Verod-Kepple Africa Ventures (“VKAV”) has announced its investment of US$1.5 million in Chari, a Morocco-based B2B e-commerce company, to support its growth plan.

Simultaneously, Ryosuke (Rio) Yamawaki, Partner at VKAV, has been appointed as a Strategic Advisor to the company, reinforcing their commitment to transforming the informal retail sector and driving economic growth in the region.

Ismael Belkhayat, CEO and Co-founder of Chari expressed his excitement about partnering with VKAV during this pivotal phase of the company’s growth. He stated, “We are thrilled to onboard VKAV as our partner as we establish a cutting-edge and fundamental financial services infrastructure for the mass market in our country. With VKAV’s extensive network across Africa and profound connections with the Japanese corporate society, we believe they will consistently bring value to our endeavours.”

Ryosuke (Rio) Yamawaki, Partner at VKAV, emphasized the firm’s focus on investing in category-defining African start-ups. Yamawaki said, “Chari is uniquely positioned to transform the informal retail sector and redefine the category of informal trade in Africa. We firmly believe that their innovative approach will benefit the local market and serve as a showcase to the rest of the world.”

This investment will provide the necessary impetus to drive the company’s growth plans and further develop its groundbreaking financial services infrastructure for the masses.