Driving Growth in the FMCG Sector
In a strategic move to empower small businesses in Africa's fast-moving consumer goods (FMCG) sector, Ghanaian B2B commerce platform Boost has forged a transformative partnership with global payments technology company Mastercard. This collaboration aims to leverage digital payment wallets and embedded supply chain finance to fuel the expansion and success of millions of retail entrepreneurs across the continent.
A Vision for Growth
Established in 2020, Boost has emerged as a trailblazer in the B2B commerce landscape, with a mission to ignite growth for retail entrepreneurs operating in the convenience economy. Through its innovative platform, Boost endeavors to provide essential tools and resources to drive sustainable expansion for businesses of all sizes.
Empowering the FMCG Ecosystem
The partnership with Mastercard marks a significant milestone for Boost and the broader FMCG ecosystem. By offering digital payment wallets and supply chain finance solutions, the collaboration aims to bolster support for distributors, wholesalers, and retailers, enabling them to access vital working capital and streamline operations.
Fostering Financial Inclusion
Mastercard's expertise in digital payments and credit solutions complements Boost's vision of fostering financial inclusion and empowerment. Together, the two entities seek to amplify their impact on micro, small, and medium enterprises (MSMEs) across current and future markets, driving forward Mastercard's mission of building an inclusive digital economy.
The strategic collaboration not only benefits small businesses but also unlocks opportunities for financial institutions to penetrate the micro-retail space. By facilitating the issuance of digital payment solutions, Boost and Mastercard empower merchants to digitize payments and gain easier access to working capital, fueling growth and innovation in the FMCG sector.
Mike Quinn, co-founder, and CEO of Boost, expressed enthusiasm for the partnership, emphasizing its potential to drive transformative value for customers and partners alike. With a proven track record of scaling across emerging markets, Boost is poised to leverage Mastercard's resources to propel its global ambitions and create sustainable economic opportunities.
A Commitment to Innovation
As the partnership unfolds, consumers can expect a broader array of FMCG products and seamless payment experiences. By integrating digital payment solutions, Boost and Mastercard aim to enhance the accessibility and affordability of essential goods, driving positive change in communities across Africa.