Sundry Markets Limited, owners of Marketsquare, a leading indigenous retail chain in Nigeria, has been recognised as one of Africa’s top 50 fastest-growing companies for 2024 by the Financial Times.
The FT-Statista ranking highlights companies that have demonstrated exceptional growth, even amid economic hardship.
While many African economies grapple with post-pandemic recovery, Sundry Markets stands out for its ability to overcome both pandemic challenges and the continent’s broader economic struggles.
In its third edition, the report identified Nigeria, Africa’s third-largest economy, as experiencing a 2023 economic crisis marked by inflation and currency devaluation.
Despite these difficulties, Nigeria boasts the second-highest number of companies on the FT’s list.
The International Monetary Fund (IMF) reported Africa’s overall economic growth in 2023 at 3.2 per cent, lagging behind Asia’s near 5 per cent growth. This disparity is further amplified when considering Africa’s rapid population expansion.
Sundry Markets’ founder and CEO, Mr Ebele Enunwa, said, “It is a pleasure to be listed among the top companies across Africa for 2024. Getting listed has shown that we are moving in the right direction. From a humble beginning in 2015 and now, we have gained recognition across the continent. Sundry Markets has employed direct and indirect 5,000 people pan Nigeria.”
Sundry Markets currently has 31 stores located across 14 cities in Nigeria.
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