Nigeria’s growing influence in Africa’s innovation economy received another boost as Norway’s Deputy Minister of Foreign Affairs, Andreas Kravik, led a high-level delegation to Lagos to engage with startup founders, innovators, and technology entrepreneurs.
The visit, hosted at OmniRetail’s headquarters, brought together representatives of the Norwegian government, Norfund, Ventures Platform, and key players within the startup ecosystem to discuss entrepreneurship, innovation-led growth, and the role of long-term investment in building African businesses.
The engagement reflects increasing international confidence in Nigeria’s technology sector, which continues to attract global attention for producing solutions that address real economic challenges.
Speaking during the visit, Norfund’s Head of West Africa, Naana Fynn, described Nigeria as one of Africa’s most dynamic innovation ecosystems, driven by resilient entrepreneurs developing practical solutions to pressing challenges. She noted that technology and innovation are helping tackle problems across Nigeria and the continent while supporting inclusive and sustainable growth.
The delegation’s choice of OmniRetail highlighted the growing appeal of Nigerian-founded businesses. Backed by Ventures Platform as an early investor, the company has built one of Africa’s largest B2B retail networks, helping thousands of informal retailers access inventory, logistics, and financial services. In April 2025, OmniRetail also became the recipient of Norfund’s first direct fintech investment in Africa through a $20 million Series A funding round.
OmniRetail Founder and Chief Executive Officer, Deepankar Rustagi, said the visit demonstrated how technology can drive efficiency, financial inclusion, and growth within Africa’s informal economy. He added that growing international interest shows increasing recognition of African businesses building scalable and commercially viable solutions with meaningful economic impact.
The visit also spotlighted the role of Ventures Platform in supporting Africa’s technology ecosystem. The venture capital firm has backed founders across the continent while connecting African innovation to global networks of capital and expertise.
Its Founding Partner, Kola Aina, said Africa continues to demonstrate the entrepreneurial talent, resilience, and innovation needed to build globally relevant businesses. He added that stronger partnerships between investors and founders can help accelerate economic growth, job creation, and prosperity across the continent.
During the engagement, Norfund and Ventures Platform announced Norfund’s commitment to Ventures Platform Pan-African Fund II (VP PAF II). The delegation later visited one of OmniRetail’s partner hubs in Lagos.
As global investors increasingly seek businesses that combine commercial success with measurable impact, Nigeria continues to strengthen its position as one of Africa’s leading destinations for innovation, entrepreneurship, and long-term investment.
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