FT ranking: Africa’s Fastest Growing Companies 2022(FT)
From banks to education providers, and from start-ups to established businesses, companies have shifted further online and sought fresh solutions for customers and societies as a whole. Wasoko, formerly Sokowatch, which heads the ranking, is one of several on the continent seeking to cut the cost of doing business in the massive informal commerce sector, by helping to deliver goods to traders more efficiently. The Kenyan company achieved the highest compound annual growth in revenues between 2017 and 2020 and, in March, raised $125mn in a Series B funding round. Kenya is the third most represented country in the ranking, with nine companies, behind South Africa (24) and Nigeria (20), and ahead of Egypt (six). These are also the markets that have attracted the most venture capital and where unicorns (companies valued at $1bn+) and would-be unicorns have proliferated. Click here to read full article.
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