Held in Lagos under the theme “Transforming Retail with Emerging Technologies,” the event was convened by the Africa Retail Academy of the Lagos Business School (LBS) and featured thought leaders, innovators, financiers, and academics exploring ways to modernize retail across the continent.
In her opening remarks, Professor Yinka David-West, Dean of the Lagos Business School, described technology as more than a mere instrument — but as a catalyst for innovation, inclusion, and value creation in Africa’s evolving marketplace.
“Technology is not just a tool; it is an enabler. It changes how we think, how we work, and ultimately, how we create value,” she said.
David-West highlighted the growing digital shift across African cities, citing examples that reflect how technology is redefining commerce at every level — from informal traders to organized retail chains.
“The market woman in Onitsha now restocks through her phone; the young entrepreneur in Nairobi builds a customer base through social media; and the supermarket chain in Accra uses data analytics to understand what its customers truly value,” she explained.
According to her, the Africa Retail Academy, established in 2021, is working to bridge gaps between formal and informal retail through research, education, and innovation. However, she emphasized that persistent challenges — including fragmented supply chains, limited access to finance, and slow digital adoption — require bold leadership and strategic innovation.
Echoing her views, Professor Louis Nzegwu, Chair of the Africa Retail Congress, noted that digital platforms are already reshaping trade dynamics and improving consumer access.
“Platforms such as Wasoko and Alerzo are rewriting the rules of informal retail. They allow small shop owners to restock, access capital, and sell efficiently, all from their phones,” Nzegwu said.
Delivering the keynote address, Mrs. Juliet Anammah, Board Chair of Nigerian Breweries and former Chair of Jumia Nigeria, called for a redefinition of retail as an independent economic asset rather than a supporting channel for distribution.
“It’s time we rethink retail as a self-sustaining asset class. Technology can scale even the smallest kiosk in Africa,” she said, stressing that emerging technologies now influence how goods move, how consumers decide, and how businesses grow.
Also speaking, Deepankar Rustagi, Chief Executive Officer of OmniRetail Technology Limited, pointed out that Africa is leading global AI adoption in retail through homegrown innovations that address local challenges while powering growth across supply chains.
The congress concluded with a shared commitment among participants to accelerate digital adoption, strengthen collaboration, and position Africa’s retail ecosystem as a driver of inclusive and technology-led economic growth.