Ayo Technology and Loot will launch a new digital marketplace aimed at helping small to medium enterprises (SMMEs) access the rapidly growing digital retail sector in Africa.
The new online marketplace will be hosted on the Loot retail platform from which qualifying businesses can showcase their products and services to a very broad and diverse consumer base.
The first phase of the marketplace will roll-out in conjunction with the Black Business Chamber (BBC).
The marketplace will give these businesses the ability to scale and effectively penetrate a scale and effectively penetrate a previously inaccessible market by enabling them to transact directly with consumers through their digital shop window.
Loot said it will create an online store for each business and further aid them with a host of behind the scenes practicalities, such as stock monitoring and marketing access to a pre-existing audience.
“South Africa’s long-term economic growth will more than likely come from the entrepreneurial and SMME sector,” said Greg Le Roux, chief executive officer of Loot.
“With access to the right platforms, markets and tools, today’s small business could well be tomorrow’s superstore and we aim to be their economic architect of choice.”