Thumeza Q1 2023 Update
We are excited to bring you the third edition of our newsletter with the latest updates on the first quarter of the year!
1. We have surpassed $1 Million in disbursements to clients
When we started solving the challenge of lack of access to credit in 2021, we were energized and focused but also getting our bearings as a newbie in the industry. Nearly two years later, we are thrilled to share that we have passed one million US dollars in disbursements!
This is an exciting milestone for us because we intimately understand the challenge that is stifling the growth of thousands of small-scale transporters across Africa’s USD$300 billion dollar logistics market. Although our current demand for financing is USD$+17 million and growing exponentially we are optimistic about the growth trajectory and the commitment to servicing logistics players in the continent. We are grateful to all our partners and clients that have contributed to our growth thus far.
2. Onboarding Credit Providers
Thumeza's business model is centred around providing an investment vehicle to further the supply chain industry in Africa. There are a variety of goods that we depend on day to day and those that make our lives easier. The passage of those goods, components and many other things is in Africa reliant, in large part, on Small to Medium Enterprises (SMEs). They are the silent but large cog in most African economies: but they lack the working capital that will allow them to scale their operations or meet the ever-increasing demands in their respective areas of expertise
At Thumeza, we have built a network of clients in South Africa, Uganda and Kenya who are direct beneficiaries of the funds that are entrusted to us.
The SME operators we seek to serve, get a vital lifeline to service the next invoice. The funds we deploy are sometimes the difference between a promising endeavour in logistics succeeding or meeting a premature end.
On the investor's side of things, we provide returns of 12% per year, which in simple maths is, if one invested US$1,000, they would get 120 dollars in return at the end of every year.
To this day, our pool of funds has come from individual debt investors, funds and consortiums who want to pump money back into Africa but are assured of steady returns.
Here is what one of our credit providers had to say about their experience with Thumeza;
“Working with Thumeza has been effortless. The communication is transparent, the interaction swift and the payments are on time. They surely have the trust element on their side”, Marielle Dold, Co-Founder, Umati Invest
If you are interested in our mission, please reach out directly to our CEO here.
3. Women's Month: Shoutout to Women in Logistics!
A few weeks ago we commemorated International Women’s Day, a day that celebrates women's achievements and calls for equal opportunities for women to thrive. Women have long been underrepresented in the transport and logistics industry. IWD allowed us to reflect on the strides made regarding gender equity in the logistics industry. There has been a steady increase in the number of women in the sector from entry-level positions to leadership positions.
While many obstacles have prevented women from operating logistics businesses, one central pain point has been the lack of access to credit. Currently, 30% of our clientele comprises female-owned logistics companies. Thumeza is committed to reaching a 50% equilibrium by the end of the year.
4. Industry Snapshots Series
We introduced a monthly series to keep you up to date on what’s trending in the fintech space. The series will help you understand how elements in fintech work, or don’t work, and provide tools, tips and techniques on how to navigate the space. In January we covered B2B Lending, particularly why it's making waves and what you need to consider if you want to ride the wave and venture into B2B lending or to just satisfy your curiosity. This includes KYB and Insurance. In March, we zeroed in on cross-border transactions, cash crunch and cash collections. Follow us on our social media platforms so that you do not miss any updates!
5. Where are we with the AfCFTA?
The AfCFTA is one of the major developments in Africa right now whose achievements may revolutionize trade in Africa as we know it. Last year we introduced a mini-series that tracked the developments about AfCFTA and below we have some interesting tidbits that will allow you to keep track of what's going on;
The inaugural AfCFTA Business Forum commences on the 16 to the 19th of April 2023 in Cape Town. The aim of the forum (Registration Link here) is to earnestly accelerate the implementation of the AfCFTA and activate trade and investments, the AfCFTA Secretariat, in collaboration with the Government of South Africa. Sidebar; keep an eye out for Team Thumeza as we’ll be part of panels such as “Expanding Digital Trade and interoperable payments systems in the AfCFTA”.
Our friends over at the Zimbabwe Institute of Africa Integration have published a short article on, “The AfCFTA and Logistics” that is super interesting. The link to the article is here.
The AfCFTA Secretariat and the Government of Zimbabwe are working together to ensure that within 5 years, Zimbabwe is a net exporter of grains. Zimbabwe currently has an excess of $200 Million worth of grain that has gone to waste every year due to a lack of storage and processing capacity.
Get in touch with us!
Are you in need of credit to keep your goods moving whilst you wait to get paid? Or are you a credit provider interested in logistics financing? Or would you just like to keep up to date with us? We would love to hear from you! You can connect with us via our social media platforms: