Financial Times has released its inaugural list of the fastest-growing companies in Africa. Featured on this list is United Capital Plc, a leading investment bank and Pan-African financial services group headquartered in Nigeria.
The editorial titled ‘FT ranking: Africa’s Fastest Growing Companies 2022’ reflects trends across the corporate landscape in the continent, spotlighting companies that have achieved exponential growth despite the economic complexities of the pandemic. In curating this list, Financial Times, conducted a thorough examination of the official stated revenue data of about 900 public companies in Africa reviewing the highest compound annual growth (CAGR) in revenues between 2017 and 2020. This resulted in a much concise list of 75 companies operating in diverse sectors and leading the pack in Africa.
With an Absolute Growth Rate (AGR) of 44.4% and a Compound Annual Growth Rate (CAGR) of 13%, United Capital Plc ranked tops amongst financial services companies in Africa and Nigeria respectively. The organization’s revenue grew from a recorded $29.2 million in 2017 to $35.8 million in 2020.
With its financial and investment services spread across Africa, it is no surprise that United Capital Plc made this list as the institution continues to expand its suite of financial service offerings, diversify its digital and technological solutions, and maintain a streak of excellence in its financial results.
Other companies who made it into the list include Julius Berger (Nigeria), Zen Petroleum (Ghana), Anglo-American Platinum (South Africa), Wasoko formerly Sokowatch, Inc(Kenya), IHS Netherlands Holdco (Nigeria), amongst others.