JustBUY Africa

https://justbuyafrica.com
Progress records
16
Stage of your startup
Users
When did you start
October 2019
City
Accra, Greater Accra Region, Ghana
Definition in 1 sentence
A decentralized e-commerce platform to boost intra
Elevator pitch
2015-2017 total trade from Africa to the world averaged US$760 billion yet 70% are poor. JustBUY Africa wants to change that narrative by connecting producers directly with buyers of African products, not just from outside Africa but within the continent itself. We want to elevate the producers.
Are you incorporated?
Yes
Category
Consumer
Sector
E-commerce & online marketplaces
How do customers use or interact with your product?
Desktop, Mobile/Tablet (iOS), Mobile/Tablet (Android)
Product Demo Video Adress
Video Password
Startup Presentation
Other Documents
Image gallery
Why do you want to attend this program?
I and my team believes this program will give us the needed exposure to sell the African trade story from our own perspective to the world which in turn, can help us gain the needed capital resources to scale up our mission on building Africa's true One Marketplace.
Create Date
Wednesday, August 19, 2020 09:01 (George Lamptey)

Business model

Describe the problem you are solving
JustBUY Africa is interested in boosting the intra-African trade with emphasis on exclusive Made in Africa products using the B2B, B2C and the C2C approach in creating worth for the formal and informal underprivileged manufacturers and producers regionally.

We want to connect African producers and manufacturers directly with buyers not just from outside Africa but within the continent as a whole.
How are your customers solving that problem today?
Customers today are subscribing to higher packages which also does attract extra commission charges per orders (Store setup fees and service fees) at a huge cost which doesn't even guarantee them direct market to their produce.
Being costly, most indigenous producers and manufacturers lose market traction to foreign brands there by causing them the chances of making ends in affording the necessary needs to provide for their families.

That keeps widening the poverty gap further.
Target custormers - Define customers, who are they
Average smart phone users
How do you plan to acquire customers?
Paid advertising. Use of Facebook, Google and others.
What is your revenue model or expected revenue model?
Business-to-Business (B2B) B2B e-commerce refers to all electronic transactions of goods and sales that are conducted between two companies.
Business-to-Consumer (B2C)
Consumer-to-Business (C2B)
Business-to-Administration (B2A)
Consumer-to-Administration (C2A)

Market info

What is your target market?
Our target market is to reach about 362.37 million people across the top ten emerging markets of Africa which includes Ethiopia, Rwanda, Ghana, Cote D'ivoire, Senegal, Benin, Kenya, Uganda, Burkina Faso and Tanzania
What is your total available market size
$ 75,000,000,000
What steps have you taken to validate the market?
We took steps in inviting, and emailed over 100 people we know, who may have shared the same pain. This way, we not only had the initial customers who could provide us feedback on the details of how JustBUY should work, We had the start of an early base of revenue we could use to start growing the product
Do you have competitors? Please write down the names
Competitor name
Competitor website
Jumia Technologies AG
Kamers Makers
Competition: write down competitors and explain
Jumia Technologies AG
https://Jumia.com

They are our most competition because they are already present in most African markets.

They're presently ranked the number one e-commerce platform in the African region.
Who are your competitors and how are you different?
Our competitors currently focuses on "most foreign brands" as most of them ships in products from overseas whilst our core mandate is to provide exclusive Made in Africa products on our main online platform through https://justbuyafrica.com/shop whilst mix content is served on regional country specific store domains eg. https://gh.justbuyafrica.com,
https://togo.justbuyafrica.com etc.

What sets us apart from the competition is our brand strategy on offering exclusive made in Africa products
Traction / KPIs
Title
Value
Search engine marketing
20
Social and display ads
20
Search engine optimization
20
Email marketing
30
Affiliate marketing
5
Business development
5
What progress have you made in the last six months?
We've been able to chalk some success in getting more people within the continent from our current country to partner us in creating the regional country blocks of JustBUY Africa in other to achieve the core mission on setting up Africa's True One Marketplace.

We presently have some pending meetings to conclude on adding more countries to the partnership on attaining the mission of building Africa's biggest marketplace
How many customers/users do you currently have?
150
What is your monthly growth rate?
We are expecting a growth rate of six percentage 6% across selected markerts in six months after launch based on the strategies coined for growth. Presently, Africa e-commerce accounts for 25.8% annual growth rate.
Describe traction
Presently has partnership with major manufacturers and producers of popular African products.

We've expanded our scope to cover all 15 West African countries.

Presently, serving about 80% of the African continent.

Upon popular requests, we expect to boost sales through the introduction of our mobile app for all regions fully integrated with most payment options.

Finance

How much runway do you have left(Month)?
2
How is equity divided?
Equity type
Name surname
Email
Equity
Founder
George Lamptey
% 30
Employee stock option
William Yeboah
% 8
Employee stock option
Jonathan Opoku Asare
% 8
Employee stock option
George Acquah
% 2
Employee stock option
Michael Budu
% 1
Employee stock option
Prince Owusu Koranteng
% 1
Venture Investor
Anyone Else To Come On Board
% 50
How much money raised since start?
$ 6,000
Revenue lifetime
$ 128
Last months revenue
$ 0
Investment round
Seed round
Target fund to raise
$ 2,500,000
Equity on offer
% 5
Number of employees
10
Other info Write bullet points (Grants, prizes, acceleration)
Add more comments

Team

Owner member
Yes
Member role
Founder
Name surname
George Lamptey
Title
CTO - Chief Technology Officer
Education
General Equivalency Diploma
School name
Accra Institute of Technology
Birthdate
05 September 1986
City
Accra, Greater Accra Region, Ghana
Short Bio
I'm a spirited serial entrepreneur with a sober intention of uplifting and projecting the African continent for social and economic gains.

Founded Gasby Group and connected like-minded teams to help inspire the young African to aspire for greatness not for self gain but with a shared motive.
Owner member
No
Member role
Employee
Name surname
Jonathan Opoku Asare
Title
CEO
Short Bio
Jonathan Opoku Asare is a young enthusiastic entrepreneur driven by his passion for technology, management and procurement.
Jonathan holds Bsc Business Administration, Diploma in Business Administration, certificates in Business Administration, Competitive strategy, Leadership and effective Com...
Owner member
No
Member role
Employee
Name surname
Prince Owusu Koranteng
Title
Regional Manager
Short Bio
Prince Owusu Koranteng is an astute graphic designer and website developer by profession with certification from Intercom Programming Manufacturing Company (IPMC).