Seventeen Nigerian companies, including fintech Moniepoint Inc. and hospitality giant Transcorp Hotels Plc, have been listed among Africa’s fastest-growing companies in 2025, according to the latest Financial Times (FT) ranking in collaboration with Statista.
FT’s 2025 Africa Fast Growth List: Nigeria Shines Bright
The FT ranking, now in its fourth year, evaluates the compound annual growth rate (CAGR) of companies from 2020 to 2023. The 2025 list features 125 top-performing companies across the continent, with South Africa and Nigeria leading the charge with 51 and 28 companies, respectively. This underscores their pivotal role in driving Africa’s economic development and innovation.
Top Nigerian Companies Ranked by Growth
Among the standout Nigerian firms, the following made headlines:
- Omniretail Inc.—An e-commerce platform that recorded a mind-blowing 71,818% CAGR, leading all companies on the list.
- PalmPay Ltd.- mobile financial services company with an impressive 31,850% CAGR.
- Remedial Health—a pharmaceutical supply chain disruptor reporting 8,384% CAGR.
- Moniepoint Inc., a top fintech unicorn in Nigeria, posted a 1,663% CAGR. Known for its early dominance in agency banking, Moniepoint has expanded into business banking, currently serving over 1.6 million businesses across Africa.
- Transcorp Hotels Plc —a legacy hospitality company and subsidiary of Transnational Corporation of Nigeria, showing 329.5% CAGR, highlighting strong post-COVID recovery.
These companies represent Nigeria’s strength across diverse sectors, including e-commerce, fintech, healthcare, hospitality, logistics, telecommunications, IT, advertising, and aviation.
Africa’s Growth Story: Concentrated but Promising
Despite the achievements, the FT report notes a concentration of rapid growth in just a few African economies. It highlights persistent challenges limiting cross-border expansion, including:
- Infrastructure deficits
- Currency volatility
- Inconsistent regulatory frameworks
These barriers continue to hinder pan-African scale-ups, even as startups and legacy firms alike push for innovation and growth.
The 2025 FT ranking underscores Nigeria’s robust entrepreneurial spirit and the scalability of its homegrown enterprises. With fintech leaders like Moniepoint, health tech disruptors like Remedial Health, and legacy players like Transcorp Hotels driving strong growth, Nigeria continues to cement its status as a leading hub for African innovation and business expansion.
