Fintech Dominates Africa's Fastest-Growing Companies List
The Financial Times’ 2025 ranking of Africa’s Fastest-Growing Companies has highlighted the dominant role of fintech in the continent’s evolving business landscape, with Nigeria’s Omniretail taking the top spot, closely followed by fellow Nigerian fintech PalmPay.
The annual list, compiled in partnership with Statista, showcases the most dynamic businesses across the continent based on revenue growth, innovation, and regional impact. Notably, fintech companies represent one-fifth of the entire list, underscoring the sector’s rapid expansion and its vital role in Africa’s economic transformation.
Omniretail, a B2B e-commerce platform streamlining supply chains for informal retailers, topped the list with impressive growth metrics. Its innovative approach to digitising traditional retail networks has enabled greater efficiency and access to goods for small merchants across Nigeria.
Second on the list, PalmPay has rapidly scaled its mobile payments platform, offering digital financial services to millions of previously unbanked and underbanked individuals. Its strong performance reflects the growing appetite for cashless transactions and inclusive financial solutions across African markets.
The prominence of fintech in this year’s ranking points to a broader shift toward digital finance, with startups across the continent leveraging technology to fill gaps left by traditional banking systems. These companies are facilitating payments, extending credit, and promoting financial inclusion in both urban centres and remote areas.
Beyond Nigeria, fintechs from Kenya, South Africa, and Egypt also featured prominently, showcasing the pan-African nature of the sector’s growth.
The Financial Times’ 2025 list not only highlights individual business success but also reflects the vital role of technology and innovation in Africa’s economic resilience. As investors and policymakers look to the future, fintech is set to remain a key driver of Africa’s development agenda.
Valter Cumbi is a Senior Solutions and Software Architect that is frequently called upon to deliver technical solutions from business needs. As a Team Leader and Project Manager he has proven ability to tackle complex issues and quickly adapt to new situations/demands. His voice of experience contributes to Mozambique's digital development as a Digital Transformation Advisor in the Economic Stimulus Package, and a Work Bank consultant. Valter, blessed with opportunities such as setting up the Mozambique's first mobile TV to designing and implementing the first hybrid pre & post paid bundle system, gained experience in implementing end-to-end sophisticated technical solutions. Compounded with his business involvement and appreciation for telecommunication's potential as a medium for positive change, he brings drive, vision, and experience to his endeavours. This was displayed with an innovative mHealth platform—called PENSA *660#—that he conceived, fundraised, and implemented. It has since turned into one of the most important vehicles for dissemination of health information in Mozambique and has over 60 million consultations from over 4 million users nation-wide. Recently, Valter was recognized as an MIT Solver 2020 and Elevate Prize Fellow 2020 for his social work and impact through the PENSA *660# project.
