International confidence in Nigeria’s entrepreneurial ecosystem deepened yesterday as Norway’s Deputy Minister of Foreign Affairs, Andreas Kravik, led a high-level Norwegian delegation to Lagos, promising long term support for startups.
The visit, hosted at OmniRetail’s headquarters, spotlighted Nigeria’s fast-growing innovation and tech sector and reaffirmed long-term foreign investor interest in African startups solving real economic challenges.
The visit brought together representatives from the Norwegian government, the Norwegian Investment Fund, Norfund, OmniRetail, and Ventures Platform to discuss entrepreneurship, innovation-led growth, and the role of long-term capital in supporting the next generation of African businesses.
Speaking during the meeting, Norfund Head of West Africa, Naana Winful Fynn, said Nigeria’s innovation ecosystem is one of the most dynamic on the continent, driven by talented, resilient entrepreneurs who are building solutions to real and pressing challenges.
She said, “We continue to see how technology and innovation are addressing myriad challenges in Nigeria and across Africa, and we remain committed to supporting innovation and private sector development that also helps drive inclusive and sustainable growth.”
The delegation’s choice of OmniRetail as the venue reflects a desire to see how local innovation is addressing real-world challenges at scale. Backed by Ventures Platform as an early investor, and as Norfund’s first direct fintech investment in Africa via its $20million Series A announced in April 2025, OmniRetail has built one of Africa’s largest B2B retail networks, helping thousands of informal retailers access inventory, logistics and financial services.
Speaking on the visit, the Founder/CEO of OmniRetail, Deepankar Rustagi, said, “We are honoured to host the Norwegian delegation and showcase how technology can unlock efficiency, financial inclusion, and growth within Africa’s informal economy.”
“The challenges we are solving are significant, but so is the opportunity. Visits like this reinforce the growing recognition that African businesses are building scalable, commercially viable solutions with meaningful economic impact,” he added.
As one of Africa’s leading early-stage venture capital firms, Ventures Platform has played a key role in supporting the continent’s tech ecosystem growth by backing ambitious founders, strengthening ecosystem infrastructure, and helping connect African innovation to global networks of capital and expertise. Its portfolio includes category-defining companies such as OmniRetail, whose growth reflects the scale of opportunity emerging across the continent.
The Founding Partner of Ventures Platform, Kola Aina, said, “Africa continues to demonstrate the depth of entrepreneurial talent, resilience, and innovation required to build globally relevant businesses. Whether through companies like OmniRetail or the many founders building across sectors, we continue to see evidence that bold entrepreneurs across the length and breadth of the continent are solving meaningful problems at scale. Visits like this create opportunities for stronger partnerships and a shared understanding of how innovation can contribute to economic growth, job creation, and prosperity across the continent.”
During the engagement, representatives of Norfund and Ventures Platform also announced Norfund’s commitment to Ventures Platform Pan-African Fund II (VP PAF II). The day’s engagement ended with a visit to one of OmniRetail’s partner hubs in Lagos, Nigeria.
The visit comes at a time of increasing international recognition for African innovation, with global investors, development finance institutions, and strategic partners showing renewed interest in businesses that combine commercial viability with meaningful economic impact.
“We heard from all stakeholders that entrepreneurship, innovation, and long-term institutional support will drive sustainable economic growth across Africa in the years ahead,” Aina said.
