Why Flour Mills joined OmniRetail's $20 million investment round
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Why Flour Mills joined OmniRetail's $20 million investment round
In April, Flour Mills of Nigeria (FMN), a 64-year-old manufacturing titan, transitioned from customer to shareholder in OmniRetail, a B2B e-commerce startup that has been ranked the fastest-growing business in Africa twice. FMN, one of the 145 manufacturers that use the platform to sell to retailers, co-invested $20 million in the startup. That was an uncommon step for traditional Nigerian companies, most of whom prefer to collaborate with rathe…
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