A NEW online marketplace for black businesses has launched in the UK.

Wakuda is enabling consumers to find and support black-owned businesses through their platform, which already has nearly 100 partners trading through it.  

Black-owned business owners can list and promote their products, ranging from beauty items, food and drink to everyday household essentials, on the platform, which aims to rival Etsy.

Wakuda is the brainchild of Albert Larter and Nathaniel Wade, both 29 years old, who founded the start-up after noticing a shift in focus to “black economics” as a way of supporting the black community following the resurgence of the Black Lives Matter movement.  

Black, Asian and minority ethnic spending power is estimated to amount to £300 billion. 

Larter said: “Following the events in the USA that led to the Black Lives Matter movement and the worldwide protests – we saw a spike in people wanting to see how they could support Black business owners. That’s a part of the reason how and why we started Wakuda here in the UK.”

Wade added: “We are aware through our own personal experiences how difficult it is for black business owners to get funding to start or support their businesses in the UK.

“Wakuda gives them a safe space to quickly launch their business and tap into a ready market of shoppers who want to support black-owned enterprises.” 

As part of the launch, new customers get a 20 per cent discount when they first shop on Wakuda.