OmniRetail acquires payment provider Traction to enhance financial solutions
- OmniRetail acquires Traction Apps to boost financial services for SMEs.
- The merger will process over ₦1.8 trillion annually.
- OmniRetail aims to facilitate loans worth ₦200 billion per year.
The acquisition of Traction Apps by OmniRetail represents a significant step towards enhancing the digital payment landscape for small businesses in Nigeria. This strategic move not only strengthens OmniRetail's market position but also promises to deliver innovative financial solutions that can drive growth in the FMCG sector. The successful integration of these platforms could serve as a model for similar ventures across Africa.
