Small businesses operating in Kenya, Uganda and Tanzania manage their sales, inventory, payments and taxes on a single point-of-sale platform.
This follows a deal between payments and financial services provider, Pesapal and RACK which targets to replace written receipts, manual inventory logs and disconnected payment systems which small and medium enterprises in the region are grappling with.
“Ours is not just a partnership, it is a response to one of the most urgent problems faced by businesses in East Africa, ease of starting, running and scaling a business,” said Agosta Liko, Pesapal Chief Executive Officer.
Under the deal, RACK POS solution will cover the full spectrum of business operations, from payments and inventory to petty cash and performance tracking.
According to the International Finance Corporation (IFC), more than 80pc of the 30 million SMEs operating across East Africa still operate informally, relying on paper records, manual inventory checks and disconnected payment systems to transact.
As a result, the manual way of operating has slowed their growth, increased errors, and locked them out of credit and capital opportunities.
Liko says within six months of using RACK POS, SMEs can generate verified transaction history and digital records that will unlock access to business credit from Pesapal, transforming paper-based businesses into credit-worthy enterprises.
“This partnership brings structure, clarity, and visibility to businesses that have operated in the dark for too long. It’s not just about digitization; it’s financial inclusion in motion,” he added.
The RACK POS solution is available on both web and android, allowing business owners to manage operations from anywhere.
“Our cloud-enabled solution is designed to make daily business easier for SMEs, to help them do better record keeping and get a clearer picture of how their business is doing,” said Ferdinand Eloto, Co-Founder and Team Lead of RACK.
Digital records are further expected to help SMEs secure credit and funding to support their growth and expansion.
