Written by: Brian Herbert
Google is launching a new market information system service in Uganda called Google Trader. It’s a system that allows individuals with cell phones to post buy/sell offers and to obtain information related to farming and health. Because of the buzz surrounding this announcement, I thought it would be worthwhile to mention some competition that has been brewing on the continent for some time now.
Esoko, the rebranding and complete overhaul of tradenet.biz, features many of the same services that will be offered by Google Trader. Esoko is currently partnered with organizations in Ghana and a number of other countries. Less than a year ago, Esoko (TradeNet) was featured on CNN.
Esoko launched as TradeNet about four years ago in Ghana, giving people in the field and in markets a way to connect via SMS. Users sign up for alerts so they can be notified when prices change, or when product becomes available to purchase. Connections that once could not be realized have now been made, thanks to this type of system.
Over the past four years, Esoko has built close connections with people on the ground, collecting market data, meeting with trade groups and helping people to feel comfortable with the way this type of networking works. I think this has been one of the major keys to success. Put simply, the “build it and they will come” mentality doesn’t work. It has truly been a grassroots effort by Africans to get the word out. The entire development team is located in Accra, Ghana and is primarily made up of Africans. I’m unable to avoid the cliche when I say this but, Esoko is a product that has been created by Africans, for Africans.
Besides sharing of market information, there are other tools in the works that, I believe, will make a major impact on traders around the continent. There is no doubt that services like Google Trader and Esoko are going to begin springing up around the developing world. As more of these companies spring up around Africa, hopefully there grows some good competition. In this environment, we will witness some great things happening.
It’s always nice to put a face on the people that Esoko has been working with. The Esoko Blog highlights some of the challenges Esoko partners are facing in countries from Madagascar in the southeast, Sudan in the northeast, Côte d’Ivoire in the west and everywhere inbetween.
There is some more information about Google Trader at the Google Africa Blog and White African.
Disclosure: I’m currently working on contract with Esoko.
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