The Nairobi-based smart addressing app, Okhi, launches its operations in Africa’s biggest market, Nigeria, with an aim to tackle postal address-related infrastructural issues alongside strategic investment and partnership with Interswitch Group.
The business partnership follows series of earlier investments from Founders Factory Africa and Asian venture capital firm Betatron, with Interswitch being a strategic partner as Africa’s largest banking platform fostering the organization’s expansion plans in Nigeria.
Postal addressing infrastructure issues have been identified as a major challenge faced by businesses and affecting the economy in Nigeria from its impact on business efficiencies and huge capital consumption.
Following a successful launch in Kenya, Okhi intends to replicate its efforts that resulted in a 20% reduction in delivery costs and a 20% reduction in delivery times for Kenyan businesses in Nigeria.
Founder, Timbo Drayson explained that “OkHi gives addresses not only to places but also to people. From e-commerce businesses to banks and emergency services, our technology enables people to be included in accessing the services they need and deserve.”