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Nigerian Startups Shine on Financial Times’ Africa’s Fastest-Growing Companies List

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  • Six Nigerian startups have been listed on the Financial Times’ 2024 ranking of Africa’s Fastest-Growing Companies.

  • The startups, including Moniepoint, PalmPay, and Paga, have demonstrated rapid revenue growth and operational resilience.

Six Nigerian startups have made it to the prestigious Financial Times’ 2024 ranking of Africa’s Fastest-Growing Companies. The list, produced in partnership with research company Statista, features 130 high-growth firms across the continent.

The Nigerian startups that made the list are Moniepoint, OmniRetail, PalmPay, Termii, Remedial Health, and Paga. These companies have demonstrated remarkable revenue growth, headcount expansion, and operational resilience despite economic challenges.

Moniepoint’s Group CEO, Tosin Eniolorunda, expressed delight in achieving the highest ranking for the third consecutive year. “We like to let statistics speak for themselves, and accolades do not come much higher. Maintaining such rapid growth is only possible due to the hard work of the entire Moniepoint team—and I thank them all for their continued dedication.”

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Paga’s CEO, Tayo Oviosu, said, “This milestone coincides with our 16th anniversary, a testament to our team’s dedication and the trust our customers place in us. We’ve built a profitable business scaling at venture growth levels and are on an exciting trajectory.”

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Remedial Health’s CEO, Samuel Okwuada, added, “This recognition is a reflection of the tremendous impact our technology is having on healthcare delivery in Africa, starting in Nigeria. We’re building the infrastructure for a more efficient, data-driven, and profitable healthcare ecosystem, and we’re just getting started.”

The Financial Times’ ranking has become a key barometer for investor interest and global visibility, highlighting the potential of African startups to build durable businesses with wide-scale user adoption.

 

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