Food delivery service, Glovo to invest 3.5 million euros in Ghana to increase its operations

October 23, 2021
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Sacha Michaud, a co-founder of Glovo, a food delivery service, has said that the company will invest 3.5 million euros in Ghana this year, according to Business Insider.

According to Sacha Michaud, the company saw Ghana as a rising market for digital delivery, which led to the decision to boost its investment.

Glovo was launched in early 2015 by Oscar Pierre and Sacha Michaud. It is the largest on-demand platform founded out of mainland Europe, having reportedly delivered over 255 million orders.

What they are saying

Sacha Michaud said, “Ghana is a very exciting market not only for Glovo, but other retail business operations moving faster in terms of business growth and also like I said, the government believes in digitalization, especially for the SME sector. So, we found ourselves as a facilitator in this area and ready to inject some more into the Ghana operations.”

“We plan to double our investment in Ghana, and for 2022, we are looking at about 3.5 million euros investments,” he added.

Glovo intends to expand on its success in Ghana, which has been fueled by a constant increase in orders, according to Michaud, with its rapid grocery service being its fastest-growing business.

According to him, the order growth of Glovo Ghana services ranged between 30 and 45 percent month-to-month since the company started operations in Ghana in March this year.

Glovo Ghana’s order growth has been between 30 and 45 percent month over month since the company began operations in Ghana in March of this year, according to Michaud.

“The value of our orders month-on-month stand at half a million euros, and it is envisaged to grow between 1 and 1.5 million euros next year,” he said.

Glovo Ghana has roughly 400 partners in Accra, including pharmacies, grocery stores, electronics stores, and eateries, he said.

What you should know

  • Glovo is the market leader in 80% of the countries where it does business. The company earlier announced its plans to invest up to €25 million ($30 million) to expand its food delivery service.
  • Morocco, Uganda, Kenya, Ghana, Côte d’Ivoire, and Nigeria are among the African countries where it intends to expand to.
  • The Barcelona-based food delivery startup is currently available in more than 40 cities with more than 300,000 users in these countries.

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