Companies to Inspire Africa 2019 Report: Nigeria Dominates Africa’s Most Inspiring Businesses’ Ranking

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The companies to inspire Africa 2019 report was recently launched in Lagos. Though the report was announced in January, it was just recently officially launched in Lagos. This is the second edition of the companies to inspire Africa report. The report was published by the London Stock Exchange Group with support from PwC and other partners. The companies to inspire Africa 2019 report featured 97 Nigerian firms. This 97 firms accounted for 27 per cent of the total list. This was the highest among countries surveyed in the region.

Companies to Inspire Africa 2019 Report: Nigeria Dominates Africa’s Most Inspiring Businesses’ Ranking

About the Companies to Inspire Africa 2019 Report

The companies to inspire Africa 2019 report, identifies and celebrates Africa’s most inspiring businesses. It identifies the continent’s most inspirational and dynamic private, high-growth companies to a global market. According to PWC and London Stock Exchange Group, the report is published because they believe that the high growth firms are crucial to the future of the African economy. They believe that they are capable of driving transformative economic growth in their home countries, Africa and beyond. The companies to inspire Africa 2019 report featured 360 companies from 32 different countries across the continent.

These firms boast an incredibly impressive average compound annual growth rate of 46%, up from 16% last year. The firms featured on the list on an average employ over 350 people, with an average compound annual employee growth rate of 25%.  The report featured firms from a diverse range of industry sectors. Customer Services, Industry and Agriculture were the three biggest ones, accounting for over 50 per cent of the companies featured. Technology and Telecoms, and Financial Services together represent over 25 per cent of firms, while Healthcare & Education and Renewable Energy also feature strongly.

More Details on the Companies to Inspire Africa 2019 Report

About 23 per cent of the senior executives of the companies featured were female, a near doubling from 12 per cent in the first edition. The report featured 97 Nigerian companies, this makes up for about 27 per cent of the report. Some of the Nigerian companies listed include Renmoney, Paystack, Olori Cosmetics, BudgIT Foundation, Tizeti, among others.

PWC and LSE Speaks on the Companies to Inspire Africa 2019 Report

Country Senior Partner at PwC Nigeria, Uyi Akpata spoke about the report. He expressed the firm’s excitement to partner with LSE to create this report. Akpata also reiterated the firms support to private companies and helping them create value.

Co-Head Emerging Markets at LSE, Ibukun Adebayo also spoke about the report. He stated that they compiled the list to put a spotlight on Africa’s private sector successes. Also, the report presents the listed companies additional investment opportunities and facilitate partnerships and collaborations. He also talked about how firms listed on the first edition report have already started to see significant progress, pursuing IPOs, issuing bonds and expanding across borders.

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