OmniRetail, Moniepoint, and AFEX top list of Nigeria's fastest-growing startups
- OmniRetail is the fastest-growing African startup according to the Financial Times' list of fastest-growing African companies.
- Moniepoint is the second Nigerian startup on the list with a 2022 revenue of $148.6 million.
- Afex claims the top spot in terms of revenues generated by Nigerian startups with revenues of $415.5 million.
The inclusion of OmniRetail as the fastest-growing African startup and the success of Nigerian startups like Moniepoint and Afex demonstrate the potential for growth and innovation in the African business landscape. However, it is important to consider the challenges faced by eCommerce startups in the country, such as declining venture funding and inflation, which can impact their sustainability.
