Introduction

OmniRetail, a prominent African B2B e-commerce platform, has announced its expansion into Francophone Africa, starting with Ivory Coast. To lead this ambitious growth, the company has appointed Steve Dakayi as the Country Lead for Ivory Coast. This strategic move underscores OmniRetail's commitment to expanding its footprint in some of the continent's most promising markets.

Steve Dakayi: Bringing Experience and Vision to OmniRetail

Steve Dakayi joins OmniRetail after the closure of BetaStore, a B2B e-commerce startup he founded in 2020. With a decade of experience in e-commerce, including a key role as the commercial and fulfillment lead at Jumia, Dakayi brings invaluable expertise to OmniRetail's expansion strategy. His deep understanding of the e-commerce landscape positions him to navigate the complexities of entering new markets in Francophone Africa.

Targeting High-Potential Markets

OmniRetail's expansion into Francophone Africa is a calculated move, reflecting the company's philosophy of growing its presence once a strong foothold has been established. Amber Yadav, OmniRetail’s Head of Retail Division, highlighted the importance of this expansion during a recent call with TechCabal, noting, “We are looking at new geographies that make more sense in Francophone Africa like Cameroon, Senegal, and Côte d'Ivoire. That is the reason for our expansion.”

This strategic push into Francophone Africa aligns with trends observed by competitors like Wasoko, as the region has shown significant potential for growth. Factors such as a stable currency pegged to the Euro and high economic growth have made Francophone Africa a favorable environment for business expansion. The International Monetary Fund (IMF) notes that six of the seven fastest-growing economies in sub-Saharan Africa are in Francophone countries.

Francophone Africa: A Market Ripe for Growth

Dakayi emphasized the underestimated potential of Francophone Africa, particularly with the region's growing middle class and increased purchasing power. “Some of the latest trends we have observed include significant growth in the middle class, leading to new consumption habits. These are key growth drivers,” he stated.

Dakayi believes that OmniRetail’s focus on fast-moving consumer goods (FMCG) will be particularly successful in Francophone countries. By prioritizing unit economics and building strong partnerships, OmniRetail aims to drive profitability while maintaining an asset-light approach in these regions.

Steering OmniRetail’s Expansion

As the new Country Lead for Ivory Coast, Dakayi will report directly to Deepankar Rustagi, the CEO of OmniRetail, and will oversee the company’s expansion across Francophone Africa. His appointment comes at a critical time when OmniRetail is intensifying its focus on profitability, following its recognition as one of the fastest-growing companies of 2024.

Dakayi is optimistic about OmniRetail’s future, stating that the company’s vision is to become the leading e-commerce platform in Africa. With a strategic focus on expanding into high-potential markets and a commitment to operational excellence, OmniRetail is well-positioned to achieve its ambitious goals.