Nigerian B2B e-commerce startup OmniRetail Tops FT Africa’s Quickest Rising Corporations listing

Nigerian B2B e-commerce startup OmniRetail Tops FT Africa’s Quickest Rising Corporations listing

​​Nigeria’s OmniRetail, a B2B e-commerce startup, is the fastest-growing firm in Africa, in keeping with the Monetary Instances rating of the fastest-growing corporations in Africa. This 12 months’s listing is the third version, and ranks corporations in keeping with cumulative annual development revenues, is dominated by South African and Nigerian corporations.

OmniRetail, a startup based in 2019, grew its revenues by 772.39% in 2022, to $139.8 million. 

Mauritian Kyosk Digital, a B2B platform that connects retailers to FMCG producers, was ranked second at 647.37% CAGR adopted by South African employment companies agency Resourgenix Pty Ltd at 542.65%. The 2 corporations had revenues of $155 million and $33 million respectively.

Moniepoint, certainly one of Nigeria’s greatest fee startups, and commodities brokerage Afex Commodities Change closed out the highest 5 with revenues of $149 million and $415 million respectively.

Of the 125 corporations that made it to this 12 months’s listing, 42 had been South African, 25 had been Nigeria, whereas Kenya and Morocco had 12 corporations every.

This 12 months’s listing continues the dominance of B2B startups on the continent. Whereas 2023’s listing was topped by Afex and Moniepoint, each fintechs, e-commerce corporations had essentially the most slots– highlighting the rising reputation of fashions disrupting retail distribution on the continent. 

On this 12 months’s version, the FT stated that the rating recorded a wider unfold of corporations. The earlier lists had been dominated by international locations that entice the best startup funding­–South Africa, Nigeria, and Kenya.

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