Top 10 Fastest Growing Companies In Africa For 2025
Africa’s business landscape is evolving fast, and 2025 has proven to be a year of both resilience and reinvention.
Despite the ongoing headwinds, ranging from inflation and currency volatility to trade barriers and global shocks, some companies across the continent have continued to experience exponential growth.
According to the latest Financial Times ranking of Africa’s fastest-growing companies, Nigeria and South Africa, Africa’s two economic heavyweights, continue to lead the pack.
Over half of the 130 companies featured on the list hail from these two countries, with South Africa alone accounting for 51 entries.
This dominance reflects both the economic scale and deep entrepreneurial ecosystems of the two nations. On the flip side, it reveals the challenges faced by companies in smaller or less connected African markets, where cross-border expansion remains difficult in a fragmented regional economy.
To qualify for the FT list, companies had to meet several benchmarks: they needed to generate at least $100,000 in revenue in 2020 and $1.5 million in 2023, be independently owned, based in Africa, and show primarily organic growth over the period.
Now in its fourth year, the ranking, developed in partnership with research firm Statista, is based on compound annual growth between 2020 and 2023. And while the list offers a solid snapshot, it’s worth noting that many of Africa’s fastest-growing firms are privately held, meaning the data isn’t exhaustive.
Still, it gives us a compelling look at the companies making big moves across the continent.
| Rank | Company Name | Brand | Country | Sector | Absolute Growth (%) | CAGR (%) | Revenue 2023 ($mn) |
|---|---|---|---|---|---|---|---|
| 1 | Omniretail Inc | Omniretail | Nigeria | E-commerce | 71818.4% | 795.9% | 120.15 |
| 2 | Palmpay Ltd | Palmpay | Nigeria | Fintech, Financial Services & Insurance | 31850.0% | 583.6% | 63.90 |
| 3 | Remedial Health Inc | Remedial Health | Nigeria | Pharmaceuticals & Cosmetics | 8384.4% | 339.1% | 16.30 |
| 4 | Eshandi Financial Services Ltd | eShandi | Zambia | Fintech, Financial Services & Insurance | 5231.0% | 276.4% | 6.47 |
| 5 | The AfricaWorks Group of Companies | AfricaWorks | Mauritius | Real Estate | 3770.1% | 238.3% | 8.21 |
| 6 | Paymenow Group | Paymenow | South Africa | Fintech, Financial Services & Insurance | 3756.1% | 237.8% | 4.86 |
| 7 | Gobid Pty Ltd | Gobid | South Africa | Automotive | 3519.1% | 230.8% | 24.98 |
| 8 | Inkomoko Entrepreneur Development Ltd | Inkomoko | Rwanda | Fintech, Financial Services & Insurance | 2914.1% | 211.2% | 3.99 |
| 9 | Drive24 Pty Ltd | Drive.co.za | South Africa | Automotive | 2907.8% | 211.0% | 6.54 |
| 10 | Termii Inc | Termii | Nigeria | Media & Telecommunications | 2817.0% | 207.8% | 3.36 |
