Tech

Nigeria’s equity fund startup, Aruwa Capital invests in OmniRetail

Published

1 year ago

June 19, 2023

Nigeria’s early-stage growth equity impact investment company, Aruwa Capital Management has announced a massive investment in salesforce automation software company, OmniRetail, popularly known as OmniBiz.

OmniRetail is a tech-first B2B e-commerce company that aggregates end-to-end retail operations to help manufacturers, distributors, logistic partners, and retailers achieve their business goals through a seamless supply chain framework and embedded finance with operations in Nigeria and Ghana.

Founder and Managing Partner of Aruwa Capital, Adesuwa Okunbo Rhodes, who made the announcement in a statement, said the investment would help the two companies achieve their market deepening and expansion plans to solve even more challenges faced by players in the retail distribution value chain.

“We are excited to have completed this investment in Omniretail. We find the technology stack of the Company very impressive as they have created different interconnected technology solutions that are addressing real-life challenges in the retail value chain in Africa,” she said.

“We think this technology stack will in the long-run play a major role in the Company’s network-effect strategy in the FMCG value chain in Africa. We are also impressed with the depth and robustness of the Company’s supply chain operations, that is powering the e-commerce segments.”

Deepankar Rustagi, the CEO of OmniRetail, on his part said:

“We are happy to partner with Aruwa Capital on this exciting journey as we approach our next phase of growth.

“We believe having Aruwa as shareholders will be instrumental to our growth as the team at Aruwa Capital have shown their dedication to providing strategic support that is instrumental to us becoming the growth engine of traditional retailers in Africa.”

Click to comment

Tech

Ghana partners with The Gambia to provide free roaming services

Published

2 days ago

November 21, 2024

Isaac Dachen

Ghana and The Gambia are in the process of launching free roaming services that will enhance a West African connectivity.

The plan which is a joint initiative of the Ghana Ministry of Communications and Digitalisation and The Gambian National Communications Authority (NCA) will see mobile users in both countries avoiding extra charges for calls, texts, and data, which in turn, is expected to boost trade, tourism, and economic integration across borders.

The collaboration, according to a joint statement by the two bodies, aligns with the Economic Community of West African States’ (ECOWAS) broader push for seamless regional communication.

“Ghana and The Gambia are forging new paths in West Africa’s digital landscape, implementing a free-roaming initiative,” the statement said.

“This move strengthens regional connectivity while highlighting the role of technological collaboration in fostering economic integration. The initiative enables mobile users travelling between the two nations to make calls, send messages, and use data services without additional roaming fees.”

It further noted that by reducing these costs, the program aligns with the ECOWAS Free Roaming Initiative, which seeks to eliminate barriers to communication across member states.

“It is a boost for trade and travel as the free roaming plan is expected to spur economic activities by streamlining cross-border communication.

“Businesses and individuals travelling between Ghana and The Gambia can now stay connected without worrying about exorbitant charges, facilitating smoother transactions and personal interactions. The initiative is also expected to attract more tourists by ensuring seamless digital access for visitors.

“This collaboration marks another milestone in Ghana’s commitment to expanding digital connectivity, following Ghana’s successful implementation of similar agreements with Côte d’Ivoire, Togo, and Benin, with talks of possible roaming partnerships with Liberia.

“By focusing on digital integration, Ghana and The Gambia demonstrate the power of technology to bridge gaps between countries. This step also serves as a model for other West African nations to join the free-roaming framework, contributing to the larger goal of a connected and economically integrated region,” it added.

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

3 days ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.