AFRICA’S FASTEST-GROWING TOP 100 COMPANIES IN 2023 BY RAINE ST.CLAIRE
Africa’s fastest-growing top 100 companies in 2023 Sensational seventeen: South Africa dominates the top 50
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outh Africa shines with 17 entities in the top 50 of Africa’s 100 fastestgrowing companies for 2023, as revealed by The Financial Times and Statista’s annual ranking. In its second year, the ranking underscores the remarkable expansion of companies in fintech, renewable energy, healthcare, commodities, and agriculture. This growth occurred at a time when much of the world was grappling with the impacts of the pandemic, highlighting the resilience and growth of businesses across diverse sectors despite challenges stemming from the global lockdown in 2021.
64 | Public Sector Leaders | December 2023/ January 2024
The diverse rankings highlight the dynamic and varied nature of Africa’s fastest-growing companies.
Nigeria takes the lead with the top two fastest-growing companies. Afex, specialising in brokerage and trade finance services for commodities such as maize, sorghum, cocoa, and rice, secures the 1st position with an impressive compounded annual growth rate (CAGR) exceeding 500% over three years. Following closely in 2nd place is Lagos-based Moniepoint, providing banking services tailored for small businesses.
