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Top 20 Fastest Growing Companies in Africa (2024)

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The Financial Times has released its list of the top 20 fastest growing companies in Africa for 2024.

These companies have shown remarkable growth, driven primarily by organic means, and have made significant contributions to their respective industries.

Here’s a closer look at each company and what they do.

  1. Omniretail Inc. (Nigeria, E-commerce)

    • About: A leading online retail company in Nigeria, Omniretail Inc. provides a wide range of products, including electronics, fashion, and household items, through its robust e-commerce platform.
  2. Kyosk Digital (Mauritius, E-commerce)

    • About: Kyosk Digital specializes in providing digital solutions for retail logistics and supply chain management, helping small retailers streamline their operations and improve efficiency.
  3. Resourgenix Pty Ltd. (South Africa, Employment Services)

    • About: Resourgenix is a prominent employment services provider in South Africa, offering staffing solutions and workforce management services to various industries.
  4. Moniepoint Inc. (Nigeria, Fintech)

    • About: Moniepoint is a fintech company that offers mobile banking and payment solutions, aiming to provide financial inclusion for the unbanked population in Nigeria.
  5. Afex Commodities Exchange Ltd. (Nigeria, Fintech)

    • About: Afex operates Nigeria’s first private commodities exchange, facilitating trade and investment in agricultural products to improve market efficiency and farmer incomes.
  6. Chari.Co (Morocco, E-commerce)

    • About: Chari.Co is an e-commerce platform that supports small and medium-sized retailers in Morocco by providing access to a wide range of products at competitive prices.
  7. Enara Group (Egypt, Energy & Utilities)

    • About: Enara Group is an energy solutions provider in Egypt, focusing on renewable energy projects and utilities management to support the country’s sustainable development goals.
  8. Yellow Digital Retailers Ltd. (Mauritius, Energy & Utilities)

    • About: Yellow Digital Retailers offers affordable solar energy solutions to households and businesses in Mauritius, promoting the use of clean energy across the island.
  9. Kentegra Biotechnology Epz Ltd. (Kenya, Health Care)

    • About: Kentegra Biotechnology is a Kenyan biotech firm that develops and manufactures health care products, including pharmaceuticals and medical devices, to improve health outcomes.
  10. HearX Group Pty Ltd. (South Africa, Health Care)

    • About: HearX Group provides innovative hearing health solutions through digital platforms, offering services like hearing tests and affordable hearing aids.
  11. AfricaWorks (Mauritius, Real Estate)

    • About: AfricaWorks is a real estate company that offers flexible workspace solutions across Africa, catering to the needs of startups, freelancers, and established businesses.
  12. Mycredit Investments Ltd. (Nigeria, Fintech)

    • About: Mycredit Investments provides microloans and credit facilities to individuals and small businesses in Nigeria, helping them achieve financial stability and growth.
  13. Agro Supply Ltd. (Uganda, Agriculture)

    • About: Agro Supply is an agricultural company in Uganda that supports smallholder farmers by providing access to quality inputs, financing, and market linkages.
  14. Lapaire Glasses (Ivory Coast, Health Care)

    • About: Lapaire Glasses is a health care company that manufactures and distributes affordable prescription glasses, improving vision care accessibility in Ivory Coast.
  15. Deimos Cloud Pty Ltd. (South Africa, IT & Software)

    • About: Deimos Cloud offers cloud computing and IT services to businesses in South Africa, helping them leverage technology for improved efficiency and scalability.
  16. Alpha Morgan Capital Managers Ltd. (Nigeria, Fintech)

    • About: Alpha Morgan Capital is an investment firm in Nigeria that provides asset management, investment advisory, and financial planning services.
  17. Balancell Energy Pty Ltd. (South Africa, Manufacturing)

    • About: Balancell Energy specializes in the development and manufacturing of advanced energy storage solutions, including batteries and power management systems.
  18. Thrive Agric Ltd. (Nigeria, Agriculture)

    • About: Thrive Agric is an agricultural technology company in Nigeria that connects farmers with investors to provide the necessary capital and resources for increased productivity.
  19. Bisedge Ltd. (Nigeria, Logistics & Transportation)

    • About: Bisedge is a logistics and transportation company in Nigeria that offers supply chain management services, focusing on efficiency and reliability.
  20. Evolution Foods International Pty Ltd. (South Africa, Food & Beverages)

    • About: Evolution Foods is a food and beverage company in South Africa that produces a range of healthy and innovative food products for the local and international markets. 



According to the Financial Times, the ranking was based on a combination of factors including:

      • Public data research by Statista to identify potential candidates.
      • Company applications with revenue figures verified by senior leadership.
      • Minimum revenue thresholds for 2019 and 2022 to ensure financial viability.
      • Focus on companies with organic (internal) revenue growth.
      • Verification and data cleaning by Statista to ensure accuracy.

Here is the full report –

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