Cokodeal, a major player in Africa’s commodity market, has said it is positioning itself as the centre for commodity export for Africans, using Artificial Intelligence to connect and match real-time buyers across the world with African traders on the platform.
Noting that there are so many opportunities to explore in the international trade space and Africa Continental Free Trade Area, AfCFTA, agreement, Cokodeal.com said it is providing options to interested investors to become partners and shareholders in the company.
This, it said in a statement by its Co-Founders, Mike Dola and Michael Olufemi, will lead to raising of funds and leveraging partners to access larger markets, a plan that is “open to private individuals, business partners and company associates.”
According to Cokodeal, “This funding will help to develop a more robust technology infrastructure for the platform, align its vision and better deliver product efficiently, register 6,000 agents across Nigeria that will help generate real-time trade information and coordinate deals in their local communities.
“This will develop strong collaborations and partnerships with larger organisations locally and internationally, to run digital marketing campaigns globally to drive huge numbers of buyers for its businesses to do bigger and better deals.
“A series-A funding is in the pipeline in an ongoing deal flow with venture capitalists. This fund will allow the company to better compete in the global space, becoming a household name and trading partners across the world.
“Investors and partners would have a great deal of advantage in joining early, as the company becomes very valuable and more attractive to larger investors.”
On the benefits of the partnership, Cokodeal noted that from fashion to agriculture, the continent has seen an emergence of entrepreneurs in recent years creating quality and bringing the best products into the market.
“Although resources abound, inter-trade and intra-trade seems to still be quite limited in the continent.
“The global market is interested in many of these locally-produced goods, but don’t know how to find and reach manufacturers.
“The local producers on their end really have no knowledge of the extent their products could reach and as such still remain in the same spot within weak economies for a long time, which leads to stunted growth.
“Cokodeal has found this sweet spot, taken advantage of the opportunity and is currently filling the gap.
“With technology, we have been connecting commodity traders in Africa to the local and global market effectively, efficiently and quickly since we launched in 2013.”