Nairobi-based last-mile logistics startup Bwala Africa Group has secured a loan of 24-million Kenyan Shillings ($238 000) from Kenyan bank CFC Stanbic.
The startup, which launched earlier this year in January and claims to have recorded over 6000 deliveries in Nairobi, will use the capital to purchase eight new trucks from Isuzu East Africa.
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In a statement yesterday (4 September), Bwala Africa Group founder and CEO Kennedy Nyabwala said the startup has entered into “major partnerships” with some of Kenya’s top retail stores.
Bwala Africa Group, which was founded nine months ago, has also launched its own escrow payment service called BwalaPay
“The partners include Copia, Naivas and Jumia which are by far the biggest retail and ecommerce brands in Kenya,” explained Nyabwala (pictured above).
The startup has also announced that it has launched its own escrow payment service called BwalaPay, through which it says it has collected over 7-million Kenyan Shillings ($70 000) from customers.
“BwalaPay allows customers to pay on delivery and the seller on the other (end) will either get cash when the item is sold, or return the package, if not sold. This has solved a big pain on online fraud,” said Nyabwala. He added that he intends to extend the service to other online businesses.
The nine-month old startup is currently looking to set up a 12 000 square metre warehouse.
In addition, Nyabwala has ambitions to expand the business to Uganda, Zambia, Ghana, Zimbabwe, South Africa, as well as to far markets in Asia like Bangladesh, India and the Philippines.
Featured image: Bwala Africa Group founder and CEO Kennedy Nyabwala (Supplied)
