Ramani, a Tanzanian company pioneering the use of AI in supply-chain financing across Africa has today in Dar es salaam launched a partnership with Stanbic Bank Tanzania on what they term as a financial Market place.
On its X handle, Stanbic Bank announced that the bank and Ramani would announce a Strategic Partnership to revolutionize Domestic Trade.
“Through this partnership Stanbic Bank Tanzania will participate in Ramani’s financial marketplace, providing strong capital to support working capital needs for key value chains that drive domestic trade in Tanzania,” noted the bank
The core of Ramani’s business model is to operate as a wholesaler, supplying micro-distributors who purchase stock from Ramani making repayments within 30 days.
The micro-distributors then use the Ramani app to record their sales and purchases, providing Ramani with valuable insights into that distributor’s sales and the ability to repay within the 30-day period