Norwegian Deputy Minister Leads Innovation-Focused Visit to Lagos, Signalling Growing Confidence in Nigeria’s Entrepreneurial Ecosystem

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A high-level Norwegian delegation led by Andreas Kravik, Norway’s Deputy Minister of Foreign Affairs, visited Lagos today to engage with key participants in Nigeria’s innovation ecosystem, underscoring growing international interest in the country’s entrepreneurial talent, technology sector and long-term economic potential.

Hosted at the headquarters of OmniRetail, the award-winning B2B e-commerce and supply chain technology company digitizing and financing FMCG distribution across Africa.

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.

Nigeria’s innovation ecosystem is one of the most dynamic on the African continent, driven by talented, resilient entrepreneurs who are building solutions to real and pressing challenges,” said Naana Winful Fynn, Norfund Head of West Africa. “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 $20M 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.

“We are honoured to host the Norwegian delegation and showcase how technology can unlock efficiency, financial inclusion and growth within Africa’s informal economy,” said Deepankar Rustagi, Founder and CEO of OmniRetail. “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.”

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.

“Africa continues to demonstrate the depth of entrepreneurial talent, resilience and innovation required to build globally relevant businesses,” said Kola Aina, Founding Partner of Ventures Platform. “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.

For all stakeholders present, the engagement highlighted a shared belief that entrepreneurship, innovation and long-term institutional support will play an important role in driving sustainable economic growth across Africa in the years ahead.