Thumeza, the logistics financing platform, announced its Q3 2022 report of sorts in the startup’s inaugural quarterly newsletter. In that report, Thumeza revealed that it had made serious strides in the logistics space with signups on its platform increasing by 51% between January and September.
“This has been due to strong logistical activities from the local economies that our clients are active in as well as word of mouth advertisement. We believe with a stronger emphasis on paid advertising, we can get it higher to 80%.”
Thumeza
Furthermore, the startup said that the monthly demand for its working capital credit facility for logistics operators was valued at US$13.3 million as of September 2022. This was due, in large part, to the clients in its South African market taking to the service.
Thumeza also noted that its client retention is at a staggering 95%. This, according to the Q3 2022 newsletter, is because they have made a concerted effort to deepen relationships with their customers to keep track of any challenges or wins their clients may be experiencing.
Thumeza’s expansion continues
In Q1 2021, Thumeza announced that it would be expanding across SADC to solve the logistics financing problem it was trying to solve in Zimbabwe and South Africa.
Since that time they have added five territories to their scope of operations which include, the aforementioned Zimbabwe and South Africa, as well as Botswana, Zambia and Kenya.
In its Q3 2022 report, Thumeza announced that it has added Uganda to this list of countries through a company called Ridelink. The new partner is a third-party logistics aggregator that focuses on cross-border logistics for SMEs within the East African nation.
The addition of Ridelink and by extension Uganda, brings the complement of countries served to six…
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