Africa is estimated to have over 45 million operational small and medium-scale enterprises. These businesses power the economy of the continent, contributing about half of the continent’s GDP and providing 90% of jobs on the continent. However, most SMEs in Africa remain undigitised, operating with crude business processes that pave the way for early deaths. For context, 5 out of 7 SMEs fail within their first year of operation.
Fiber, a Nigerian-based solution to digitising SME operations was conceptualised to solve this problem by providing SMEs with a suite of solutions that will help them optimise their business processes. With a vision to be the operating system for SMEs in Africa, the company is plugging itself into the African SME ecosystem and rolling out solutions to meet specific pain points of its target market—starting with an inventory and sales management solution.
Fiber’s go-to-market product, an app that allows SMEs to record inventory and sales, was…
