East Africa’s leading digital logistics firm Amitruck has partnered with IMFact, a Smart Finance alternative to traditional Kenyan lending banks for small to medium business enterprises (SMEs) operating in the supply business chain, to improve the logistics ecosystem in Africa, according to media reports. This partnership will help Amitruck increase its financial stability and optimise the working capital which negates overhead cost constraints and other long payment cycles.
Derrick Lwatati, IMFact Commercial Director told the media, “IMFact offers clients the ability to grow their business by turning their debtor portfolio immediately into cash.” He further added, “We have affiliated with Amitruck because of their innovative approach to solving the inefficiencies in the logistics sector.”
IMFact is a pan-African non-deposit-taking financial institution founded in 2019 and it offers supply-chain financing working capital for SMEs. The company also provides a fintech factoring solution that is responsive and flexible that helps meet the financial needs of the client.
IMFact has previously received early-stage grant funding from the Rockefeller Foundation and Convergence along with support from FDS Africa Investments and Total Impact Capital Advisors, which is also behind the funding of the Kenya regional hub.
In other news, Kenyan tech-logistics startup Sendy has recently invested in Kamtar, a Francophone logistics platform to speed up its next phase of the business by launching operations in West Africa. The company also plans to expand its presence beyond East Africa. Sendy will use its technology, expertise, and a broader range of service to help bolster Kamtar’s capabilities in Cote d’Ivoire and Senegal, where it currently operates.