The Financial Times, in partnership with research firm Statista, has released its 2025 ranking of Africa’s Fastest-Growing Companies, spotlighting 130 businesses across the continent that demonstrated exceptional performance despite ongoing economic headwinds.
The list, based on compound annual growth rate (CAGR) from 2020 to 2023, is dominated by firms from South Africa and Nigeria, which together account for 79 of the 130 ranked companies. The strong showing reflects the relative economic scale of both countries, even as pan-African business growth remains limited by fragmented markets and regulatory inconsistencies.
Topping the list is Nigeria’s Omniretail, a B2B e-commerce platform streamlining supply chains for retailers. In second place is PalmPay, another Nigerian startup that has rapidly expanded its digital payments ecosystem. Notably, fintech companies make up roughly one-fifth of the entire ranking, underlining the sector’s continued dominance in Africa’s innovation landscape.
While the rankings showcase entrepreneurial resilience, the report also underscores persistent challenges such as currency instability, difficult funding environments, and high perceived investment risk. These hurdles continue to limit cross-border scalability and investor confidence, especially in less-established markets.
Despite these barriers, the report paints a cautiously optimistic picture of Africa’s private sector, revealing a generation of agile, tech-driven companies carving out growth in a turbulent global economy.
Image Source:ft.com