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Nigeria’s OmniRetail is targeting countries in Francophone Africa

By our African Marketing Confederation News Team | 2024

B2B e-commerce platform believes the likes of Côte d’Ivoire, Cameroon and Senegal offer better and less volatile growth prospects.

OmniRetail, the Nigerian-based B2B e-commerce platform, has signalled its strategic move into the markets of Francophone Africa by appointing Steve Dakayi as its Country Lead for Côte d’Ivoire.

 

Cote d’Ivoire is the first French-speaking African nation it is targeting. Others in its Francophone expansion strategy include Cameroon and Senegal. 

 

“Dakayi joins OmniRetail after shutting down BetaStore, a B2B e-commerce startup he founded in 2020. The former BetaStore founder has worked in e-commerce for a decade and was commercial and fulfilment lead for Jumia,” reports TechCabal, the African-focused technology publication.

Photo: OmniRetail

 

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.

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    Dr Kin Kariisa

    Group CEO - Next Media

    Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
    With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
    Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

    Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

    Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

    • Other current and previous roles played by Dr Kin Kariisa:
    • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
    • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
    • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
    • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
    • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.