Inclusive Digital Commerce

The Catalyst Fund Inclusive Digital Commerce Accelerator supported digital commerce companies building solutions designed to improve the livelihoods and financial resilience of micro and small enterprises (MSEs).


About the program

In Ghana, existing digital commerce solutions tend to exclude informal micro and small enterprises (MSEs), who have been hardest hit by the impact of the COVID-19 economic crisis. As a result, they are unable to leverage digital commerce opportunities to fuel their growth and secure their incomes. The Catalyst Fund Inclusive Digital Commerce Accelerator helped to scale innovative companies that enable informal MSEs in Ghana to reap the benefits of digital commerce solutions, with a goal of spurring the development of the wider ecosystem.

Watch this video to learn more:


Program learnings

Meet our companies

Boost Ghana

Boost Ghana

Ghana | B2B | Digitizing micro and small enterprises

Boost Ghana provides digital solutions to support micro and small enterprises (MSEs) in Ghana and drive efficiency in the distribution of fast-moving consumer goods. They have a range of solutions for SMEs that include stock on demand at a fair price, access to support services, and access to stock advances for merchants to increase order volumes and sell more. For suppliers, they provide direct access to last-mile retail customers at scale, providing critical data and reducing the cost of distribution.

Boost Ghana is part of the Catalyst Fund Inclusive Digital Commerce Accelerator, supported by the Mastercard Foundation, in partnership with MEST.

Learn more.    WATCH VIDEO



Ghana | B2B | Digitizing micro and small enterprises

KudiGo provides a holistic, mobile-based retail management solution for micro and small enterprise (MSE) owners, including inventory management, a CRM, digital payments, and an online storefront, enabling businesses to build a digital footprint and access financial services more easily. They also offer their MSE customers last-mile delivery via partners.

KudiGo is part of the Catalyst Fund Inclusive Digital Commerce Accelerator, supported by the Mastercard Foundation, in partnership with MEST.

Learn more      WATCH VIDEO




Ghana | B2B | Inventory and restocking

Shopa is redefining Africa’s informal retail distribution and supply chain by connecting last-mile retailers with suppliers, and enabling access to stock on cash or credit. Leveraging digital tools and an integrated delivery network, Shopa helps informal retailers to restock and receive delivery within 4 hours, without ever leaving their shop. 





Ghana | B2B | Logistics

Swoove connects e-commerce businesses with accessible logistics services at an affordable price, through its app and USSD short code, while creating opportunities for youth and female entrepreneurs and revenue streams for households. Swoove already partners with MTN and has the potential to be an enabler for the larger digital commerce ecosystem to address logistics challenges.




Ghana | B2B2C | Social commerce

Tendo enables anyone in Africa to sell online with zero upfront inventory – their platform connects dropshippers to wholesalers. The sellers on the platform are able to source products through Tendo and resell items using social commerce tools, such as WhatsApp, arrange delivery and get paid, all through the Tendo mobile app.





Ghana | B2B | Digitizing micro- and small enterprises

OZÉ enables MSEs to become better businesses and better borrowers. Businesses keep digital financial records on OZÉ which in turn provides them with the insights and information they need to make better decisions. This improves their performance and enables them to access much-needed formal credit such as for inventory financing. 97% of high-active OZÉ users were growing, profitable or both.


Partners + supporters

The Catalyst Fund Inclusive Digital Commerce Accelerator was managed by BFA Global. It was supported by Mastercard Foundation, and executed in partnership with MEST in Ghana.


    Express interest


    Which category best describes your company's inclusive digital commerce offering?
    Agricultural ServicesFinancial Services for SMEsE-commerceLogisticsDeliveryStock ManagementWarehousingBusiness Solutions for SMEsMarketplacesOther


    Which option best describes your company's geography?
    Headquarters in GhanaHeadquarters elsewhere, but registered entity in GhanaHeadquarters elsewhere, but partners with license to operate in Ghana Intentions to enter the Ghanaian MarketOther


    Please check boxes that apply to you:
    Your product or service contributes to growth of informal MSEs in Ghana in an Affordable, Accessible, and Appropriate manner (please elaborate)Your company targets informal MSEs in urban, peri-urban and rural areas in Ghana (please elaborate)Your company serves at minimum 30% of women led-microenterprises or workers (please specify exact percentage if possible)

    Product/ service stage

    Please select stage: Initial prototype in limited release (e.g. alpha/beta) or pilotsMVP introducedProduct-market fit achievedCurrently scalingFully matureIn decline /being phased outOther


    Financial Runway

    What funding stage are you at?
    Pre-seedSeedSeries APost- Series AOther

    Youth Focus

    How did you hear about us? (select one below) Social mediaAfrobytesEmailOnline / print newsWord of mouthOther Do you consent to your company being featured in our ecosystem database showcasing digital commerce companies in Ghana? (any sensitive info will be excluded from the database) YesNo Sign up for the Catalyst Fund Mailing List YesNo

    Investment Advisory Committee

    Companies selected for the Inclusive Digital Commerce Accelerator were identified via quantitative and qualitative sourcing research, to determine existing ecosystem gaps and challenges faced by MSEs. Companies were then vetted by an Investment Advisory Committee composed of experienced emerging markets investors and experts in the digital commerce space in the Ghanaian and wider African market.

    Investment Criteria

    Companies who met the following criteria were evaluated for selection


    Preference for companies with current or proven desire to serve informal MSEs


    Proven traction

    Company has already raised a minimum of $100K from investors or is revenue positive, and serving at least 500 customers


    Company has a product in market and is in the scaling stage

    Minimum runway

    Company has 6-12 months of runway


    Company is Ghana-based (or entering the Ghanaian market)

    Product type

    Company is offering solutions across the digital commerce value chain

    Youth focus

    Company primarily serves informal MSEs and workers between the ages of 18-35

    Scale potential

    Company can contribute to the goal of reaching 25,000 additional MSEs within 2 years

    Focus region

    Ghana is making progress in creating favorable conditions for a thriving digital economy, including a new digital financial services (DFS) policy to facilitate access and usage of DFS. However, existing digital commerce solutions exclude informal MSEs due to a lack of: effective digital onboarding mechanisms, MSE financing and interoperability across digital commerce systems.

    We conducted research among retail MSEs in Ghana to better understand how they currently leverage digital commerce.

    Based on this research, in our investment brief, we outline 3 key areas of opportunity where we see potential for innovation in digital commerce to have a meaningful impact on MSEs.