Bosso Africa Secures Funding to Revolutionize Africa’s Construction Supply Chain
Bosso Africa, a Zambian-based company, has successfully secured funding to digitize the continent’s construction supply chain.
The company’s all-in-one user-friendly online marketplace aims to streamline the procurement of building materials for hardware stores, construction companies, and individual builders.
Bosso Africa’s innovative approach involves strategic partnerships with financial institutions to enhance access to finance. This initiative provides customers with a range of financing options, including stock advances through the “buy now pay later” (BNPL) credit approach, mortgages, and the “save now, build later” (SNBL) approach.
CEO Chisepo Chirwa emphasized the immense challenges and potential within Africa’s construction industry, presenting a significant opportunity for Bosso Africa.
“Our mission is to make affordable building materials universally accessible through our e-commerce platform, providing a faster, more cost-effective, and efficient solution,” stated Chirwa.
Through strategic collaborations with manufacturers, Bosso Africa offers a diverse product range, improving transparency and efficiency in the construction supply chain, ultimately reducing transaction costs.
The company’s approach aligns with the current push by many African governments for affordable housing solutions.
Renew Capital, an investment firm, expressed their support for Bosso Africa’s innovative platform.
“Affordable housing starts with the provision of affordable housing materials,” stated Calvin Chitangala, Renew Capital’s investment and project manager for Zambia. “Bosso’s innovative platform improves the sourcing of building materials in Africa, and we are delighted to support them in their journey.”