Kenya’s B2B retail end-to-end distribution platform, MarketForce has slashed its workforce by 9%, as a part of a reorganization strategy in Kenya, one of its five markets which include Nigeria, Rwanda, Uganda and Tanzania.
Marketforce CEO Tesh Mbaabu says the company let go of 54 people, mainly from field sales, supply chain and customer experience departments.
“Some of these roles were instrumental to Marketforce’s growth over the past year as the company concentrated its efforts on onboarding thousands of merchants to its RejaReja platform. However, they had become redundant now that the company wants to drive more revenue per merchant,” he added
This February, the firm raised a $40 million Series A in debt and equity (equally shared across the board) from V8 Capital Partners, Ten13 VC, SOSV Select Fund, VU Venture Partners, Vastly Valuable Ventures and Uncovered Fund.
MarketForce’s play enables the optimized distribution of FMCG goods and financial services through small retail shops and their distribution networks. Their other product, RejaReja, is a B2B e-commerce marketplace for merchants. It helps informal retail merchants buy and sell FMCGs and digital financial services.
The startup has a presence in Kenya, Uganda, and Tanzania. Its clients include Pepsi, Safaricom, Fort Beverages, Lami and Platinum Credit, among others.