FINANCIAL technology start-up Ramani has attained remarkable success after disbursing over 100 million US dollars (about 250.5bn/-) in loans to micro-distribution centres.
Speaking on behalf of Ramani CEO, Mr Iain Usiri, said that success has been attained in the two and a half years up to the year ending July this year and that he hopes to increase efficiency by providing services in modern ways with a high level of professionalism.
“What we have done isto build software that micro-distribution centres can use to manage their operations. This means a distributor can keep track of where their salespeople are going, who they are selling to, how much they are selling, how much inventory you still have in your warehouse, and much more. The app then helps you track all that data in real time,” said Usiri.
He said the tremendous growth is a testament to the operational excellence of Ramani’s model, fulfilling a significant demand in the market for both technological solutions and flexible financing.
“With the strong backing of Y-Combinator and a foothold in the Tanzanian market, Ramani’s future looks promising. The impact of Ramani extends beyond the confines of the fast-moving consumer goods (FMCG) sector. It offers a blueprint for how thoughtful technology integration and inventive financing can dismantle traditional barriers to growth and unlock potential across various industries,” he said.
He said as they continue to expand and refine their offerings, they promise to remain at the forefront of the digital revolution, catalyzing a new era of growth and opportunity for Tanzanian entrepreneurs and beyond.
“In a world where technology is increasingly becoming the great equalizer, Ramani stands out as a beacon of innovation, proving that with the right tools and vision, even the most traditional markets can be transformed. Our success serves as an inspiring example of how technological innovation can drive economic growth and empower local businesses in emerging markets,” he said.
He explained that in the bustling markets of Tanzania, a technological revolution is taking shape, transforming the way FMCG resellers operate.
“Ramani, a Y-Combinator-backed start-up and Series A, is leading this charge with a unique blend of software solutions and inventory financing that is rapidly reshaping the FMCG landscape.”
Founded with the aim of automating and digitizing the fragmented operations of the FMCG sector, Ramani provides resellers with proprietary financial technology software to streamline their operations. Their integrated platform covers every aspect of the business, from procurement to warehousing and point-of-sale (POS) services, ensuring a smooth and efficient workflow.
This innovative solution offers an unprecedented level of control and visibility into the day-to-day activities of resellers, allowing them to make informed decisions and optimize their strategies.
“One of Ramani’s standout features is the provision of inventory financing. By financing inventory purchases on behalf of resellers, Ramani enables businesses to bypass traditional financial barriers and focus on what they do best: sales and growth,” he said.
Resellers are able to purchase unlimited inventory through Ramani’s inventory financing system, a feature that liberates them from the financial constraints that typically hamper growth in the industry. This fresh approach to funding has led to a seismic shift in market dynamics, enabling small and medium-sized businesses to compete on an even playing field with larger corporations.