Tanzanian-based Sumet Technologies has secured $1.5 million in pre-seed funding, a major boost for its mission to modernise fast-moving consumer goods (FMCG) distribution across Africa. The funding, a mix of equity and debt financing, comes from investors including the Angel Investors Network (ABAN), Catalytic Africa, and an Egyptian angel syndicate.
Sumet has already built a strong presence across Tanzania’s 26 regions, serving over 6,500 customers. The startup leverages advanced technology to streamline distribution, enabling brands to enter and expand in African markets more efficiently than ever.
Fueling Expansion with Tech and Strategy
CEO Hazem Afify emphasised that the funding will play a critical role in closing distribution gaps and enhancing Sumet’s technology. “At Sumet, we’re tackling one of Africa’s biggest challenges – enabling new brands to enter and thrive in the market,” he stated.
The company plans to use the investment to optimise its operations, expand its product offerings, and grow its team. The goal is to create a seamless, cost-effective ecosystem that supports brands as they scale.
ABAN CEO Fadilah Tchoumba highlighted Sumet’s potential, stating, “Sumet Technologies is revolutionising consumer goods distribution by enabling market penetration for new brands and optimising supply chains across Africa. Their commitment to impact-driven innovation aligns perfectly with our mission to foster ventures that promote sustainable economic growth on the continent.”
