Glovo to inject 3.5m euros into Ghana’s economy

By InstinctBusiness Oct 20, 2021 0

Delivery service provider, Glovo is embarking on a key expansion drive to ensure that it’s services are available to other parts of the country apart from Accra and Tema.

The initiative is expected to see an injection of 3.5 million euros from the company.

Co-Founder of Glovo, Sacha Michaud, disclosed this to Journalists in Accra during his visit to Ghana to abreast himself with the local operations.

The expansion works is beginning with the opening of Glovo’s operations in the Ashanti regional capital, Kumasi before the end of the year.

Glovo is expected to use the expansion drive to employ more youth and local partners to support the economy.

According Sacha Michaud, the company has identified Ghana as a growing market for the digital delivery business, hence the decision to increase its investment.

The target is to inject about 3.5 million euros into the initiative.

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 stated, the government believes in digitalization especially for the Small and Medium Enterprise 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” Sacha Michaud disclosed.

General Manager of Glovo Ghana, Pearlyn Budu assured that it will increase the use of local materials in its operations as part of the target.

This is aimed at increasing revenue for local artisans in the industry.

“Currently, we have an opportunity to invest more in local materials because for instance, the bags we use in the delivery service is being imported, but we want to transition into local sourcing so that the local producers can also earn something from the operations. So, it’s a part of the long-term growth agenda” she said.

The co-founder as part of the visit is doing some deliveries locally on a bicycle, the new addition to the Glovo services.