Startup eyes opportunities

WEB-based trade infrastructure solutions provider Kulies.com says payment processing systems across the continent’s borders need to be fixed to improve the ease of doing business climate, as it eyes opportunities under the African Continental Free Trade Area (AfCFTA).
“Kulies is an African trade infrastructure that helps African businesses to transact business to business. We operate within Africa to sell African products to other African countries.
“We have also been linking African suppliers with global buyers. Our vision is to create an inclusive trade infrastructure that impacts the growth of African suppliers,” Kulies chief executive and founder, Gary Ruwona, said.

“We are present in Zimbabwe, Botswana and Zambia. Our services extend throughout southern Africa and we are taking advantage of and contributing to the AfCFTA. In November, we are expanding into Egypt.”
The company already boasts significant numbers on its platform.
“We assist companies to sell and procure globally. We have more than 2 000 African businesses listed on our platform mainly from Botswana, Zimbabwe and Zambia and a lesser number from Namibia. We have more than
1 000 inquiries coming through the platform,” Ruwona said.
Kulies says participation at international trade fora has offered useful avenues for growth.
“Last year, we were at Global Expo (Botswana) and this saw us setting base in Botswana because of the traction we saw. We also want to partner with important agencies in Botswana such as the Botswana Investment and Trade Centre.
“We have facilitated a range of trade transactions.
“For example, Botswana has been able to sell salt to Zimbabwe and Zambia and Botswana has also been able to buy leather products from Zimbabwe using our platform,” he said.
Kulies believes that the AfCFTA will not only benefit its business but will be a huge catalyst for business growth in Africa.
“AfCFTA makes trade easier through the elimination of many barriers by offering a centralised marketplace. Businesses from across the continent can transact in real time using our platform.”
The company also believes its relationship with entities such as trade development body ZimTrade will help its business grow.
“We work with local boards. For example, in Zimbabwe, we work with ZimTrade. They have relations with every African country in terms of trade.
“They also help us with verifications when trades are happening. That will also benefit the buyers,” Ruwona said.
Kulies emphasised that eliminating payment transaction processing as a trade barrier would be a major victory for trade in Africa alongside lowering the cost of internet access and use.
“There is more that needs to be done. The processing of payment transactions is already a barrier in itself. Processing payments take longer than in other areas.
“The other challenge that we have is that the cost of internet access is still too high in Africa,” Ruwona said.
The AfCFTA is one of the flagship projects of the African Union (AU)’s Agenda 2063: The Africa We Want.
“It is a high-ambition trade agreement, with a comprehensive scope that includes critical areas of Africa’s economy, such as digital trade and investment protection, amongst other areas.
“By eliminating barriers to trade in Africa, the objective of the AfCFTA is to significantly boost intra-Africa trade, particularly trade in value-added production and trade across all sectors of Africa’s economy,” the AU said in a note.
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