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What African B2B e-commerce startups can learn from OmniRetail’s profitable run
Hyperlocal logistics and service partners drive OmniRetail to profitability in a harsh African B2B e-commerce industry.
The premise of digitizing the continent’s mom-and-pop convenience stores and offering various solutions to streamline logistics and procurement processes saw hundreds of millions of dollars flood the segment, particularly during the venture capital boom of 2021. The company says it’s currently profitable dating back to last November, an impressive feat in an industry where startups have struggled to break even and whose conditions are worsened by present currency devaluation issues affecting the cost of FMCG items. Although Rustagi did not provide specific updates on these metrics, he did offer insight into similar ones: OmniRetail now hosts over 144,000 registered retailers on its platform, generating $124 million in annual net merchandise volume (NVM).
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