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Neveah makes Financial Times’ 2023 Africa’s Fastest Growing Companies ranking

Neveah makes Financial Times’ 2023 Africa’s Fastest Growing Companies ranking

The Financial Times, a leading world business newspaper and renowned digital publication has released its annual ranking list of Africa’s fastest-growing companies.

The ranking listed Neveah Limited, an indigenous commodities export company, ahead of several top brands in Africa. Neveah ranked high on the list of leading renowned companies like Julius Berger, Dangote PLC, MTN, Sterling Bank, and Flour Mills, amongst others. The publication was released on Tuesday, May 2, 2023.

Neveah was ranked 18 on the list of FT/Statista 2023 Africa’s Fastest-growing companies. Known for commodities export, the organisation places priority on delivering quality products at great prices.

According to Financial Times and Statista, the compound annual growth rate (CAGR) in revenue from 2018 to 2021 was a major criterion for listing.

In five years, Neveah Limited has recorded a Compounded Annual Growth Rate (CAGR) of 68 percent and 176 percent on revenue and profitability respectively. It has also registered a N10 billion commercial paper with FMDQ Exchange in 2021, raised a total of N14.96 billion and has currently repaid N14.54 billion.

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“We are delighted to be recognised as one of the fastest growing firms in Africa by Financial Times,” Ibidapo Lawal, CEO of Neveah Ltd, said in a statement.
According to him, “This great feat has been achieved through an ability to take calculated risks, consistent business and human development, and our commitment to best practices. We hope to keep achieving greater milestones as we go ahead to build a world-class commodities export firm but nevertheless, this ranking goes to show just how far we have come in the last years.”

Neveah Limited is a leading indigenous export company in Nigeria that deals in agricultural commodities, base metals, and minor metals. The company exports to over 15 countries in Europe and Asia, with its major markets also spanning across North America.

Working closely with select suppliers for its materials, Neveah provides the best products at the most affordable prices to its global customers.

In 2022, Neveah Limited was awarded Sectoral Exporter of the Year by the Nigerian Export Promotion Council (NEPC).