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Tag: E-commerce

E-commerce startup Sabi lays off 20% workforce
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E-commerce startup Sabi lays off 20% workforce

African B2B e-commerce startup Sabi has laid off approximately 20% of its workforce, around 50 employees as part of a major strategic pivot from its retail marketplace roots to focus more aggressively on commodity exports. The company confirmed the layoffs on Thursday, citing a broader restructuring effort aimed at aligning its operations with growing global […]

OmniRetail secures $20m Series A funding to accelerate African expansion
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OmniRetail secures $20m Series A funding to accelerate African expansion

African B2B e-commerce platform OmniRetail has raised $20 million in Series A equity funding, a major step in its plan to scale operations across Nigeria, Ghana, and Ivory Coast, and deepen its focus on embedded financial products for informal retailers. The round was co-led by Norwegian development finance institution Norfund and Lagos-based Timon Capital, with […]

Shopify expands AI-powered features to attract more businesses
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Shopify expands AI-powered features to attract more businesses

Shopify has made its artificial intelligence-powered tools, including the Sidekick assistant and image-generation feature, available to more users as of Monday. This move aims to enhance the appeal of its e-commerce platform and drive revenue growth. At its biannual products event, the Canada-based firm announced that customers can now use its editing tool on their […]

Top 25 fastest growing Nigerian companies in 2024
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Nigeria’s Omniretail ranked Africa’s fastest growing company in 2024

Nigerian E-commerce company, Omniretail has emerged as the fastest-growing company in Africa in 2024 in the third edition of Africa’s Fastest Growing Companies. OmniRetail, a startup established in 2019, experienced an astonishing surge in revenue, soaring by 772.39% in 2022 to reach $139.8 million. Following closely behind, Mauritian Kyosk Digital, a B2B platform facilitating connections […]

African startups MaxAB, Wasoko in merger talks
News Tech

African startups MaxAB, Wasoko in merger talks

Egyptian B2B e-commerce startup, MaxAB, is currently in discussions with Wasoko, an e-commerce player based in Zanzibar that operates in Kenya, Tanzania, Rwanda, Uganda, and Zambia, regarding a potential merger. According to a report by TechCrunch, the talks are ongoing, and a final agreement has not yet been reached. This potential merger takes place amidst […]

E-Commerce startup Alerzo lays off 100 workers
News Tech

E-Commerce startup Alerzo lays off 100 workers

Eight months after laying off 400 employees, the e-commerce startup Alerzo, which raised $10.5 million in a Series A round in 2021, has laid off at least 100 staff. A spokesmanfor the company acknowledged that at least 100 positions were impacted, although they withheld the precise number. “As a company, we’ve invested and built an […]

Shopify invests in wholesale platform Faire
News Tech

Shopify invests in wholesale platform Faire

The world’s largest e-commerce platform Shopify is making an investment in the wholesale platform Faire, the firms announced on Wednesday. As part of the arrangement, the start-up will use Shopify technology for its customers. Faire, which was established in 2017 and has a $12.59 billion market cap, will be suggested as the wholesale marketplace for […]

AfCFTA: Intra-Africa exports to surpass $1trn by 2035 - Standard Chartered
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Why E-commerce is vital to $3.4tn AfCFTA market – Stakeholders

E-commerce, according to stakeholders, has the potential to expand the $3.4 trillion African Continental Free Trade Area market. The Punch reported that they made these remarks on Wednesday at a workshop in Lagos that looked at how Nigeria may benefit from the free trade initiative. The Lagos Chamber of Commerce and Industry organized the session […]

10 things you should know about online shopping
E-commerce

10 things you should know about online shopping

Online shopping has revolutionized the way we shop, bringing convenience and a world of choices right to our fingertips. With a few clicks, we can explore an endless array of products and have them delivered to our doorsteps within days. However, this modern marvel of shopping also comes with its share of challenges and potential […]

Shopify launches AI assistant
News Tech

Shopify launches AI assistant

Canadian e-commerce company Shopify, announced on Wednesday that it will soon introduce an artificial intelligence assistant for merchants using its platform. CEO Tobi Lutke explained in a video uploaded on Twitter that the “Sidekick” assistant would be integrated as a button on Shopify and respond to merchant questions, including specifics on sales trends. Following the […]

Jack Mi
Business

Alibaba to split business into six units 

Alibaba Group Holding Ltd has on Tuesday announced it plans to divide its business into six main units that will focus on e-commerce, media, and cloud. According to Reuters, the company also stated that each unit will consider raising funds or holding initial public offerings. Alibaba is a Chinese multinational technology company specializing in e-commerce, […]

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