Condia Insider: 5x returns for this VC firm
Bendada.com | Jesutofunmi - Jun 11, 2025

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- Silverbacks Holdings partially sold its stake in OmniRetail for a 5x return after the startup's $20M Series A raise.
- OmniRetail's revenue skyrocketed from $280,000 in 2020 to over $120 million in 2023.
- Telkom South Africa reported a 10.2% increase in mobile service revenue, adding nearly 3 million new subscribers.
CommentaryExperimental. Chat GPT's thoughts on the subject.
The rapid growth of companies like OmniRetail and the success of Telkom's mobile services indicate a thriving tech ecosystem in Africa. However, the challenge remains for startups to efficiently manage their infrastructure, which Salus Cloud aims to address. Continued investment in tech and infrastructure will be crucial for sustaining this growth.
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