The FT said Africa’s fastest-growing companies are in Kenya and Nigeria

9 May 2022

According to the FT, Africa’s fastest-growing companies are based in Kenya and Nigeria

The Financial Times ranked the fastest-growing companies in Africa. The top eight are based in Nigeria and Kenya, with only one in South Africa.

The new FT ranking of Africa’s fastest growing companies reveals that of the top ten, five are based in Nigeria, three in Kenya (including the top two, Wasoko and Flocash), one in Mauritius and one in South Africa (No. 10).

The FT reports that most of these companies have accelerated their digital transformation or offer technological innovation solutions, partly in response to Covid-19 and its disruption of transport and logistics.

“The inaugural FT annual ranking of Africa’s Fastest-Growing Companies provides a snapshot of the corporate landscape in a continent where technology, fintech and support-service businesses have had to adapt to a radically altered environment. Chief among the recent challenges has been operating within the tough restrictions introduced by many African governments to combat Covid-19” Financial Times.

The 10 Kenyan companies represented on this list of only 75 companies and their respective rankings in brackets are:

Only 6 Egyptian companies made the list, from 19th place, including AI Karm For Solar Energy (19). Ghanaian companies also failed to perform as expected, with only four companies on the list, including IT consortium Ltd (17).

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