Nigeria’s OmniRetail is targeting countries in Francophone Africa

It quotes Amber Yadav, OmniRetail Head, Retail Division as saying: “As a company and philosophy, once you have gotten your foot in properly, you start looking into expansions. “We are looking at new geographies that make more sense in Francophone Africa like Cameroon, Senegal, Cote d Ivoire. That is the reason for our expansion.”

Significant growth in the middle class 

Dakayi told TechCabal: “Francophone Africa is very underestimated. “Some of the latest trends we have observed is significant growth in the middle class. This has led to increased purchasing power and new habits in terms of consumption. These are key growth drivers.” 

According to Trendtype, the emerging markets consultancy, Francophone markets have proven to be more resilient to inflationary rises during the past two years because of the currency peg to the Euro. Consequently, consumer spend is under less pressure than in markets such as Nigeria and Ghana. 

“OmniRetail will also benefit from the exit of Wasoko, which had established operations in Senegal and Cote d’Ivoire before retreating in Q2 2023,” says Trendtype. 

The consultancy adds: “OmniRetail is arguably the star performer in online food retail outside South Africa and has garnered recognition as the fastest-growing company in Africa.” 

Founded in 2019, OmniRetail focuses on building digital solutions for Africa’s vast informal retail sector.