Business
Africa’s fastest growing companies are in Kenya and Nigeria, a new FT survey shows
The two fastest-growing companies in Africa are in Kenya, according to a new ranking released by the Financial Times on Tuesday, and 5 of the top 10 are in Nigeria.
South Africa dominates the list numerically, with more entries than any other country – but the first SA company features only at number 10. And, were it not for SA’s precious metals, Nigeria would have claimed that title too.
The FT created the inaugural list with research company Statista, and it ranks companies on the continent based on their compound annual growth rate (CAGR) in revenue between 2017 and 2020.
Some companies are missing from the list, the British paper says, for reasons that include private companies refusing to make public their revenue figures. The survey required a chief executive or similar senior figure to certify revenue numbers.