Yesterday, the Financial Times, and analysis firm, Statista launched a report on Africa’s fastest growing companies 2023. The list highlights how the highest 100 African companies from throughout completely different sectors—fintech, renewable power, healthcare, commodities and agriculture—stored their companies afloat whereas many of the world’s companies shut down. Topping the list is Nigerian-based startup Afex Commodities Exchange and Moniepoint. Other companies on the list embody Wasoko, from Kenya, which topped the list the earlier yr, and Altech, an Energy firm from the Democratic Republic of Congo.
This article highlights a few of the speaking factors of the report.
The list reveals a balanced illustration of all sectors
Although fintech and agriculture maintain prime spots, Africa’s fastest-growing companies list reveals a balanced illustration of companies throughout completely different sectors. Companies from throughout IT & Software, Logistics & Transportation, Real Estate, Energy & Utilities, Construction & Engineering, Food & Beverages, Media & Telecommunications, Agriculture, Retail, Hospitality, Professional Services, E-commerce, Management & Consulting, Manufacturing, Education, Metals & Mining, have been all on the list with various levels of illustration.
Fintech and IT companies had the very best variety of illustration on the list, with nineteen and sixteen companies, respectively. Agriculture, with a illustration of 9 international locations, is available in third and is carefully adopted by the Metal and Mining sector, with eight companies contributing to the list. Sectors with the bottom variety of illustration embody manufacturing, hospitality& journey, employment companies, {and professional} companies, with one entry apiece.
The large 4 lead the pack
The Africa’s Fastest growing companies list noticed illustration from fourteen completely different African international locations: Nigeria, Rwanda, South Africa, Egypt, Kenya, Sierra Leone, the Democratic Republic of Congo (DRC), Morocco, Tanzania, Ghana, Mauritius, Zambia, Malawi and Namibia.
Companies from the massive 4—South Africa, Nigeria, Egypt and Kenya—closely dominated the list. Leading the pack have been South Africa and Nigeria, with thirty-three and twenty-seven companies, respectively. Kenya and Egypt each polled twelve and 9 companies, respectively. Zambia, Rwanda, Sierra Leone, DRC, Tanzania, and Malawi polled the least variety of entries, with one entry every.
Regions.
Southern Africa produced probably the most variety of entries within the list, with 37 companies, vastly boosted by figures in South Africa and simply 4 in Namibia. Western Africa is available in second with 30 entries throughout Nigeria, Ghana and Sierra Leone. Eastern Africa had a present of 19 firm contributions. Middle Africa contributed the least to the 100 fastest growing firm list with only one entry.
Eastern Africa had the very best variety of international locations on the list, with 5 international locations, carefully adopted by West Africa, with three. Middle Africa had the least with one, whereas South Africa and North Africa had two international locations every on the list.
…. to be continued
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