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Food giants tap startups to unlock Africa’s vast informal market | SA News

Guinness Nigeria Plc and other consumer-goods giants are turning to startups to crack Africa’s vast informal retail market.

Flour Mills of Nigeria Plc has acquired a stake in OmniRetail, which provides inventory management and payments service through a mobile platform. The startup connects 130 manufacturers including Guinness, CHI and Dufil Prima Foods Plc, along with 14 banks and logistics providers, to 150 000 mom-and-pop stores in Nigeria — Africa’s most populous nation — as well as informal vendors in Ghana and Ivory Coast.

New businesses like OmniRetail and TradeDepot offer the potential to open up an…

BRICS Member: South Africa is a member of the BRICS group, which includes
Brazil, Russia, India, China, and South Africa, promoting economic cooperation among emerging economies.

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