#66: TradeDepot - How the B2B retail platform is improving the supply chain for informal SME retailers and consumer goods producers across Nigeria and Africa

Overview: Today, we’re going to talk about TradeDepot. We’ll explore the story across the following areas:

Africa’s and Nigeria’s informal retail sector

TradeDepot's early history

Product & monetization strategy

Competitive positioning & potential exit options

Overall Outlook.

This episode was recorded on June 25, 2023

Companies discussed: TradeDepot, Twiga Foods, Wasoko (Sokowatch), Omnibiz, Alerzo, Marketforce, Sabi, Multipro, FMCG Distributions Limited & Kellogg

Business concepts discussed: Informal retail penetration, SMB retail OS, B2B Operating systems, Informal markets, B2B retail, Buy Now Pay Later, Trade Finance & last-mile distribution

Conversation highlights:

(01:00) - TradeDepot intro and why we’re talking about them

(06:50) - Africa’s informal retail sector

(20:55) - Differences in informal retail across Africa

(25:43) - Founders’ background and early history

(36:45) - Launch strategy

(42:54) - Fundraising and Growth

(49:55) - Growth and geographical expansion

(1:02:33) - Product strategy and evolution

(1:15:26) - Monetization strategy and costs

(1:13:11) - Competition

(1:25:05) - Options for exit

(1:32:52) - Bankole’s overall thoughts and outlook

(1:42:22) - Olumide’s overall thoughts and outlook

(1:53:03) - Recommendations and small wins

Olumide’s recommendations & small wins:

Interested in investing in Africa Tech with Olumide: Read about Adamantium fund & contact me at [email protected]. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at [email protected]

Checkout my FIREDOM book = FIRE (Financial Independence, Retire Early) + Freedom = personal finance and financial independence book. Website, Read: Substack Newsletter & Buy: Print, eBook or Audiobook)

Recommendation: Eleven Rings (Phil Jackson). Great book about the unbelievable career of Phil Jackson who won rings with the Bulls (Michael Jordan) & Lakers (Shaq & Kobe).

Recommendation: Spider-Man: Across the Spider-Verse movie. Best movie I’ve seen in years. Remarkably good. Great story. Great visuals. Fun!

Small win: Friends together for a birthday party on a boat and at the club. It was incredible.

Small win: FIREDOM book launch party in Washington DC. I wasn't even there but I felt the energy all the way from here in Miami.

Bankole’s recommendations & small wins:

Recommendation: Voyager Playlist, Basquiat - Asake & Iya Eba’s Legacy

Small win: Switched to a new keyboard - the Keychron K2

Listeners: We’d love to hear from you. Email [email protected] with feedback!

Founders & Operators: We'd love to hear about what you're working on, email us at [email protected]

Investors: It would be great to link up with you. Contact us at [email protected]

Join our insider mailing list where we get feedback on new episodes & find all episodes on Afrobility.com