Nigeria, Kenya leads at London Stock Exchange's 'Companies To Inspire Africa 2019'

Nigeria and Kenya led the countries represented in the report of Companies To Inspire Africa 2019, with 97 and 66 firms respectively.

“Nigeria further built on its leading position established in the 2017 report with strong representation from the industry and technology and telecoms sectors,” the LSEG said in an emailed statement.

The report, which identifies 360 companies from 32 countries across the African continent with seven major sectors represented, featured companies including small entrepreneurial businesses through to well-established corporations.

Consumer services, industry and agriculture are the three biggest sectors, between them making up over 50 per cent of the companies featured. Technology and telecoms, and financial services together represent over 25 per cent of firms, while healthcare and education and renewable energy also feature strongly.

Some of the Nigerian firms listed are Kian Smith Trade & Co Limited, which is building the country’s first gold refinery; FSDH Merchant Bank Limited; Ladol Integrated Logistics Free Zone Enterprise; Jumia; Asharami Synergy Plc, BudgIT Foundation; Interswitch Limited; Ensure Insurance Plc; Lagos Business School, Pan-Atlantic University; North South Power Company Plc; Leadway Assurance Company Limited; Farmcrowdy Limited and Venia Group.

The report released Wednesday, was a celebration of Africa’s and most dynamic growth businesses.

To be included in the list, companies needed to be privately held, and show an excellent rate of growth and potential to power African development.

Commenting on the feat, Proshare’s CEO/Founder, Mr. Femi Awoyemi said, “this was a long way coming and the sacrifices to get here is beyond a founder and the committed staff that played a role in ensuring the service delivered on its goals.”

The Chief Executive Officer, LSEG, David Schwimmer, said the firms listed in last year’s report had already realised significant progress and achievements in the last 12 months in a variety of ways, including pursuing IPOs and issuing bonds to grow, while some had also undertaken cross-border expansion, both within the African continent and globally.

He said, “London Stock Exchange Group’s ‘Companies to Inspire Africa’ report showcases inspirational and entrepreneurial businesses from across the African continent, representing a wide variety of industries and countries. It is particularly encouraging to see the increasing influence of women in leadership roles in these fast-growing companies, playing a pivotal role in shaping the future of African business.

“These high-growth companies have the potential to transform the African economy and become tomorrow’s job creators. At LSEG, we are committed to helping companies realise that potential and we are pleased to highlight and celebrate the company success stories behind one of the world’s fastest growing markets.”

The report was produced in partnership with African Development Bank Group, CDC Group, PwC and Asoko Insight, and it is sponsored by Instinctif Partners and Stephenson Harwood.

The West Africa Regional Senior Partner, PwC, Uyi Akpata, said,

“We are extremely honored to partner again with London Stock Exchange Group for the second series of the ‘Companies to Inspire Africa’ report. At PwC, we view private businesses as a critical catalyst to job creation, economic growth, and innovation.

“Initiatives such as this help expose these companies to a global audience, and we hope will lead to further collaboration across border with London-based investors and strategic partners. It is also great to see the public sector represented here. It is an important testament to their commitment to supporting the private sector and continuing to drive improvements in ease of doing business.”

He said, “London Stock Exchange Group’s ‘Companies to Inspire Africa’ report showcases inspirational and entrepreneurial businesses from across the African continent, representing a wide variety of industries and countries. It is particularly encouraging to see the increasing influence of women in leadership roles in these fast-growing companies, playing a pivotal role in shaping the future of African business.

“These high-growth companies have the potential to transform the African economy and become tomorrow’s job creators. At LSEG, we are committed to helping companies realise that potential and we are pleased to highlight and celebrate the company success stories behind one of the world’s fastest growing markets.”

The report was produced in partnership with African Development Bank Group, 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.

Big Win For Proshare

Proshare Nigeria Limited, founded in December 2006, is a niche financial information service hub with a key focus on markets, business, technology, regulation, MSME, personal finance and economic development.

“Proshare’s remit is simple: to serve as a critical bridge between investors and markets.

“Yet the mandate extends beyond providing credible, reliable and timely financial information on a 24-hour loop through an institutionalised network of researchers, analysts, contributors, and content owners; to being the standard bearer for governance practices, fact based intervention, local investment data and market informatics.

“We are organised as a professional practice to provide accountability in our role of opening up the market place by complementing regulators and self-regulatory organisation’s to shape conversations, advocate on key change imperatives, hold the system accountable in a collaborative manner and raise the bar through the way we conduct our engagements.

“Our goal is to facilitate the information needs of a vibrant, productive and growing African economy,” a statement from Proshare yesterday explained.

Full report can be accessed here: Companies To Inspire Africa 2019

Header Image Credit: Proshareng.com