.avif)
Client: Kora Imports Ltd.
Location: Lagos, Nigeria
Type: Medium-sized food importer (container-scale)
Industry Term: Importer
Use Case: Source container volumes of rice and oil more competitively and reliably across borders
Background
Kora Imports Ltd. is a mid-sized importer supplying bulk food products to urban and semi-urban wholesalers across Southwest Nigeria. The company sources 4–6 containers/month of staples like rice, vegetable oil, and sugar — typically through a handful of long-time agents and middlemen based in Dubai and India. As demand increased and local pricing became volatile, their sourcing model began to hurt margins and delivery timelines.
Challenges Before Nowexo
- Opaque Pricing: Depended on agents who added undisclosed markups; no access to comparative origin pricing
- No Supplier Diversification: Over-reliance on 2 suppliers led to stockouts when shipments delayed
- Slow Sourcing Process: Every shipment took 7–10 days of back-and-forth on WhatsApp and email
- Missing/Delayed Documentation: Customs clearance was frequently delayed due to documentation errors
- Lack of Control: They had little visibility on global price shifts, alternative routes, or cost-saving options
What We Did with Nowexo
- Structured RFQ Setup: Mapped container-level needs across 3 months and submitted detailed RFQs for rice and oil
- Verified Offers from Multiple Origins: Received offers from 4 export-ready suppliers in India, Thailand, and Turkey — with full landed cost comparisons (CIF Lagos)
- Spec-Based Selection: Matched offers to Kora’s grain size, packaging, and shelf life requirements, reducing rejections
- Document-Backed Procurement: All offers included COA samples, origin certificates, B/L templates, and inspection readiness
- Forward Buying: Locked pricing on 3 containers of oil to hedge against seasonal price hikes
- Logistics & Document Coordination: Nowexo handled supplier-side paperwork, vessel updates, and buyer-side delivery tracking
Results
- 12–16% landed cost savings on both products across 4 containers
- 2 new supplier relationships established with reliable fulfillment history
- 100% documentation accuracy — no customs delays in 3 consecutive shipments
- Reduced sourcing cycle from 7–10 days to under 72 hours
- Created supply backup strategy by onboarding multi-origin alternatives
- Improved internal reporting and forecasting, with centralized trade documentation
Client Quote
"Nowexo didn’t just connect us — they structured the deal, tracked the goods, and protected our cost. We finally have options and control."
— Managing Director, Kora Imports Ltd.
.png)
.jpg)
.jpg)
%20(1).jpg)
.jpg)
.jpg)
%20(1).jpg)
.avif)
