Kenya has overtaken Nigeria in the list of countries with the fastest-growing companies in Africa in the Financial Times ranking that places South Africa at the top, cementing its place as one of the continent’s dynamic business hubs. The Financial Times Africa’s Fastest-Growing Companies 2026 ranking, now in its fifth year, shows Kenya has leapfrogged Nigeria into second place behind South Africa in terms of the number of companies represented. South African companies consolidated their dominance notching up no fewer than 51 of the 130 fastest-growing businesses.That put South Africa ahead of Kenya with 17 top-ranked companies, Nigeria (16), Mauritius (12) and Tunisia, which made a firsttime appearance in the top 5, with 6. In Kenya, several big businesses Naivas and Kenya Airways have joined the usual roster of fintechs and start-ups. The ranking tracks revenue growth over the 2021–2024 period. The list includes relatively young firms such as General Printers 2021 Limited, M-Kopa, Kofisi Hospitality Group and The Avenue Group as well as established ones such as KCB Group, Co-operative Bank of Kenya, Kenya Airways (KQ), Kenya Power, Naivas, Quick Mart and Carbacid Investment.The ranking, compiled with research company Statista, is based on compound annual growth in revenues (CAGR), measuring how quickly firms have expanded their top line over the review period. Fintech, IT and software businesses dominate this year’s ranking, making up nearly 40 per cent of the companies on the list. Financial Times said this largely reflects the ranking’s methodology, whose focus on revenue growth favours asset-light start-ups in their ramp-up phase.However, manufacturing firms, which create more jobs and deploy more capital, formed third-largest sector in the ranking, followed by businesses in the energy and utility sector and hospitality and travel. Firms that made it to the list had a growth rate ranging from 9.27 percent (Roff Industries) to 311.17 percent to Thndr Technology Holding for Financial Investments from Egypt. South Africa extended its lead with 51 firms, one more than last year, while Nigeria’s numbers nearly halved to 16 from 28, relegating it to third place.Mauritius and Tunisia closed the top five with 12 and six firms respectively. Kenya’s representation on the list across sectors such as financial technology, retail, manufacturing and clean energy, signals diversification beyond the traditional dominance of banking and agriculture. The publication explains that to be included in the list, a company must have revenue of at least $100,000 (Sh12.92 million) generated in 2021 and $1.5 million (Sh193.8 million) in 2024, with the growth in the topline being organic. The firm must be an independent company (not a subsidiary or branch office of any kind) and headquartered in an African country.General Printers 2021 Limited was ranked as the fastest growing company in Kenya and 13th on the continent, with a CAGR of 118.49 percent in the four years through 2024. It was followed by Turaco Microfinance (72.01 percent), M-Kopa (43.01 percent), KQ (38.98 percent) and Carbacid (31.6 percent). The presence of mid-sized and established firms points to a corporate landscape where growth is no longer confined to start-ups. Companies are increasingly scaling into larger enterprises, supported by regional expansion and improved access to capital. Kenya’s rise to second place marks a shift in the continental pecking order, reflecting the growing depth and resilience of its private sector at a time when peers such as Nigeria face macroeconomic headwinds.Also featured in the list of top 10 fastest growing firms in Kenya were Fourth Generation Capital Group with a CAGR of 31.6 percent, Kofisi (27.25 percent), Greenlight Planet (26.28 percent) and KCB (22.89 percent). The ranking does not take into account events of last year and this year, including the shocks of the Middle East War, which is likely to reflect in future rankings as firms in emerging markets grapple with issues such as higher fuel prices. Companies such as M-Kopa, Kofisi, Greenlight Planet and Quick Mart point to the range of business models driving expansion — from asset-financing platforms and electric mobility solutions to modern retail chains tapping into changing consumer habits. (ICE NAIROBI)

Fonte notizia: Business Daily