Mitsui & Co., Ltd. (Mitsui) is pleased to announce that Mitsui and ETG Global Limited, a company owned by the joint shareholders of ETC Group Limited (ETG, an affiliate of Mitsui), have invested in Kyosk Global Holdings (Kyosk), a technology company that has developed a Business to Business (B2B) digital platform. The Kyosk app provides a link between suppliers and traditional retailers, leveraging smartphone penetration in the African continent.
In Africa, where population growth will lead to expanded consumer participation, Kyosk is projected to have over 300,000 informal retailers registered on the platform by 2024, by providing convenience to informal retailers which are the core of consumer market, by expanding the number of products available through ETG's distribution business in Africa and its powerful network, by providing quick delivery after ordering, and by expanding financial services for informal retailers such as post-payment functions.
For further scaling of Kyosk business, Mitsui will offer strategic support tied to Kyosk's digital transformation and marketing strategy utilizing retail data as well as provide access to potential manufacturers and importers, through its global network, looking to enter the African market.
Mitsui sees huge potential in the Kyosk business as a conduit to reach the African consumer market and an avenue to create real economic impact while supporting entrepreneurship within local communities. Kyosk's growth will contribute to improving incomes, creating jobs and supporting Micro, Small and Medium Enterprises (MSME).
|Official name||Kyosk Global Holdings|
|Country of Registration||Mauritius|
|Number of employees||around 500|
|Business Activities||Developing and Deploying B2B retail digital platform in Africa|
“Build brighter futures, everywhere” as our corporate mission, and to gain the trust and expectations of our stakeholders to realize a better tomorrow for earth and for people around the world, we have identified five material issues (“Materiality”) for Mitsui’s sustainable growth. We anticipate this particular project/ business to contribute especially to the realization of “Secure sustainable supply of essential products” and “Enhance quality of life”
Secure sustainable supply of essential products
Enhance quality of life
Create an eco-friendly society
Develop talent leading to value creation
Build an organization with integrity