Online retailer Sky.Garden receives boost from Lipa Later Group
From left: Juliet Wanjiru, Head of e-commerce Sky.Garden, Eric Muli, Group CEO Lipa Later Group and Claudine Gakundi, Country Manager Kenya Lipa Later during the relaunch of Sky.Garden.
What you need to know:
- The firm has also introduced Buy Now, Pay Later, powered by LipaLater as a convenient alternative payment option.
- The relaunch coincided with the rapid expansion of e-commerce markets in Kenya and other African countries.
Online retailer Sky.Garden has received an investment of Sh250 million from the Lipa Later Group, to enable it to incorporate new features into its ecommerce ecosystem.
The new features, which include seamless payment solutions, logistic support, marketing tools, and business insight tools, will enable merchants and buyers to conduct digital transactions with ease.
One of the solutions, Sky.Wallet will empower merchants with access to financing, real-time transaction monitoring, direct bill payments (including utility bills and salaries), seamless deposits and withdrawals to M-Pesa or Bank, as well as the ability to open a bank account.
Another, Sky.Logistics, will facilitate same-day delivery of goods. Recognising the evolving needs of customers, the firm has also introduced Buy Now, Pay Later, powered by LipaLater as a convenient alternative payment option, providing flexibility and ease in transactions.
“In a significant leap forward, we are also thrilled to unveil our foray into social commerce. Sky.Commerce is set to revolutionize the online shopping experience by seamlessly integrating social interactions with e-commerce,” said Juliet Wanjiru, Head of E-commerce Sky.Garden.
Online shopping
The innovative platform will allow shoppers to discover, share, and purchase products directly within their social networks. Merchants on the other hand will be able to reduce their online interactions and make sales all the time from anywhere.
“The Sky.Garden ecosystem encompasses not only the convenience of online shopping but also the infrastructure for local businesses to thrive. Entrepreneurs can build, grow, and expand their ventures within our ecosystem, while shoppers enjoy an unparalleled variety of products, services, and a shopping experience that continually evolves to meet their needs,” noted Juliet.
On his part Lipa Later, Group CEO Eric Muli emphasized that the investment is set to have a twofold impact, as it will help to bring the vast world of e-commerce closer to Kenyans while simultaneously creating opportunities for local entrepreneurs and merchants to thrive.
“Our group vision is to be a commerce catalyst for businesses and communities across Africa. We firmly believe that local ownership and operation are essential in understanding the needs of our people, contributing to the prosperity of our nation, and forging a true connection with our community,” Mr Muli said.
Internet penetration
The relaunch coincided with the rapid expansion of e-commerce markets in Kenya and other African countries, driven by factors such as increased internet penetration and more affordable data costs.
Globally, social commerce is expected to grow three times as fast as traditional commerce to $1.2 trillion by 2025, up from $492 billion currently.
Growing internet access is expected to play a big part in the growth of this space. By 2030, the internet penetration in the region will reach an average of nearly 70 per cent, according to Euromonitor — a considerable jump from 45 per cent in 2023.
Most of the access revolution is due to mobile connectivity with 83 per cent of the African population currently covered by a mobile broadband network, according to GSMA.
