The partnership is to enhance Intra-African and global trade.
It is centered on facilitating seamless, trustworthy trade processes between sellers and buyers in Africa and across the world.
Mrs Uju Uzo-Ojinnaka, Chief Executive Officer (CEO) TOFA, said that the incorporation of AliExpress and Momo Nigeria was to provide greater access to African made products.
Uzo-Ojinnaka said that it was in alignment with the objectives of the Africa Continental Free Trade Area (AFCFTA).
She said that TOFA, created seven years ago, was to be the Alibaba of Africa, putting African products from food condiments to phone accessories, electronics, clothings and textiles on the global map.
She said that the benefit of the partnership with AliExpress and Momo was that TOFA acted as a trustworthy middleman marketplace,
She said that the company would ensure that buyers and sellers could trade in their different African local currencies.
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According to her, issues with conversion to dollars and lack of trust that accompanied online trading is a thing of the past with the TOFA online marketplace.
“Every African item that can be bought or sold can be traded on this platform and you can just make your purchases and they would be delivered to your home at your convenience.
“This is one more good thing for Africa with a wide array of inventory, and as we unveil it today to drive shopping without borders, we know that the continent is better for it.
“This partnership with AliExpress gives room to over 200 million items available to easily come into the country or anywhere in Africa after making payments in their local currency facilitated by Momo.
“We are confident that this development is beneficial to tradesmen in our local markets from Maiduguri to Abia, to Lagos as we showcase the various registered indigenous items on our platform for the world to see,” she said.
Mr Victor Ejiogu, Front-end Developer, TOFA, said that the platform was not just an e-commerce website but a full marketplace with deals directly with companies, buyers and sellers across the continent and the world.
He said that the problem the platform was trying to solve was the lack of trust in transactions between buyers and sellers and the difficulties people experienced in paying for items on AliExpress.
“In some online transactions, people have had bad experiences trying to buy items and after payments, they get blocked and they are unable to get such items.
“With this platform, it is not like that.
“Until buyer receives the good, we do not make payments to the seller, and we are a trust worthy platform that holds onto the funds until the transaction is completed.
“We have also solved the issue of buying and selling anywhere in the world as the application allows you to make payment in local currencies for goods and services,” he said.
He said that with Momo application onboard, buyers and sellers had automatic access to TOFA, where they can also negotiate.
“Once buyer and seller conclude on price, click on agree and the order is made,” he said.
Mr Usoro Usoro, Executive Director, Strategy, MoMo PSB, said that MoMo’s involvement was in line with its mandate to drive financial inclusion and digital inclusion and connectivity in Nigeria and Africa.
He said that Momo was helping businesses on the platform to make payments in a simple and seamless manner.
According to him, customers on MoMo can simply click on Tofa and pay using the momo account.
“We are trying to build a payment trail for Africa in local currency, and with MoMo, you can send money to about 14 Africa countries in local currency without dollar or foreign exchange hassles.
“Businesses on TOFA have bypassed all the foreign exchange issues and carry transactions on.
“The future for us is to open up all corridors within Africa to send and receive money seamlessly whether at agent or merchant location.
“That is why we are excited to go on this partnership,” he said.
Geoffrey Jian, Director, African Operations, AliExpress, said that Africa possessed immense potentials and opportunities in trade.
Jian said that the platform would further drive business-to-business, business-to-country and international trade running into millions of dollars.
Also, Mr Emeka Nwagwu, Deputy Managing Director, SpeedAF, promised seamless logistics delivery for every good bought online from China on the TOFA online marketplace.
He said that the logistics would ensure that everything is picked up, cleared, warehoused and delivered by SpeedAF with full notification of movements of good from China to Nigeria within 21 days.
