Africa's Fastest Growing Companies 2025
In Partnership with the Financial Times, Statista identified Africa’s Fastest Growing Companies. The fourth annual list ranks the 130 African companies with the strongest revenue growth between 2020 and 2023.
- Clear and detailed methodology
- Segmented by industry
- Partnered with the Financial Times
Who are
Africa's Fastest Growing Companies 2025
project registration
Companies that are interested in participating in next year’s ranking can register below to be notified when applications open.
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Project Details
About the project
795.94%
Highest CAGR
8.2%
Minimum CAGR to be included
130
Companies awarded
calculation of growth rates
The calculation of company growth rates is based on the revenue figures submitted by the companies in the respective national currency. For better comparability in the ranking the revenue figures were converted into US dollars. The average rate for the financial year indicated by the company was used for this purpose.
The compound annual growth rate (CAGR) was calculated as follows:
methodology
How we work
Application Phase
The project was advertised online and in print, allowing all eligible companies to register via the websites created by Statista and the Financial Times. In addition, through research in company databases and other public sources Statista has identified thousands of companies in Africa as potential candidates for the ranking. These companies were invited to participate in the competition by post and email.
The application phase ran from 1st of October 2024 to 31st of January 2025. The submitted revenue figures had to be certified by the CFO, CEO or a member of the Executive Committee of the company.
Following the application phase Statista examined the officially stated revenue data of around 650 public companies in Africa. In the next step high-profile companies that met the aforementioned criteria were added to the list (11 in total). The data has been collected via desk research in official sources like publicly available earning presentations, investor relations websites or annual reports.
The ranking of Africa’s Fastest Growing Companies 2025 was created through a complex procedure. Although the search was very extensive, the ranking does not claim to be complete, as some companies did not want to make their figures public or did not participate for other reasons.
Criteria
To be included in the list of Africa’s fastest growing companies, a company had to meet the following criteria:
- Revenue of at least $100,000 generated in 2020 (or currency value equivalent according to the average of the actual fiscal year).
- Revenue of at least $1.5m generated in 2023 (or currency value equivalent according to the average of the actual fiscal year).
- Be independent (the company is not a subsidiary or branch office of any kind).
- Revenue growth between 2020 and 2023 that was primarily organic (ie “internally” stimulated)
- The companys operational headquarters are located in one of the African countries.
Evaluation
The list ranks entrants from across Africa by their compound annual growth rate (CAGR) in revenue between 2020 and 2023. The fiscal years that predominantly falls into 2020 and 2023 were used for this calculation.
Quality Assurance
All data reported by the companies was processed and checked by Statista. Missing data entries (employee numbers, address data, etc.) were researched in detail. Companies that did not fulfill the criteria for inclusion in the ranking were deleted.
A detailed report on our methodology is available here.
Partnership
Our reliable partner
The Financial Times is one of the world’s leading business news organizations, recognized internationally for its authority, integrity and accuracy. It is part of Nikkei Inc., which provides a broad range of information, news and services for the global business community.
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