The London Stock Exchange (LSE) has listed 58 companies in Nigeria among the 343 inspiring companies in Africa for 2017.
The inaugural edition of the London Stock Exchange Group’s Companies to Inspire Africa report indicated that the companies listed in the report are “fuelling growth” on the continent.
Some of the companies that made the list include Beloxxi Cream Crackers, FanMilk, MallforAfrica, Mouka, Sigma Pensions and MonuRent.
With 53 companies listed, South Africa recorded the second highest number of companies that will inspire growth in Africa in 2017, behind Nigeria.
West Africa had highest number of companies listed with 124 companies, followed by Southern Africa with 90 companies, then Northern Africa with 61 companies and the Central Africa with 18 companies.
The report stated that the companies listed and profiled boast an impressive average compound annual growth rate of 16 per cent and on average, each firm employs nearly 400 people.
Analysis of the report showed that while industry, including, for example, construction and mining, is the biggest sector to be represented at 23 per cent of companies in the report, it is also encouraging that Financial Services is the second biggest sector at 16 per cent.
The report listed companies from agriculture, healthcare, pharmaceutical, and many more.
“The composition of companies featured clearly shows a community of businesses that is richer and more varied than previously identified. It also highlights the unique role of female entrepreneurship, with approximately 12 per cent of these high-growth companies led by female entrepreneurs, three times the average for companies across Africa,” the report stated.