OmniRetail, a leading B2B enablement platform focused on digital infrastructure in Sub-Saharan Africa, proudly announces its top position in the Financial Times (FT) ranking of Africa’s Fastest-Growing Companies for 2024. Now in its third year, this ranking highlights the dynamic growth of companies across sectors such as fintech, renewable energy, healthcare, e-commerce, and agriculture.

The FT's list of Africa’s Fastest-Growing Companies showcases innovative and rapidly expanding firms that are pivotal to the global economy in the 21st century. This ranking is produced in collaboration with Statista, mirroring similar initiatives in Europe, Asia, and America.

OmniRetail's inclusion on this prestigious list underscores its exceptional performance and success. Ranked by compound annual growth rate (CAGR) in revenue from 2019 to 2022, OmniRetail achieved an impressive 772.39% growth, securing its position as Africa’s fastest-growing company in 2024.

Deepankar Rustagi, CEO of OmniRetail

OmniRetail's mission is to digitise, optimise, and financially include the existing robust trade ecosystem in Sub-Saharan Africa. The company prioritises partnerships for warehousing, logistics, and asset finance while leveraging retail data for value-added services.

Launched in 2019, OmniBiz is the flagship product of OmniRetail, a distribution platform that digitises the supply chain from distributors to retailers. OmniBiz enables retailers to place orders directly from manufacturers, which are then fulfilled by partner distributors specialising in warehousing and delivered by third-party logistics providers within 24 hours. OmniRetail's collaborative platform also includes tools like OmniPay and Mplify, providing retailers with resources to procure products, build credit, and optimise their businesses.

With over 140,000 small retailers and more than 200 brands onboarded, OmniRetail is redefining the retail industry in Africa.

The OmniRetail Team

Deepankar Rustagi, CEO of OmniRetail, said:

“We’re proud to enter the FT Africa’s fastest-growing list for the first time and even more so to be at the top of the list. This is a tribute to the hard work and perseverance of everyone at OmniRetail. Africa deserves a robust digital infrastructure layered on top of the existing informal retail sector, and we’re proud of the progress we’ve made so far. We are equally proud of our work towards empowering and supporting more retailers previously excluded by the financial ecosystem and those experiencing cash flow issues to enhance their supply chain processes.”

READ ALSO - Senegal's Maad Secures $3.2M Seed Funding for Expansion and New Product Launches

Rustagi added,

“Through OmniRetail, we help retailers grow through our integrated digital infrastructure, providing access to essential goods and capital. We will continue to improve infrastructure for efficient product distribution, envisioning more product variety and efficient distribution to even more remote areas. As a company, we are on a journey to completely eliminate the inefficiencies of traditional trade by digitising the key stakeholders across the value chain.”

OmniRetail's business model revolves around the OmniBiz platform, which digitises the supply chain, while OmniPay processes over $50 million in transactions. The company focuses on high-margin product categories, offering structured rebates and incentives, and optimises delivery van loads using advanced algorithms and decentralised warehousing.

Reflecting strong financial inclusion, 78% of OmniRetail’s retailers and distributors are women, who gain access to banking services, working capital, and digitisation. OmniRetail collaborates with over 4,800 distributor partners and 1,100 committed vehicles, compensating partners based on delivered value. The company recently achieved profitability, with gross margins of 9% and net contribution margins of 5% as of January 2024, and a registered retailer base of 144,000.