Safaricom (NSE: SCOM ) today officially announced the launch of its e-commerce portal, Masoko.
Masoko (Swahili for ‘markets’) aims to leverage the mobile phone to provide local merchants with unlimited potential to sell their products and services via an online platform.
Users of the platform will be able to access items ranging from groceries to books to auto parts.
“Masoko hopes to unlock the untapped e-commerce market in Kenya by connecting consumers, merchants and vendors to each other using a powerful online portal. We are currently starting with close to 200 vendors offering over 20,000 products,” said Joe Ogutu, Director – Strategy, Safaricom.
Payment Modes on Masoko
Masoko will accept all mobile money payments as well as Visa and MasterCard payments and will have dedicated delivery fulfillment partners such as Wells Fargo and Sendy to provide a seamless customer experience that is versatile, fast and secure.
Safaricom seeks to leveraging the strength and reach of its network, its customer base, and a number of partnerships with vendors, they hope to create a solution that can power the next phase of growth for the Kenyan economy. They also hope to create a universal platform that will connect the smallest of vendors in Kenya to a nationwide market.
Masoko will offer customers access to the very best in tech, fashion, latest trends and everyday essentials at the click of a button through either their mobile phones or computers.
A customer care team will also be available to manage any queries from customers, while a wide-ranging returns policy will ensure that all purchases meet the expectations of the customer.
Safaricom joins this market at a time when smartphone usage in the Kenya is experiencing tremendous growth. Safaricom also come in with a unique advantage of being a telecommunication company.
It remains to be seen how this will play out with already existing players, Kilimall and Jumia . Kilimall International which now operates in Kenya, Uganda and Nigeria. and Jumia, which is owned by German-based technology firm Rocket Internet Operates in 23 countries.
