Wasoko expands its African footprint with entry into Democratic Republic of Congo

DRC – In a bold move to further revolutionize the African e-commerce landscape, Wasoko, a innovative tech-driven retail supply chain company, has announced its expansion into the Democratic Republic of Congo (DRC).

This strategic expansion, following the recent launch of operations in Zambia, reaffirms Wasoko’s commitment to propelling local businesses across the African continent.

The venture aims to empower small businesses in the DRC’s North Kivu province, starting with the capital city of Goma, while promoting regional economic integration and sustainable development.

Wasoko’s journey to the DRC has been made possible through special cross-border trade zones and the support of the Rwandan government, solidifying their dedication to fostering economic ties among neighboring nations.

The company joins a select group of businesses facilitating cross-border commerce with the goal of integrating the DRC into the East African Community, driving economic growth, job creation, and development across the region.

Since its inception in Rwanda in 2019, Wasoko has experienced remarkable growth, with revenues skyrocketing from $2 million in its inaugural year to an impressive $48 million in 2022.

Serving over 5,000 informal retailers in Rwanda, the company’s success there has set the stage for its ambitious expansion into the DRC.

Daniel Yu, Founder and Global CEO at Wasoko, emphasized the vast potential in the DRC, stating that the republic presents a substantial market opportunity for Wasoko.

“Despite infrastructural challenges, the country’s nearly 100 million people with increasing purchasing power make it a vastly untapped opportunity,” he said.

“Through our cross-border logistical capabilities, established platform, and extensive product range, we strongly believe we’re well-positioned to unlock this potential and become the market leader in the DRC’s B2B e-commerce space.”

With its sights set on further African expansion, Wasoko intends to replicate its successful model in other regions, solidifying its Pan-African presence and empowering local businesses while offering diverse products and services to African consumers.

“The Government of Rwanda is pleased with Wasoko’s expansion into the DRC. It joins Rwanda’s success stories of its proof-of-concept strategy, allowing investors to test their solutions in Rwanda before scaling to the region,” Philip Lucky, Acting Chief Investment Officer at Rwanda Development Board commented.

Since its inception in 2016, Wasoko has been a pioneer in leveraging innovative technology to address supply chain inefficiencies faced by millions of local shop owners in Africa’s informal retail sector.

With a presence in Kenya, Tanzania, Rwanda, Uganda, and Zambia, the company boasts a network of over 220,000 informal retailers and has successfully delivered more than 5 million orders to date.

Wasoko’s expansion into the DRC marks another milestone for the company, which raised a record-breaking US$125 million in a Series B funding round in March 2022, setting a new benchmark for non-fintech startups in Africa.

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