MarketForce, a Kenyan B2B e-commerce company, has recently announced the winding down of its B2B e-commerce business that served informal merchants, commonly known as mom-and-pop stores. This decision comes after a turbulent two-year period, during which the company faced numerous challenges and had to scale down its operations significantly. The shutdown of its B2B e-commerce arm, RejaReja, has been a difficult but necessary step for MarketForce to take in order to refocus its efforts and resources on its core business.
MarketForce’s journey in the B2B e-commerce space has been a rollercoaster ride. The company initially launched RejaReja in Kenya and Nigeria, with the aim of providing a platform for informal merchants to access a wide range of products at competitive prices. The service was met with great enthusiasm from both merchants and suppliers, and it seemed like MarketForce was on the path to success. However, as with any new venture, there were bound to be challenges along the way.
One of the major challenges that MarketForce faced was the lack of infrastructure and logistics support in the markets it operated in. The company struggled to ensure timely and efficient delivery of products to its customers, which resulted in a decline in customer satisfaction and trust. This, in turn, led to a decrease in sales and revenue for MarketForce. Despite its best efforts, the company was unable to overcome these challenges and had to make the difficult decision to withdraw its B2B e-commerce service from all its markets.
The decision to shut down RejaReja was not an easy one for MarketForce. The company had invested a significant amount of time, effort, and resources into building the platform and establishing partnerships with suppliers and merchants. However, in the face of mounting challenges, the company had to prioritize its core business and make the tough call to wind down its B2B e-commerce arm.
MarketForce’s CEO, Tesh Mbaabu, expressed his disappointment at the shutdown of RejaReja but also emphasized the company’s commitment to its core business. He stated, “We are saddened by the closure of RejaReja, but we remain focused on our mission to empower informal merchants through our core business. We have learned valuable lessons from this experience, and we will use them to continue providing innovative solutions to our customers.”
Despite the challenges and setbacks, MarketForce remains a strong and resilient company. The company’s core business, which provides a digital platform for informal merchants to manage their inventory and sales, has continued to thrive. In fact, MarketForce has recently expanded its operations to new markets, including Uganda and Tanzania, and has plans to further expand its reach in the future.
MarketForce’s decision to wind down its B2B e-commerce business is a strategic move that will allow the company to focus on its core strengths and continue to grow and innovate. The company remains committed to its mission of empowering informal merchants and helping them succeed in their businesses. With its strong leadership, dedicated team, and innovative solutions, MarketForce is well-positioned to achieve its goals and make a positive impact in the e-commerce industry.
In conclusion, while the shutdown of RejaReja may be seen as a setback for MarketForce, it is actually a step towards a brighter future for the company. By refocusing its efforts on its core business, MarketForce is poised to achieve even greater success and make a lasting impact in the e-commerce sector. As the company continues to grow and expand, it will undoubtedly face new challenges, but with its determination and resilience, MarketForce is well-equipped to overcome them and emerge stronger than ever before.
