Moniepoint, others lead as report reveals fastest-growing companies in Africa

The Financial Times (FT) has shared a new ranking of the fastest-growing companies in Africa.

Majority of economies in the African continent are having a hard time recovering from the losses of the coronavirus pandemic.

The report by FT showed that the International Monetary Fund (IMF) has stated that Africa’s economy rose by 3.2% in 2023.

The continent's economic growth rate is much lower than in Asia, where the economy grew by almost 5%.

The FT further added that Nigeria ranked second with the fastest-growing companies on the continent, after South Africa, which enviably has the highest number of companies on the list.

Kenya is said to have ranked third though they are struggling with high public debt and inflation.

The report also showed the type of firms that, still grew and disrupted markets despite difficult times. Morocco recorded 12 companies on the list of 125, up from three in the 2023 report.

A Nigerian company, Omniretail, the B2B e-commerce platform, came first on the list.

See 10 companies leading below:



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