7 Nigerian firms among top 20 fastest growing

A report by the British Media Company, Financial Times, has ranked seven companies in Nigeria among the top 20 fastest growing companies for the year 2024 in Africa.

The report, which examined over 100 companies across the continent, considered various parameters, including sector, year of establishment, number of employees and compound annual growth rate.

South Africa led with 42 companies on the list, followed by Nigeria with 25. Kenya also made a notable showing, tying with Morocco at 12 companies.

The report covered sectors such as e-commerce, food and beverages, manufacturing, energy and utilities and real estate.

According to the report, seven companies from Nigeria made the top 20 list while over 30 Nigerian companies made the 125 companies list.

It listed the companies as 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 noted that Morocco made a significant entry with 12 companies in the top 125, a substantial increase from the three in the previous ranking.