OmniRetail Expands Into Francophone Africa, Appoints Steve Dakayi as Country Lead For Ivory Coast
OmniRetail, an African B2B e-commerce platform, has appointed Steve Dakayi as the Country Lead for Ivory Coast as part of its strategic expansion into Francophone Africa.
Dakayi brings a decade of experience in e-commerce, including his role as the commercial and fulfillment lead at Jumia.
Speaking on the company’s expansion into Francophone Africa, Amber Yadav, Head of OmniRetail’s Retail Division said,
“As a company and philosophy, once you have established a strong foothold, the next step is to explore expansions. We are targeting geographies that present significant opportunities in Francophone Africa, such as Cameroon, Senegal, and Côte d’Ivoire. This is the driving force behind our expansion.”
OmniRetail’s move into Francophone Africa is poised to increase the company’s growth, as the region has shown growth potential, bolstered by a stable currency pegged to the Euro, which shields it from the foreign exchange instability seen in other parts of West Africa. This stability is crucial for e-commerce businesses, as it reduces the risks associated with currency fluctuations, making it easier to price products, manage costs, and forecast revenue.
Additionally, Francophone Africa is relatively underserved in comparison to Anglophone Africa when it comes to e-commerce. This presents a unique opportunity for businesses to enter the market early and establish a strong presence before competition intensifies.
Dakayi is confident that OmniRetail’s focus on fast-moving consumer goods (FMCG) will succeed in Francophone countries. “We’re not concerned with the competition; our focus is on building a business driven by strong unit economics,” he said. To achieve this, OmniRetail will prioritize building robust partnerships and maintaining an asset-light model to drive profitability in these new markets.
In his new role, Dakayi will report directly to OmniRetail CEO Deepankar Rustagi and lead the company’s expansion into Francophone Africa, starting with Ivory Coast.
Source: Techcabal
