Nomanini publishes impact case study of its flagship business Trader Direct, in Zambia
In an environment susceptible to external shocks, Trader Direct offers a way for informal retailers to grow their businesses with minimal risk. Even a small increase in monthly sales can have a huge impact on the lives of informal retailers and their families.
Nomanini serves a high proportion of first-time digital finance users. 82% of these retailers are accessing a service like Trader Direct for the very first time and cannot easily find a good alternative. This indicates that Nomanini is providing a service that agents would struggle to find elsewhere as well as filling a pertinent gap in the market.
Trader Direct is the retailer till point solution offered by Nomanini in partnership with Standard Bank.
The impact of Trader Direct enables retailers to sell digital VAS products and access large volumes of cash deposits and withdrawal transactions in the informal market. This solution is customisable and can include merchant savings, business/ consumer insurance and account openings for FSPs. An interoperable wallet enables FSPs to create points of representation and acquire informal merchants as business banking customers.
Of the 250 retailers who participated in the survey, 70% reported that their quality of life has improved, 69% increased their ability to manage their finances and 60% improved the quantity and quality of their meals. For these retailers, success depends to a great extent on the variety of products they can offer, as well as the amount of stock they can purchase upfront. Judging from Trader Direct’s uptake and retailer testimonials,
This impact study features insights from research commissioned by Nomanini and conducted by 60 Decibels and the full case study is available on their website.
Verdant Capital is currently raising a USD 5 million Series A extension for Nomanini.