Nigeria - Business creation project

Describe your project or startup in a few words

My project aims to enhance transnational trade across the African continent by addressing and alleviating the fears and uncertainties associated with cross-border transactions.

01.01 Describe your project in more detail

My project aims to streamline the procurement process within the African continent by helping buyers find the right vendors, ensuring the accurate delivery of specified products, and facilitating secure transactions. We will create a platform powered by Artificial Intelligence (AI) to efficiently match buyers with suitable sellers. Additionally, we will employ freelance ground agents in the vendor's country to negotiate on behalf of buyers, ensuring favorable terms. The platform will also support seamless payment processing to guarantee that the agreed price is paid, ensuring trust and reliability in the buying and selling process. For instance, a Nigerian retailer needs high-quality textiles from Kenya. Using our AI-powered platform, they quickly find a reputable Kenyan vendor. Our freelance agent in Kenya verifies the product quality and negotiates favorable terms. The platform processes the payment securely, ensuring the retailer pays the agreed price.

01.02 What is the main problem you are trying to solve?

The main problem this project is trying to solve is the inefficiency and lack of trust in the procurement process within the African continent. By providing a platform that matches buyers with suitable vendors using AI, and employing local agents to facilitate negotiations and transactions, the project aims to ensure accurate product delivery, secure payments, and overall reliability in cross-border trade.

01.03 Tell us the major benefits and/or advantages of using the product/service that your project intends to provide (at least 3).

Our project offers several key benefits to streamline the procurement process in Africa: 1. Efficient Matching: By utilizing AI, our platform quickly connects buyers with the most suitable vendors, reducing the time and effort required to find the right suppliers. 2. Accurate Deliveries: By employing freelance ground agents to negotiate and verify product specifications in the vendor's country, we ensure that buyers receive precisely what they ordered. 3. Secure Transactions: The platform facilitates seamless and secure payment processing, guaranteeing that the agreed price is paid, thereby enhancing trust and reliability in the procurement process. These advantages collectively improve efficiency, accuracy, and security in procurement within the African continent.

01.04 Please describe who exactly your project is aimed at serving. Who are the targeted beneficiaries?

Our project primarily serves businesses across the African continent that engage in procurement activities. Targeted beneficiaries include: 1. Small and Medium Enterprises (SMEs): These businesses often lack the resources to navigate complex procurement processes and will benefit from streamlined vendor matching and secure transactions. 2. Large Corporations: Companies looking to optimize their supply chains will gain from accurate product deliveries and reliable vendor negotiations. 3. Government Agencies: Public sector entities can enhance their procurement efficiency, ensuring transparency and cost-effectiveness. 4. Vendors and Suppliers: Sellers gain access to a broader market and can establish trust with buyers through our platform's secure and transparent processes. By addressing the needs of these groups, we aim to enhance overall procurement efficiency, accuracy, and trust within the African continent.

01.05 When did you start working on your project?

2023-10-10

01.06 How many other partners are associated with your business venture?

0

01.07 Among the other partners, how many are female?

0

01.08 Please describe the profile of each of the other partners (skills, experience, etc.)

There are no other partners.

01.09 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link here:

https://www.linkedin.com/in/samuel-gbenga-918525182

01.10 Which industry best describes your project?

c) Industry (equipment, commercial, logistical and professional services, transport)

02.01.01 My project contributes to the No poverty goal

6

02.01.02 No poverty - Justification

My project contributes to the no poverty goal (SDG 1) by enhancing economic opportunities and financial security for both buyers and sellers within the African continent. By streamlining the procurement process, our AI-powered platform helps businesses find reliable vendors and ensures accurate product delivery, thus fostering trust and reliability. Employing freelance ground agents supports local employment and empowers communities by generating income and improving negotiation outcomes. Secure payment processing reduces financial risks, allowing businesses to thrive. For example, a Nigerian retailer needing high-quality textiles from Kenya can quickly find a reputable vendor through our platform, while our agent ensures product quality and negotiates favorable terms, ensuring the retailer pays the agreed price. This efficient, reliable, and secure system promotes economic growth, job creation, and poverty reduction across the continent.

02.02.01 My project contributes to the Zero hunger goal

5

02.02.02 Zero hunger - Justification

My project contributes to the zero hunger goal (SDG 2) by improving the efficiency and reliability of the procurement process within the African continent, particularly for agricultural and food-related products. By leveraging an AI-powered platform, we match buyers with suitable vendors, ensuring timely and accurate delivery of goods. Freelance ground agents verify product quality and negotiate favorable terms, reducing the risk of poor-quality supplies and ensuring fair prices for both producers and buyers. For example, a Nigerian retailer can efficiently source high-quality Kenyan agricultural products, verified by local agents and secured through seamless transactions. This enhanced procurement system reduces food waste, supports local farmers, and ensures a consistent supply of nutritious food, thereby contributing to food security and the alleviation of hunger across the continent.

02.03.01 My project contributes to the Good health and well-being goal

5

02.03.02 Good health and well-being - Justification

This project supports the good health and well-being goal (SDG 3) by enhancing economic stability and access to essential goods. By streamlining the procurement process within Africa, the platform ensures that buyers can efficiently find trustworthy vendors and obtain high-quality products. This minimizes delays and discrepancies in the supply chain, which is crucial for sectors like healthcare where timely access to supplies can directly impact health outcomes. The use of AI to match buyers with vendors, coupled with on-ground verification and secure payment processing, fosters trust and reliability, reducing economic stress for businesses. The platform's comprehensive approach not only boosts local economies but also supports livelihoods, contributing to overall health and well-being by providing stable, reliable access to necessary goods and services.

02.04.01 My project contributes to the Quality education goal

4

02.04.02 Quality education - Justification

N/A

02.05.01 My project contributes to the Gender equality goal

5

02.05.02 Gender equality - Justification

This project contributes to the gender equality goal (SDG 5) by creating opportunities for women in several ways. First, it enhances economic empowerment by enabling women entrepreneurs and vendors to access broader markets across the African continent. By using AI to match buyers and sellers, the platform can identify and promote women-owned businesses, giving them visibility and access to new clients. Second, employing freelance ground agents includes opportunities for women to participate as agents, providing them with flexible employment and income. This platform also ensures fair and transparent transactions, reducing the risk of exploitation, which disproportionately affects women. By facilitating secure and reliable procurement processes, the project supports women's economic activities and promotes their equal participation in commerce, contributing to the overall objective of gender equality.

02.06.01 My project contributes to the Clean water and sanitation goal

2

02.06.02 Clean water and sanitation - Justification

N/A

02.07.01 My project contributes to the Affordable and clean energy goal

5

02.07.02 Affordable and clean energy - Justification

My project contributes to the Affordable and Clean Energy goal (SDG 7) by enhancing the efficiency and transparency of procurement processes within the African continent. By leveraging Artificial Intelligence (AI) to match buyers with suitable sellers, we reduce the energy and resources typically expended in traditional procurement methods. Additionally, employing freelance ground agents ensures product quality and favorable terms, fostering trust and encouraging more widespread adoption of clean energy technologies. By facilitating secure and seamless transactions, our platform reduces the risk and uncertainty that often accompany international trade, particularly in emerging markets. This increased efficiency and reliability can help drive down costs, making clean energy solutions more accessible and affordable, thereby supporting the overall goal of providing affordable and clean energy for all.

02.08.01 My project contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification

My project aims to streamline procurement in Africa, supporting SDG 8 by enhancing decent work and economic growth. We will create an AI-powered platform to match buyers with suitable vendors, ensuring accurate product delivery and secure transactions. By employing freelance ground agents in vendor countries, we facilitate negotiations and secure favorable terms for buyers, promoting fair and ethical work practices. The platform's seamless payment processing guarantees trust and reliability in transactions. For example, a Nigerian retailer needing textiles from Kenya uses our platform to find a reputable vendor. Our agent in Kenya verifies the product and negotiates terms, while the platform ensures secure payment, fostering economic growth and decent work in both countries. This project empowers local businesses, creates job opportunities, and fosters cross-border trade, contributing to sustainable economic development.

02.09.01 My project contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification

My project contributes to the Industry, Innovation, and Infrastructure goal (SDG 9) by revolutionizing the procurement process in Africa. It leverages AI to match buyers with suitable vendors, ensuring accurate delivery of specified products and secure transactions. By integrating freelance ground agents, we enhance trust and reliability through local negotiation and product verification, ensuring favorable terms for buyers. The platform also streamlines payment processing, guaranteeing the agreed price is paid securely. This innovation fosters efficient trade, enhances market access, and strengthens infrastructure by building a reliable and transparent procurement network across the continent. For example, a Nigerian retailer can swiftly find and secure high-quality textiles from a reputable Kenyan vendor through our platform, with local agents ensuring product quality and favorable terms, thus facilitating seamless and secure transactions.

02.10.01 My project contributes to the Reduced inequalities goal

6

02.10.02 Reduced inequalities - Justification

This project significantly contributes to the Reduced Inequalities goal (SDG 10) by leveling the playing field for businesses across African countries. By streamlining the procurement process, it enhances access to markets for vendors who might otherwise be marginalized due to lack of visibility or resources. The AI-powered platform ensures equitable matchmaking between buyers and sellers, breaking down traditional barriers to market entry. Employing local freelance agents promotes inclusive economic growth by creating job opportunities and leveraging local expertise. Secure payment processing fosters trust and financial inclusion, ensuring fair and transparent transactions. This integrated approach supports equitable economic opportunities, reduces disparities, and fosters regional cooperation within the African continent.

02.11.01 My project contributes to the Sustainable cities and communities goal

4

02.11.02 Sustainable cities and communities - Justification

N/A

02.12.01 My project contributes to the Responsible consumption and production goal

4

02.12.02 Responsible consumption and production - Justification

N/A

02.13.01 My project contributes to the Climate action goal

5

02.13.02 Climate action - Justification

My project significantly contributes to the climate action goal by reducing the environmental impact of procurement processes. By streamlining transactions and eliminating unnecessary intermediaries, carbon emissions associated with transportation and logistics is minimised. Efficient matching through AI reduces search time, leading to fewer idle shipments and lower fuel consumption. Additionally, by facilitating secure transactions, our platform promotes trust, reducing the likelihood of fraudulent activities that can harm both businesses and the environment. Finally, employing local freelance agents fosters regional economic growth, reducing the need for international trade and its associated carbon footprint. Overall, my project promotes sustainable practices in procurement, aligning with the SDG's climate action objectives.

02.14.01 My project contributes to the Life below water goal

2

02.14.02 Life below water - Justification

N/A

02.15.01 My project contributes to the Life on land goal

1 - Strongly Disagree

02.15.02 Life on land - Justification

N/A

02.16.01 My project contributes to the Peace justice and strong institutions goal

2

02.16.02 Peace justice and strong institutions - Justification

N/A

02.17.01 My project contributes to the Partnerships for the goal

6

02.17.02 Partnerships for the goal - Justification

My project contributes significantly to SDG 17: Partnerships for the Goals, which aims to strengthen global partnerships to support and achieve the ambitious targets of the Sustainable Development Goals. By creating a streamlined procurement platform for African buyers and sellers, my project fosters collaboration and partnerships across borders. It facilitates trade and economic growth by connecting buyers with suitable vendors, thereby promoting sustainable development and fostering economic partnerships among African nations. Additionally, by employing freelance agents to negotiate and ensure quality, my project enhances trust and reliability in cross-border transactions, further supporting the goals of SDG 17.

05.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

3

05.02 The product/service we envision creating represents an entirely new type of product/service.

6

05.03 The product/service we envision creating could be described as a new technology.

6

05.04 The product/service we envision creating is an improvement on an existing product or service.

7 - Strongly Agree

05.05 The product/service we envision creating could be described as an extension of a range of products or services.

7 - Strongly Agree

05.06 The product/service we envision creating responds to a demand or need that has not been satisfied by other products/services.

7 - Strongly Agree

05.07 The product/service we envision creating is a new version of an old product/service.

7 - Strongly Agree

05.08 Justification

My project aims to revolutionize procurement across the African continent by leveraging Artificial Intelligence (AI) to match buyers with the most suitable vendors efficiently. By integrating freelance ground agents in vendor countries, we ensure accurate product delivery and favorable negotiation outcomes. This unique approach combines cutting-edge AI with local expertise to provide a seamless and trustworthy procurement experience. Additionally, our platform's secure payment processing guarantees that transactions are conducted reliably, building trust between buyers and sellers. For example, a Nigerian retailer can swiftly find a reputable Kenyan textile vendor, have the product quality verified, negotiate terms through our local agent, and complete the transaction securely, ensuring the best possible deal. This blend of technology and local presence sets our project apart, addressing the specific challenges of procurement in Africa.

05.09 Who are your main potential competitors and what makes you stand out from them?

Main potential competitors include: 1. TradeDepot: Connects international buyers with African suppliers, but lacks AI-driven matching and local negotiation agents. 2. Jumia: Large e-commerce platform offering procurement services, but it doesn’t focus specifically on B2B procurement or use AI for matching. 3. VConnect: Provides a marketplace for services and products but does not emphasize secure transactions or AI-based matching. 4. Alibaba: Global reach with a robust B2B platform, yet may not focus on local African market intricacies or employ local negotiation agents. What makes me stand out: 1. AI-Powered Matching: Efficiently pairs buyers with suitable sellers, enhancing accuracy and speed. 2. Local Negotiation Agents: Ensures product quality and favorable terms by leveraging on-the-ground expertise. 3. Secure Payment Processing: Facilitates trust and reliability by guaranteeing the agreed price is paid, mitigating transaction risks. 4. Focus on African Market.

10.06 Are you initiating actions within your community to promote the role of female entrepreneurs?

Yes, I am initiating actions within my community to promote the role of female entrepreneurs by: 1. Showcasing Success Stories: Highlighting successful female entrepreneurs from the community through social media, local events, and community newsletters to inspire others. 2. Support Groups: Creating peer support groups where women can discuss challenges, share resources, and provide mutual encouragement. 3.Networking Events: Organizing events where female entrepreneurs can connect, share experiences, and form collaborative partnerships.