BusinessDay, Nigeria’s foremost business and financial newspaper, is inviting fast-growing companies in the country to apply for the Financial Times and Statista’s Africa’s Fastest Growing Companies ranking in 2023.
In Africa’s biggest economy, higher prices for food, fuel, and other raw materials are squeezing small business owners, forcing them to either cut back on production, fall into debt, or pass on cost increases to customers who are also feeling squeezed.
However, some fledgling start-ups and established powerhouses are making their entrepreneurial endeavours count against all odds.
Registration to be considered both for the Africa and Nigeria ranking is free of charge.
The research wants to identify the companies with the highest revenue growth between 2019-2022. Companies with an average revenue growth rate of at least 8 percent annually in this period are encouraged to register.
This initiative of the Financial Times, the UK-based global business and economics daily, and Statista, the German-based data giant, is the first of its kind. It is supported by BusinessDay, West Africa’s provider of premium market and financial intelligence.
The ranking of Africa’s fastest-growing companies will be featured online on FT.com and in a special report, following similar rankings and reports produced for Europe, the Americas and the Asia-Pacific region.
In the last few years, African companies, especially those which are into the provision of financial and telecommunications services have seen expansion in their operations within and outside of their regions.
Last year, six of the top 20 companies on the list were from Nigeria, with their operations ranging from financial services to real estate and retail.
The successful Nigerian companies are AFEX Commodities Exchange, MoniePoint, Sankore Securities Ltd, Alpha Morgan Capital Managers Ltd, Neveah Ltd, Bluecamp Ltd, Veritasi Homes and Properties Ltd, Comercio Partners Ltd, Tropical General Investment Ltd, Kawai Technologies Ltd, Paga Group Ltd, Foodco Nigeria Ltd, Rt Briscoe Plc and Flour Mills of Nigeria Plc.
All the details about the ranking and a list of FAQs can be found on Statista’s page www.statista.com/page/fastest-growing-africa.