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Goodwell Investments Partners with Alitheia Capital to Invest EUR 150 million in OmniRetail to Support Informal Retailers in Africa

By Oluchukwu Ikemefuna

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Goodwell Investments, a Dutch impact investing firm, has recently declared its investment in OmniRetail, a Nigerian B2B e-commerce initiative

Goodwell Investment

The investment with the B2B initiative was done via its uMunthu II fund, effectively kickstarting OmniRetail’s Series A fundraising round.

Goodwell Investment In OmniRetail

Goodwell Investments is a pioneering impact investment firm focused on inclusive growth in sectors providing basic goods & services. Additionally, it provides income-generation opportunities to underserved communities in Africa and India.

The firm provides early-stage equity to high-growth, high-impact businesses. With teams in Kenya, Nigeria, South Africa and the Netherlands and a track record of over fifteen years.

According to Goodwell, OmniRetail provides the essential digital infrastructure to tackle some of the most pressing challenges within Africa’s commerce value chain. It particularly addresses the needs of informal retailers.

This often-overlooked group constitutes the backbone of commerce across sub-Saharan Africa. This in turn contributes significantly to the region’s GDP and provides livelihoods to millions of individuals.

However, these small businesses grapple with uncoordinated supply chains and fragmented distribution networks, hindering their growth and economic stability.

Goodwell Investment To Boost Digital Infrastructure In Africa 

Archit Bagaria, Head of Investments at OmniRetail, highlighted the company’s mission, saying, “Africa deserves a robust digital infrastructure layered on top of the existing informal retail. The impact of this cannot be overstated. Informal retail plays a very important role in the economies we want to transform. With support from Goodwell, one of the top impact funds focused on the continent, we are just getting started on our journey of a true digital infrastructure play that will impact and transform retail in Africa!”

Additionally, Oti Ilentamhen, investment principal at Alitheia, accentuated OmniRetail’s commitment to bolstering marginalized entrepreneurs. He specifically highlighted that women constitute 78% of its clientele. 

Alitheia Speaks On The New Partnership

OmniRetail stands as evidence of how technology can be harnessed to facilitate meaningful transformation within underprivileged demographics.

Oti added, “As OmniRetail forges ahead in broadening its influence, integrating elements like distribution, logistics, and financial solutions, not only reinforces a promising narrative for investors but also underscores the profound impact and financial viability of empowering enterprises that balance economic interest with social integrity.” 

Goodwell has partnered with Alitheia Capital since 2009. The partnership ensures the identification and management of investments in West Africa. The investment includes uMunthu II, Goodwell’s latest EUR 150 million fund. 

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Abdullahi Kafayat
Abdullahi Kafayat

Abdullahi Kafayat is an enthusiastic writer interested in the tech world. She's a graduate of Obafemi Awolowo University and has a BSc in Chemistry. You can reach her at Kafayatabdullahi17@gmail.com.

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