In 2014, Tarneem Saeed visited her homeland, Sudan, and noticed the absence of a platform that allowed individuals to access market information or participate in online commerce easily. This observation led her to establish Alsoug in 2015. Her goal was to create a space where anyone, regardless of location or background, could engage in commerce seamlessly.
Alsoug was initially created to provide a platform for checking prices and connecting Sudanese consumers with businesses. By 2016, it had transformed into a comprehensive digital marketplace, addressing the urgent need for a centralised platform where Sudanese firms and people could easily buy and sell goods and services.
The platform featured many listings, including real estate, vehicles, electronics, and job postings. Its user-friendly interface and extensive categories attracted many users, resulting in nearly two million downloads within a few years of its launch.
As the platform’s popularity grew, it faced a significant challenge: the limited payment options available to Sudanese consumers and businesses. Many people in Sudan rely on cash transactions due to restricted access to banking services, which makes trade inefficient and hinders economic growth.
To tackle this issue, Tarneem Saeed quickly expanded the platform into the fintech sector by developing Cashi, a digital payment system designed to facilitate quick, transparent, and secure transactions. Cashi allows users to deposit, withdraw, and transfer funds digitally.
Saeed has disrupted the digital marketplace sector in Sudan and further played a crucial role in promoting financial inclusion through Cashi. She has successfully established the e-commerce platform as a catalyst for economic growth and technological advancement in the country.
In 2021, the platform secured a $5 million investment, marking the first significant foreign venture capital investment into a Sudanese technology company since the lifting of international sanctions. This funding round was co-led by Fawry, Egypt’s leading digital payments company and the country’s first unicorn, alongside a consortium of Western venture capital firms. The technopreneur has successfully built Alsoug to become Sudan’s largest online marketplace, empowering individuals and businesses to participate actively in the digital economy.
Tarneem Saeed also serves as an executive director of the US-Sudan Business Council and sits on the Khartoum Breast Care Centre board, which shows her commitment to economic development and social impact in Sudan.
