Mitsui & Co., Ltd. (Mitsui) is pleased to announce that Mitsui and ETG Global Limited, a company owned by the joint shareholders of ETC Group Limited (ETG, an affiliate of Mitsui), have invested in Kyosk Global Holdings (Kyosk), a technology company that has developed a Business-to-Business (B2B) digital platform. Leveraging smartphone penetration in the African continent, the Kyosk app serves as the link between suppliers and traditional retailers.
In Africa, where population growth will lead to expanded consumer participation, Kyosk is projected to have over 300,000 informal retailers registered on the platform by 2024. This will be achieved through four key areas, namely (i) by providing convenience to informal retailers who are the core of the consumer market, (ii) by expanding the number of products available through ETG’s distribution business in Africa and its powerful network, (iii) by providing quick delivery after ordering, and (iv) by expanding financial services for informal retailers such as post-payment functions.
Tetsu Watanabe, Chief Operating Officer of Mitsui’s Nutrition & Agriculture Business Unit, said, “We are delighted to invest in Kyosk, whose business leverages digitalisation and rides on the growing smartphone penetration in the African region, allowing effective and efficient connection between suppliers and retailers. Beyond our investment, we also look forward to offering strategic support to further scale Kyosk’s business. This will be done through tapping our expertise and experience to strengthen Kyosk’s digital transformation and marketing strategy”
Mitsui sees huge potential in Kyosk as a conduit to reach the African consumer market and an avenue to create real economic impact, while supporting entrepreneurship within local communities. Kyosk’s growth will contribute to improving incomes, creating jobs and supporting Micro, Small and Medium Enterprises (MSME).
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