Nigeria has emerged as a continental powerhouse in entrepreneurship, as it leads the Financial Times’ 2025 ranking of Africa’s fastest-growing companies. The latest list, compiled in collaboration with Statista, spotlights the continent’s most dynamic and rapidly scaling businesses across a range of sectors from fintech and logistics to real estate and media.

At the top of the list is Nigeria’s Omniretail Inc, a business-to-business (B2B) e-commerce platform that achieved a staggering 7,184.4% absolute growth between 2019 and 2023, reflecting a compound annual growth rate (CAGR) of 795.9%. The company reported revenue of $120.15 million in 2023, up from just $0.28 million in 2020. This meteoric rise highlights the increasing demand for digital retail infrastructure across Africa’s burgeoning informal markets.

Closely following Omniretail is another Nigerian firm, PalmPay Ltd, operating in the financial technology sector. With a CAGR of 583.6% and revenue of $63.9 million in 2023, PalmPay has made financial inclusion more accessible to millions of unbanked Africans through its mobile payment solutions.

These two Nigerian companies are joined in the top five by Remedial Health, a pharmaceutical logistics platform also based in Nigeria, Eshandi Financial Services Ltd of Zambia, and Mauritius-based The Africaworks Group of Companies, which focuses on real estate development.

The 2025 FT ranking showcases Africa’s fastest-growing companies in a more diverse and mature economic landscape. While Nigeria leads with 19 companies in the top 50, South Africa also maintains a strong presence with 14 entries, followed by Mauritius, Morocco, and Egypt.

One notable trend is the dominance of fintech and e-commerce, sectors that have been pivotal in bridging infrastructure and access gaps on the continent. Seven of the top ten companies operate in fintech, insurance, or digital payment systems underscoring the growing investor appetite and consumer reliance on digital financial platforms.

The continent’s growth story is not confined to financial services alone. The automotive industry is represented by South Africa’s Gobid Pty Ltd, which ranked 7th with 3150.1% growth, while logistics companies such as Bisedge Ltd (Nigeria) and Gozem Ltd (Togo) have scaled significantly by addressing transportation inefficiencies in congested urban centers.

Nigeria’s dominance in the rankings points to a sustained wave of innovation and resilience despite structural economic challenges. From healthcare logistics to clean energy and digital banking, the country’s startups are solving local problems with global implications.

Moniepoint Inc, formerly known as TeamApt, came in at number 16, reflecting the continued rise of digital banking solutions tailored to Africa’s unique financial landscape. Winock Solar Nigeria Ltd, a clean energy firm, placed 15th, showing that green energy is also beginning to take root.

In the healthcare sector, Evercare Hospital Lekki Ltd was the top-performing hospital group, with 145.6% CAGR, indicating that private investment in healthcare continues to fill critical gaps left by underfunded public systems.

Beyond Nigeria, innovation is thriving across the continent. South Africa’s BlueCamp Ltd and Altracon Projects Pty Ltd showed strong performance in construction and engineering, suggesting that urban development remains a key economic driver.

Uganda’s Numida Technologies, an SME-focused lending platform, placed 17th with a CAGR of 151.2%, demonstrating that East Africa is becoming a key player in digital lending and inclusive finance. In North Africa, ILLA Logistics Holdings of Egypt made the list, and Tunisia’s Gomycode Holding BV, an edtech startup, showed impressive growth with a CAGR of 105.3%.

The Financial Times ranking of Africa’s fastest-growing companies 2025 is based on revenue growth between 2019 and 2023, sourced from public disclosures and private submissions. To qualify, companies needed revenues of at least $100,000 in 2019 and $1.5 million in 2023, and they had to be headquartered in Africa.

This ranking not only provides a benchmark for investors and policymakers but also signals the growing maturity and resilience of African businesses. As global investment flows shift towards emerging markets, Africa is poised to attract more capital, especially in scalable tech-driven solutions.

The 2025 rankings confirm what many investors and analysts have been noting: Africa’s entrepreneurial landscape is vibrant, resilient, and ready for scale. Despite global economic headwinds, the continent’s best-performing companies have leveraged technology and innovation to drive growth, proving that local challenges often inspire world-class solutions.

As the digital transformation continues to unfold, and as regulatory and funding environments improve, the businesses featured in this year’s FT list are likely to become tomorrow’s industry leaders not just in Africa, but globally.

 

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