Agreement by members since the WTO—began in January, 2021. Every African country, except Eritrea, is signatory and so far it has been ratified by 38 (about 70 percent) of the 54 signatories. (tralac, 2021).
Investors’ narrow focus leaves a large portion of the African continent under-served
According to The World Investment Report (2019) 50% of FDI inflows to Africa went to 5 countries. Partech reports that 85% of Africa’s $2 billion of tech-focused venture-capital went to 4 economies: Nigeria, Kenya, Egypt and South Africa. This leaves 50 countries heavily underserved. Several of these countries, like Malawi, have already demonstrated a willingness to adopt basic USSD-drive mobile banking for electronic transfers and are aggressively implementing legislation and initiatives to promote fintech.