- Toggle Market’s B2B BNPL product Toggle Finance is aimed at SMEs seeking trade finance alternatives across multiple industry sectors, and is also available for all qualified customers of its marketplace Toggle Hospitality
- With a growing customer base for its trade, financing and freight & logistics services extending across Europe; the Middle East and in particular the GCC and Jordan; Africa in Kenya, South Africa, Congo, Nigeria; and now all services operational in Rwanda.
- Toggle Market operates and develops B2B e-commerce marketplaces and provides cross-border trade and commerce solutions designed to support SMEs.
Toggle Market announces the launch of Toggle Finance, it’s innovative B2B product aimed at SMEs seeking supply chain trade finance and payable financing alternatives, to its new customer base in Rwanda.
This innovative solution transforms B2B e-commerce by providing SMEs direct access to financing for their operational purchasing needs. Through Toggle Finance, customers can receive a flexible B2B BNPL (Buy Now Pay Later) solution, providing them with an option to pay later, and spread the costs of goods, making it easier to manage their cash flow and increase their purchasing power. To facilitate this service, the company has partnered with international underwriters and private creditors who are sharing the same vision to transform the B2B financing space. This is in addition to the already existing trade and logisitics services available to its customers in Rwanda.
With a growing tourism, agriculture, FMCG and manufacturing sectors, Rwanda has been growing its reputation as a tech-affiliate and forward-looking nation with a vision to elevate to a middle-income service and knowledge-based economy, and has become increasingly attractive for international investors. This growth has been underpinned by a strong investment in infrastructure, with Kigali’s international airport already ranked among the best in Africa, construction is currently underway for a new airport to serve the increased passenger traffic, alongside the country’s unique adoption of sustainability and environmental ethos.
The tourism industry continues to be a cornerstone for the country offering a diverse portfolio of properties from luxury lodges to business hotels. The country in fact has for some time reigned as one of the best kept secrets for luxury destinations for its nature reserves.
In contrast, supply chain challenges remain a constricting reality for businesses in Rwanda. They are facing limited access to finance with high interest rates as well as limited local capital markets.
“Toggle Market’s BNPL solution provides a platform for business buyers sourcing goods from both listed and non-listed suppliers. This gives SMEs greater access to the products and services they need to thrive, without the burden of upfront costs or the need to secure traditional loans,” said Fuad Sajdi, CEO of ToggleMarket.
He added, “We are committed to support growth and development for SMEs and add economic value at each touchpoint in the value chain. With the availability of Toggle Finance in Rwanda, we are making a further step towards our mission to make trade easier and more accessible for businesses of all sizes."
The future of B2B e-commerce is shifting, and Toggle Market is determined to play a leading role in supply chain transformation. As the demands of business buyers evolve, the company through Toggle Finance and its trade marketplaces, such as Toggle Hospitality, will continue to innovate, offering new and improved solutions to meet the changing needs of SMEs across multiple industry sectors based on each country need they operate in.
The Toggle Market team will be attending the Africa Hospitality Investment Forum taking place in Nairobi, Kenya on 12-14 June 2023 where they will be unveiling their new finance product to the hospitality sector in Africa.
About Toggle Market
ToggleMarket is a leading B2B e-commerce marketplace operator and developer, providing businesses with cross-border trade and commerce solutions for non-standard goods. With a mission to make trade easier and more accessible, ToggleMarket offers a range of products and services designed to support SMEs in their growth and development.
Website: www.togglemarket.com | Linkedin: www.linkedin.com/company/togglemarket | Twitter @ToggleMarket | Instagram @ToggleMarket | YouTube Channel | Press Contact: Muna Khogali: email@example.com
Products and Services:
- Toggle Hospitality is a SaaS enabled multi-vendor marketplace and procurement eco-system for hotel furniture, operating supplies and equipment developed and operated by Toggle Market. Toggle Hospitality enables the sourcing of operating supplies, fixtures, furniture and specialist equipment directly from manufacturers. Our eco-systems are engineered to boost efficiency, reduce time, cost, environmental waste and the stress that comes with the complex nature of such multi-vendor cross border transactions. Website: www.togglehospitality.com | Linkedin: www.linkedin.com/showcase/togglehospitality
- Toggle Finance is a B2B buy now, pay later solution that aims to improve the efficiency and security of transactions between suppliers and buyers. It allows suppliers to extend credit to buyers and buyers to purchase goods and services without upfront payments. B2B buyers can now make payments over time, which helps them manage their cash flow and reduce the risk of non-payment. Currently Toggle Finance is available to customers across Europe, the Middle East and Africa.
About AHIF 2023
Attended by the highest calibre international hotel investors of any conference in Africa, AHIF is the leading hospitality investment conference that connects business leaders from the international and local markets, driving investment into tourism projects, infrastructure and hotel development across Africa. This year the event will take place in Nairobi Kenya, 12-14 June 2023
Radisson Blu Hotel Nairobi Upper Hill. Registration is now open.
 “The Future is Digital, Kagame tells UN General Assembly” New York Times, 21 September 2022
 Vision 2050, sets the long term strategic vision of the country and defines “The Rwanda we Want “to see by 2050. Rwanda aims to achieve high Quality of Life for all Rwandans and aspires to become an upper middle-income country by 2035 and a high income country by 2050.
 Bertelsmann Stiftung’s Transformation Index (BTI) 2022, Rwanda Country Report, https://bti-project.org/en/reports/country-report/RWAT
 Kigali International Airport has been ranked 8th best airport in EAC and 7th cleanest on the continent by The Skytrax World Airport in August 2021;
 “Sustainability In Africa: How Rwanda’s Young Innovators Are Building A Circular Economy,” Forbes,
 “How Rwanda became one of Africa's most luxurious (and safest) holiday destinations.” The Telegraph, November 2020- https://www.telegraph.co.uk/travel/destinations/africa/rwanda/articles/luxurious-safest-gorillas-africa/
 International Trade Administration, Rwanda Market Challenges, 07.10.2022