Vendease, a rapidly growing and leading Nigerian food tech company, has announced the appointment of Mohamed Chaudry as its new Chief Financial Officer (CFO).
This strategic move, according to a press statement signed by Olga Balangala, signals the company’s commitment to scaling its operations amid an aggressive growth trajectory and ongoing fundraising efforts.
Founded in 2019, Vendease has quickly emerged as a transformative force in Africa’s food procurement landscape, particularly in Nigeria and Ghana. The company’s platform leverages advanced technology to streamline the food procurement process for businesses, offering features such as real-time inventory tracking, predictive analytics for demand forecasting, and automated reconciliation systems. These innovations not only reduce operational costs but also minimise waste and boost overall productivity for its clients.
Vendease is at the forefront of revolutionising the food industry in Africa through cutting-edge foodtech solutions.
Beyond procurement, Vendease has also ventured into financial services, providing tailored solutions like Buy Now Pay Later (BNPL) options. This service allows businesses to manage cash flow more effectively, offering them the flexibility to pay for supplies over time while also accessing credit facilities designed specifically for the food industry. This approach has been instrumental in helping over 4,000 African businesses save more than $12 million in procurement costs, while Vendease itself has deployed $72 million in credit to fuel the growth of its clients.
By simplifying procurement processes and improving financial access, Vendease empowers food businesses to achieve sustainable growth. The company is also dedicated to addressing climate change, ensuring that every step in the food supply chain contributes to a sustainable future.
Tunde Kara, CEO of Vendease, expressed enthusiasm for the company’s future, stating, “We are thrilled about the next phase of Vendease’s journey. Our fundraising effort will enable us to scale our operations and introduce groundbreaking solutions that redefine how businesses procure food supplies.”
The appointment of Chaudry, who brings over two decades of experience to the role, signals Vendease’s intent to solidify its financial strategies as it prepares for further expansion.
Chaudry’s impressive track record includes significant achievements during his tenure as Group CFO at Foodhub, where he was instrumental in scaling operations across eight countries and driving substantial revenue growth. His experience in securing multi-million-dollar funding and leading market expansion initiatives at SeaJet further bolsters his credentials.
In his new role at Vendease, Chaudry will focus on driving innovation and enhancing operational efficiency in food procurement across Africa.
Commenting on his appointment, Chaudry said, “I am excited to join Vendease at such a pivotal moment. The opportunity to contribute to the company’s expansion and innovation in the foodtech space is truly inspiring. I look forward to working closely with the team to drive sustainable growth and deliver exceptional value to our customers.”
Vendease’s journey from a startup to a key player in the foodtech industry reflects its dedication to leveraging digital technology to optimise procurement processes while fostering sustainable practices. As the company continues to expand, it remains committed to addressing broader challenges, such as food inflation and waste, and to ensuring that its operations contribute positively to a sustainable future.
For stakeholders, investors, and industry partners, Vendease’s progress offers a glimpse into the future of food procurement in Africa—one where technology and sustainability go hand in hand.
