This archive report was first published on 18 September 2019.
September 18, 2019, marked a turning point for Kevin Rakama, a 32-year-old entrepreneur who had just quit his job at Homeboyz Entertainment Group to pursue a career as a freelancer.
However, a financial crisis soon hit Rakama, leaving him with no choice but to sell his belongings to make ends meet.
"I had one option left, to sell my carpet," Rakama recalls. "I desperately needed Ksh15,000, but the shylock who valued the carpet at Ksh3,000 was not willing to give me a fair deal."
This experience sparked an idea in Rakama, and he decided to create a platform where people could buy and sell second-hand goods in a fair and transparent manner.
The Birth of Corido Marketplace ¶
After six months of research and development, Corido Marketplace was launched, providing a platform for vendors to sell their goods in bulk to a wider market.
Unlike traditional auctioning, Corido Marketplace offers a controlled environment where buyers can physically see and evaluate the goods before making a purchase.
"We ensure that the buyer gets to physically see and evaluate the goods they want together with an agent. When satisfied, we deliver them to one's doorstep and they can confirm if the assets are in the same condition," Rakama explains.
Services Offered ¶
Corido Marketplace offers a range of services, including online auctions, barter trade, and giveaways. Vendors can also rent and lease items for a fee.
"We also do giveaways. This is where a client who wants to get rid of their goods in bulk come in and ask us to donate them. Either to schools, organisations, business communities among others," Rakama says.
Partnerships and Expectations ¶
Corido Marketplace has partnered with several organizations to ease the disposal of bulk goods with short time returns.
Rakama aims to transform the auctioning industry from traditional to digital, with a goal of having 20-30% of the auctioning operate online in the next three years.
