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Standard Chartered has announced getting into the ecommerce space in Kenya with the expansion of Solv, their Business to Business (B2B) marketplace first launched in India in 2020.
The company, through SC Ventures, their innovation, ventures and fintech investments unit, announced back in December 2020 that they would – after India – expand to Kenya and Ghana.
Solv is a marketplace for micro, small and medium-sized enterprises (MSMEs). It is a platform meant to helps MSMEs trade goods with each other, expand their customer base, digitise their businesses and access more.nSolv is fully owned by the Standard Chartered Group.
Through Solv, MSMEs will access services like:
- Digitised operations;
- Buy now Pay Later (BNPL) programs and credit facilities from multiple lenders;
- Oon-ground logistics support
- Insurance
Recently, through the SC Ventures unit, Standard Chartered in Kenya announced the launch of SC shilingi, a money market fund done in partnership with Sanlam Investments. SC Shilingi allows Kenyans to invest with as little as KES 1,000 and earn interest.
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