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.<\/p>\n
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.<\/p>\n
The first phase of the marketplace will roll-out in conjunction with the Black Business Chamber (BBC).<\/p>\n
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.<\/p>\n
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.<\/p>\n
“South Africa\u2019s long-term economic growth will more than likely come from the entrepreneurial and SMME sector,” said Greg Le Roux, chief executive officer of Loot.<\/p>\n
“With access to the right platforms, markets and tools, today\u2019s small business could well be tomorrow\u2019s superstore and we aim to be their economic architect of choice.”<\/p>\n