17 Nigerian Firms Named Among Africa’s Fastest-Growing Companies in 2025
The Financial Times, in partnership with Statista, has released its annual ranking of Africa’s Fastest-Growing Companies, with 17 Nigerian firms making the cut.
The list, which tracks compound annual revenue growth between 2020 and 2023, features a diverse range of companies from Nigeria, including fintech giant Moniepoint Inc., hospitality leader Transcorp Hotels Plc, and e-commerce platform Omniretail Inc.
Nigeria dominated the list with 17 companies, including:
1. Omniretail Inc. – 71,818% growth rate
2. PalmPay Ltd. – 31,850% growth rate
3. Remedial Health – 8,384% growth rate
4. Moniepoint Inc. – 1,663% growth rate
5. Transcorp Hotels Plc – 329.5% growth rate
Other Nigerian companies on the list span various sectors, including healthcare, logistics, telecommunications, IT, advertising, and aviation.
The ranking highlights the economic dominance of South Africa and Nigeria, with 51 and 28 companies respectively making the list.
This reflects their significant roles in Africa’s economic and entrepreneurial landscape.
Despite the success of firms in Nigeria and South Africa, the report notes that growth is concentrated in just a few economies, pointing to the ongoing fragmentation of African markets.
The challenge for many companies across the continent remains expansion beyond national borders due to infrastructure gaps, inconsistent regulatory environments, and currency instability.
The full list of Nigerian companies that made the ranking includes:
1. Omniretail Inc.
2. PalmPay Ltd.
3. Remedial Health
4. Moniepoint Inc.
5. Transcorp Hotels Plc
6. [Other 12 companies]
The ranking highlights the opportunities and challenges facing African companies, particularly in Nigeria and South Africa.
While these economies dominate the list, there is still room for growth and expansion, particularly in the fintech, e-commerce, and healthcare sectors.
However, companies must navigate the challenges of infrastructure gaps, regulatory environments, and currency instability to achieve success.
Overall, the Financial Times ranking provides a snapshot of Africa’s fastest-growing companies, highlighting the continent’s economic potential and the opportunities and challenges facing its businesses.
