Flour Mills of Nigeria Plc (FMN), food and Agro-allied company, has been recognised by the Financial Times as one of the fastest-growing companies in Africa.
The Financial Times compiled the ranking with data company Statista and based findings on compound annual growth rate (CAGR) in audited revenues from 2018 to 2021.
“The Financial Times recognition of Flour Mills of Nigeria is a testament to the Group’s commitment to sustainable growth and development in the African market,” a statement from the company said.
“For over six decades, the Group has made significant investments in the development of local content and the build-up of human capacities through its commitment to sustainably feeding the Nation, everyday.”
“For the past six decades, we have been consistent in affording our consumers superior quality products which endeared many to our brands,” Boye Olusanya, the group’s GMD/CEO said in a statement.
“And because our business is ultimately about providing for the livelihoods of millions of families, we have also continued to innovate across all our value chains,” he said.
“It is therefore quite applaudable that we got the recognition from Financial Times as it is a testament to our unwavering commitment to excellence, innovation, and sustainable growth not just in Nigeria but gradually across the continent,” he added.
Olusanya said FMN’s growth strategy has been centered around the development of local content, investing in people and technology, and driving efficiencies in our operations.
“The group has also been focused on delivering value to our customers through a diverse portfolio of products and services.”