A conversation with the chief executive of Duhqa
A conversation with the chief executive of Duhqa about the company's retail technology solution and winning $500k at the FTxSDG challenge
In spite of the fact that eCommerce has seen steady growth in Africa in recent years, the continent's online shopping market remains significantly smaller than the global average. Approximately 35% of Africans use the internet to shop. Thus, a significant proportion of Africans (approximately 65 percent) continue to rely on retailers and small business owners to provide them with daily household necessities such as groceries and utilities.
On the other hand, purchasing these items from retailers may be prohibitively expensive for low-income individuals and households due to the profit motives of retailers and, more importantly, the difficulty in obtaining these items from manufacturers and suppliers. When a retail-tech startup like Duhqa comes into play, the results can be quite dramatic.
Duhqa was founded in January 2021 by four individuals: Victor Maina (CEO), Catherine Masolia, Dudu Moilwa, and Davis Angwenyi. This occurred following the completion of the first stage of product development in 2020. iSupply is a business-to-business (B2B) online marketplace that connects retailers and manufacturers to exchange information about supply chains and distribution technology.
According to CEO Victor Maina during our conversation, he and his team were motivated to launch the solution because they were personally impacted by the problem.
In Africa, where retailers/microstores serving over 490 million people are forced to close their doors and travel 20 kilometers to purchase inventory, we are addressing a major problem." This is due to the fact that large distributors and wholesalers do not deliver to small and medium-sized independent businesses. Because of this, retailers are wasting their valuable time. Furthermore, it results in higher transportation costs for both them and their customers. Finally, they forfeit the revenue that they would have earned had their shop remained open during the holiday season. The result of this is that their businesses will be unable to grow," Victor stated.
With the help of its app, he claims that Duhqa is leveraging technology to optimize Africa's microstores. The startup also provides financing to retailers in addition to inventory management. Instead of making multiple trips to the app, they will be able to restock more items at once, saving time.
At the end of the day, the goal is to make it easier for retailers to stay in their shops and stores and concentrate on their core business functions. These measures will allow them to improve the financial situation of her family.
Sustainable Development Goals award winner x Financial Times
One of the finalists in the Financial Times Sustainable Development Goals Challenge, Duhqa, was recently announced. Entrepreneurs in the early stages of their business development, as well as entrepreneurs from emerging markets, are eligible to enter the competition.. In order to help the United Nations achieve its Sustainable Development Goals, they will be expected to propose novel solutions to the problems that currently stand in the way of achieving them (SDGs).
Taking home the prize for Reduced Inequalities was Duhqa, the only winner from Africa. That's because they play a crucial role in assisting financially distressed small businesses that sell consumer goods with their procurement and logistics requirements.
In addition, the startup's overjoyed CEO stated that the FT SDG victory is significant because it extends the company's brand outside of Kenya and Africa. In his statement, he stated that Duhqa is committed to addressing inequality and that this will continue to be their focus.
This is an endorsement of the work we're doing in Africa to address inequalities and bring about positive change," says the CEO. For us as an organization, this recognition is extremely meaningful. To be recognized as a force for change in the fight against inequality, which is a massive global challenge, and to have our voices heard on a global stage," the president stated.
The startup, in addition to receiving recognition, Victor stated that it is on track to receive a cash prize of $500,000. To the company's founders, who have been bootstrapping the company since 2020, when they began product development and revenue generation, this is a significant achievement.
He stated that the funds will be used to broaden the startup's reach and accelerate its growth in order to ensure that the impact reaches the greatest number of people.
Longterm plans
Given the fact that Duhqa is still in its infancy but has already shown great promise, there is every reason to believe that the company's future will be prosperous. As with any other technology startup, the founders of this one intend to raise capital, scale, and eventually expand beyond their current market, among other objectives.
Victor Maina, CEO of the startup, says the company has big plans for the future.
Within three years, Duhqa hopes to have expanded its operations to more than ten African countries." The fintech, B2C e-commerce, and cold-chain sectors will also be areas where we innovate, as these are critical solutions for the African market," he continued.
Earlier this year, Techstars seeded the company Duhqa. In the near future, we expect to receive funding for the next stage of the project.
