In a recent report by Financial Times, a British Media Company, Nigeria celebrates the recognition of seven of its companies among Africa’s top 20 fastest-growing entities for 2024.
The report analyzed over 100 companies continent-wide and factored in parameters like sector diversity, establishment year, workforce size, and compound annual growth rate.
Notably, South Africa led the tally with 42 companies, closely trailed by Nigeria with 25. Kenya and Morocco, tied at 12 companies each, also garnered noteworthy mentions.
The scrutinised sectors spanned e-commerce, food and beverages, manufacturing, energy, utilities, and real estate.
Remarkably, Nigeria clinched seven spots in the top 20 list, with over 30 Nigerian entities making it to the broader list of 125 companies.
Among the Nigerian gems highlighted are Omniretail Inc., Moniepoint Inc., Afex Commodities Exchange Ltd., Alpha Morgan Capital Managers Ltd., Mycredit Investments Ltd. (Fair Money), Thrive Agric Ltd., Bisedge Ltd., and Methodology and Insights.
The report underscores Morocco’s impressive feat, with 12 entries in the top 125—an exponential leap from the mere three in the previous ranking.
