Most of the companies which the Nigerian Stock Exchange (NSE) is hunting to meet its new listings target are very much within.
This comes as no fewer than 97 Nigerian firms are identified by the London Stock Exchange Group (LSEG) as crucial in powering the next stage of Africa’s growth.
These Nigerian companies were named in the report ‘Companies to Inspire Africa 2019’ which featured 360 companies from 32 different countries across the continent.
These companies are said to be boasting an incredibly impressive average compound annual growth rate of 46 percent, up from 16 percent last year.
Most of the identified companies should be attractive for listing on the NSE if well engaged by the bourse.
The LSEG said the firms it listed in 2018 ‘Companies to Inspire Africa’ report have already realised significant progress and achievements in the last 12 months in a variety of ways, including pursuing Initial Public Offerings (IPOs) and issuing bonds to grow, while some have also undertaken cross-border expansion, both within the African continent and globally.
“The growth rates and sector diversity of the firms featured highlight their potential to transform the African and wider economy and become the big global job creators of tomorrow,” said David Schwimmer, CEO, London Stock Exchange Group.
“While capital markets have long been associated with larger companies, 23 years ago we did something different, launching a capital market specifically for high-growth potential companies, Alternative Investment Market (AIM). It is now the most successful global growth company market in the world and has raised over £110billion for nearly 4,000 companies in little over two decades,” Schwimmer said.
The list features a diverse range of industry sectors, painting an encouraging picture of the future of the African economy. Consumer services, industry and agriculture are the three biggest sectors, between them making up over 50 percent of the companies featured. Technology & telecoms and financial services together represent over 25 percent of the firms, while healthcare & education and renewable energy also feature strongly.
The identified Nigerian companies said to be crucial for the future of the African economy include 3 Wise Pixels Ltd, AACE Food Processing and Distribution Ltd, ACIOE Associates Ltd, AFEX Commodities Exchange Ltd, Afriland Properties Plc, Alpha Mead Group, Anadariya Farms Industries, ARM Life Plc, Asharami Synergy Plc, Avon Healthcare Ltd, Axiom Learning Solutions Ltd, B&Q Dredging And Marine Logistics Ltd, Babban Gona Farmer Services Ltd, Backbone Connectivity Network (Nigeria) Ltd, Bankers Warehouse Plc, Beloxxi Industries Ltd, Black Pelican Ltd, Blink Studios Ltd, BudgIT Foundation, and Co-Creation Hub Ltd.
De Flight Medics Ltd, EAEH Investment Ltd, Eat‘N’Go Ltd, Energy Works Technology Ltd, Ensure Insurance Plc, Farmcrowdy Ltd, Fibre Lifestyle Technologies Ltd, Filmhouse Ltd, Food Concepts Plc, Frigate Upstream and Energy Services Ltd, FSDH Merchant Bank Ltd, Gas Terminalling, Green Village Electricity Projects Ltd, Greenfield Assets Ltd, Guscorp Integrated Services Ltd, Hi Nutrients International Ltd, Imperial Educational Services, InfoWARE Ltd, Internet Solutions Nigeria Ltd, Interswitch Ltd, and Lagos Business School, PanAtlantic University are also on the list.
“Africa’s new and rapidly growing businesses – some of which are showcased in this report – represent the strong heartbeat of this continent’s economies, bringing innovative products to more markets, transforming services, and creating the millions of jobs we need for current and future generations,” said Emma Wade-Smith Obe, UK Trade Commissioner for Africa.
“These impressive companies represent just the tip of a very large iceberg of talented and inspiring people who are building Africa’s international businesses of tomorrow. The Companies to Inspire Africa initiative provides a great platform to highlight the innovation taking place across the continent, and hopefully bring even more investment and partnerships to help these businesses continue to expand,” Obe said.
The report was produced in partnership with African Development Bank Group (AfDB), CDC Group, PWC and Asoko Insight who contributed their insight and expertise to select the featured companies, and the report is sponsored by Instinctif Partners and Stephenson Harwood.
“The mobilisation of capital to support their growth and contribution to global trade represents our best hope for a mutually beneficial future,” said Lord Boateng PC DL, chairman, African Enterprise Challenge Fund.
Other Nigerian companies identified in the report are iSON GROUP, Jumia, JustFood Ltd, Kachifo Ltd, Kian Smith Trade & Co Ltd, L.A.T Cleveson Ltd, LADOL Integrated Logistics Free Zone Enterprise, Lagoon Hospitals Group, Lakeshore Cancer Clinic Ltd, Landmark Africa Group, Layer3, Leadway Assurance Company Ltd, MainOne Cable Company Nigeria Ltd, MAX.ng, Mayor Farms & Agro Services Ltd, Me Cure Industries Ltd, Mojec International Ltd, Mouka Ltd, Nagode Group, Niger Delta Exploration and Production Plc, North South Power Company Ltd, Northwest Petroleum and Gas Company Ltd, Olori Cosmetics, OneFi Ltd, Pagatech, Parthian Partners Ltd, Paystack Payments Ltd, and Petrogap Oil and Gas Ltd.
The list includes Phase 3 Telecom Ltd, Printivo Ltd, Proshare Nigeria Ltd, PZ Cussons Nigeria Plc, REDAVIA GmbH, RenMoney MFB Ltd, Rensource Distributed Energy Ltd, Royal Power And Energy Ltd, Sapient Vendors Ltd, Seamfi x Nigeria Ltd, SecureID Nigeria Ltd, Seven-Up Bottling Company Plc, Social Lender, St. Nicholas Hospital Ltd, Swift Networks Ltd, SystemSpecs Ltd, Techadvance Ltd, Techblow Nigeria Ltd, Terragon Ltd, Tizeti Network Ltd, Urban Shelter Ltd, Value Seeds Ltd, Vatebra Ltd, Venia Group, Venture Garden Group, Wakanow.com Ltd, Whogohost Ltd, and WorldWide Commercial Ventures Ltd.
“On my recent visit to Africa in August 2018, I met leaders, entrepreneurs and young professionals who are building exciting futures for their communities, their countries and their continent. Their message to me was simple: they want to unlock private sector investment to create jobs, improve incomes and the quality of their lives, and power the next stage of Africa’s growth. Africa is home to five of the world’s fastest-growing economies, and is being driven by young and growing populations. This year, Companies to Inspire Africa once again showcases and celebrates the businesses and entrepreneurs at the heart of this movement,” said Theresa May, UK Prime Minister.
Iheanyi Nwachukwu
