Nigerian B2B eCommerce startup OmniRetail received recognition as Africa’s fastest-growing company from Financial Times with Statista’s data support.
The company reached this major milestone by achieving a compound annual growth rate (CAGR) of 772.39% since 2019 which enabled its revenue to soar from $250,000 to $139.88 million by 2022.
Since its launching in 2019, OmniRetail has expanded its operations to deliver multiple services through its platforms Omnibiz, Mplify, and Omnipay. Over 65,000 retailers throughout Africa receive access to critical eCommerce solutions through these platforms which include seamless product ordering capabilities along with financial services and various credit options such as buy-now-pay-later. OmniRetail has become an industry leader in African retail through its use of technology to streamline supply chain management processes.
The company’s swift ascent to industry leadership shows that digital transformation is revolutionizing Africa’s retail sector through expanded investments and innovative practices. Plus, tchnologically advanced platforms such as OmniRetail play a vital role in transforming Africa’s business space as more businesses and retailers adopt digital solutions.
The Financial Times’ ranking highlighted additional prominent Nigerian enterprises such as Moniepoint and Afex Commodities Exchange which achieved positions among the top five companies.
Without a doubt, Nigeria establishes itself as Africa’s top location for rapidly expanding startups through this development.
This recognition has positioned OmniRetail to draw increased attention from investors and industry authorities which will facilitate its expansion throughout Africa. The company’s ongoing scale-up also positions it to lead eCommerce innovation and make substantial contributions to Africa’s economic development.
UphivaBETAR
Joseph Busari
