Despite the prevalence of shopping malls and the emergence of VC-backed e-commerce companies like Jumia, informal retail in Africa is still king.
A 2016 study by PwC states that 90% of sales in Africa’s major economies come through informal channels — markets and kiosks.
This presents a large market ripe for digitization, and over the past five years, African startups have risen to the challenge, raising millions of dollars in the process. Today, Omnibiz, a Lagos-based startup, joins the fray and has raised a seed round of $3 million to expand into new markets.
Omnibiz is a B2B e-commerce platform that connects fast-moving consumer goods (FMCGs) manufacturers to
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