#YOUTHMONTH: LUNGA MOMOZA OF BASKET ECOMMERCE, EMPOWERING YOUTH IN SA'S AGRITECH

This Youth Month, we chat with Lunga Hamilton Momoza, co-founder of Basket Ecommerce, a rapidly growing agritech/fintech startup revolutionising South Africa's digital landscape.

Founded in September 2021, Basket Ecommerce digitises the supply chain between fresh produce suppliers, street vendors, and spaza shop traders, offering an online buying platform and marketing hub with 24-hour last-mile delivery.

Momoza, a recent winner of UVU Africa’s Township Tech category, discusses how Basket Ecommerce connects farmers with local communities, drives economic empowerment, and creates opportunities for young individuals.

Tell us about your yourself

I am a passionate tech entrepreneur with a deep-seated commitment to leveraging technology for social good, particularly in addressing pressing challenges, especially in Africa. I thrive on collaboration, recognising the power of working together to create impactful solutions that uplift communities and drive positive change.

My entrepreneurial journey has been fueled by a love for innovation and a desire to make a tangible difference in the world, one problem at a time. By addressing serious and pressing challenges in South Africa and across the continent.

I am a recent graduate from Stellenbosch University with a background in Philosophy, Politics and Economics.

I was born and raised in Cape Town in a town called Samora Machel, an impoverished township just outside central Town. It is a community that is infused by youth unemployment, crime and lack of infrastructure.

It is the very same community that has sparked the entrepreneur in me to equip myself with the necessary tools to pursue entrepreneurship and tech to solve the most pressing challenges of the community I come from and the surrounding communities.

What inspired you to start Basket Ecommerce, and what unique challenges did you face during its early stages

Basket Ecommerce was founded in the Covid-19 era when about 1,3 million informal retailers operating in informal and underdeveloped areas known as townships were facing the everyday challenges of having limited opportunities to more formalised opportunities.

Informal retailers faced several challenges and difficulties such as procurement limitations, lack of working capital, logistics, and mainly the hassle of carrying and operating on heavy cash-based business.

This limits many informal SMMEs from reaching growth because 85% of informal SMMEs in South Africa are not able to access working capital from financial institutions since the majority of informal retailers within South Africa are seen as too risky for financial credit.

How has Basket Ecommerce evolved since its inception, and what key strategies have driven its growth in the competitive e-commerce market?

Recently we launched our Artificial Intelligence feature onto our platform. Our AI feature provides actionable insights to FMCG brands by connecting them with real-time sales and product data from informal merchants in South Africa through a hybrid model of AI and mobile technology to informal merchants.

By leveraging a combination of AI technology and mobile-embedded finance, we collect real-time sales and product data from corner shops and provide actionable insights to FMCG brands. This has empowered both retailers and brands to make informed decisions and optimise their operations effectively.

How does it feel for Basket Ecommerce to be a regional finalist in the Global Startup Awards Africa 2024, and what do you think contributed to your nominations in six categories?

We are thrilled and honoured to be regional finalists in the Global Startup Awards Africa 2024. This recognition across six categories highlights the dedication and innovation our team brings to Basket Ecommerce. Our relentless focus on customer satisfaction, cutting-edge technology, and a passionate team have been key contributors to our nominations.

Can you highlight the innovations and achievements that led to Basket Ecommerce’s nominations for Best Newcomer, Founder of the Year, Startup of the Year, Best Mobility, Fintech of the Year, and Youth Startup of the Year?

We got nominated for the GSA awards due to our innovative integration of AI, which onboarded over 250 informal retailers and established key supplier partnerships.

Basket Ecommerce now provides insights on 500+ products through a network of merchants. Our platform empowers companies monthly with AI-driven strategies for the informal retail market across Africa. By combining AI technology and embedded finance, we have been collecting real-time sales data, offering actionable insights to FMCG brands. This enables both retailers and brands to make informed, optimised decisions.

What has been the most challenging learning curve for you in your career?

The most challenging thing in my career and being a tech founder building technology for a specific market in Africa has been accessing tech talent, strategic mentorship and the necessary investment from investors that are familiar with our target market. Because it is often difficult for investors or corporations to invest in an early-stage startup that is focusing on a market they aren't familiar with because it could be risky for them.

What do you love most about your work?

The reason why I love what I do is because of the people I aim to service and impact with our technology. By being able to provide a technological tool that is able to bank the unbanked and close the financial and digital divide in a country like South Africa and a continent like Africa where there is still a population of individuals underserviced.

Where do you see yourself and your career in five years?

We see our expanding beyond the Western Cape into regions such as Johannesburg and Durban within South Africa and expanding into neighbouring countries such as Namibia, Botswana and Zambia while increasing our tech talent and socioeconomic impact footprint by making a difference in the lives of many merchants.

Why is the agriculture industry a good place for young people, and what opportunities does it offer?

Youth involvement in agriculture and agritech is crucial for driving innovation and sustainability in the sector. Young people bring fresh perspectives and tech-savvy solutions, enhancing productivity and efficiency. By engaging in agritech, they can address global food security challenges and create economic opportunities.

Their impact can revolutionise traditional farming, making it more sustainable and resilient.

What is your message to South Africa's youth this Youth Month?

My advice to fellow young South Africans is to always work smart, and push yourself beyond your comfort and the regular environment because it is through struggles and uncomfortable situations where dedication, determination, creativity and resilience meet which can result in great things happening.

Provided by SyndiGate Media Inc. (Syndigate.info).

2024-06-28T00:05:38Z dg43tfdfdgfd