The funding follows significant internal achievements: OmniRetail became EBITDA positive in 2023 and net profitable in 2024, a rare milestone for African B2B commerce startups.
The timing of IFC’s reform push is hardly ideal. ESG investing, once the darling of asset managers and development financiers, is facing a growing global backlash .
For startups entering South Africa’s financial or digital services space, this case is a valuable, if costly, lesson in how not to market a product — especially not to vulnerable or financially inexperienced consumers.
Investisseurs & Partenaires (I&P) realised a 2.2-fold return following its exit from pan-African education network Enko Education, the firm disclosed to Launch Base Africa.
