The World Economic Forum (WEF) has selected Sokowatch, the East African e-commerce company, among its selection of the 100 most promising Technology Pioneers of 2021. The Kenyan startup is one of the six African companies to make it to the World Economic Forum’s 2021 Technology Pioneers list.
Sokowatch, which currently has over 22,000 active shops across 9 major cities in Kenya, Tanzania, Rwanda, and Uganda, serves informal retailers that the mass market relies heavily on for essential goods.
The World Economic Forum’s Technology Pioneers are early to growth-stage companies from around the world that are pioneering new technologies and innovations, ranging from cell-based seafood protein to quantum-based cybersecurity, digitization of water rights, and use of satellite imaging to measure carbon captured in forests.
What does this mean for Sokowatch as a Technology Pioneer?
With the startup’s selection as Technology Pioneer, Daniel Yu, Global CEO of Sokowatch, will be invited to participate in WEF activities, events, and discussions throughout the year. Sokowatch will also contribute to WEF’s initiatives over the next two years, working with global leaders to help address key industry and societal issues.
“It’s a great privilege to be acknowledged as a pioneer by the World Economic Forum,” said Sokowatch’s Daniel Yu.
Sokowatch, according to Daniel Yu, is continuously looking at how to use technology to transform the supply chain for informal retailers and improve access to goods for the mass market.
“The informal retail sector makes up 80% of total retail but is extremely fragmented; introducing technology has enabled a simplified and seamless process that is slowly turning a traditionally unprofitable market into a profitable one.”
According to Susan Nesbitt, Head of the Global Innovators Community, World Economic Forum, “Sokowatch and its fellow pioneers are developing technologies that can help society solve some of its most pressing issues. We look forward to their contribution to the World Economic Forum in its commitment to improving the state of the world.”
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Meet other WEF 2021 Technology Pioneers
For the first time in the community’s history, over 30% of the cohort are led by women. The companies also come from regions all around the world, extending their community far beyond Silicon Valley. This year’s cohort includes startups from 26 countries, with UAE, El Salvador, Ethiopia, and Zimbabwe represented for the first time.
The diversity of these companies extends to their innovations as well. 2021 Tech Pioneer firms are shaping the future by advancing technologies such as AI, IoT, robotics, blockchain, biotechnology, and many more.
Technology Pioneers were selected based on the community’s selection criteria, which includes innovation, impact, and leadership as well as the company’s relevance with the World Economic Forum’s platforms.
About Sokowatch
Sokowatch is a solutions-based e-commerce platform, using innovative tech to improve the inefficiencies in the supply chain. Sokowatch enables informal retailers to order products at any time via SMS or mobile app, receiving free same-day delivery to their store. And through its data tracking of real-time sales, shop owners are able to purchase goods from manufacturers and distributors at competitive prices based on supply and demand.
With over 22,000 shop owners in its network, Sokowatch is revolutionizing access to essential goods and services in 9 major cities across Kenya, Tanzania, Rwanda, and Uganda.
