London: 58 Nigerian Firms Name Among Africa’s Fastest Growing Private Businesses

The London Stock Exchange (LSE) in its inaugural ‘Companies to Inspire
Africa’ report launched in the United Kingdom yesterday, named 58
Nigerian companies among Africa’s fastest growing private businesses
.

The report identified 343 companies in 42 African countries, out of
which 58 Nigerian countries made it to the list of most exciting and
promising companies, including small businesses.

Industry represented the biggest sector in Nigeria, with 17 companies
featuring on the list, closely followed by consumer services, where 11
providers have been selected, demonstrating the success of Nigeria’s
efforts to diversify its economy.

The companies include Beloxxi Industries Limited, a biscuit
manufacturer in Nigeria as producer of popular brand Beloxxi Cream
Crackers; Interswitch – a Nigerian electronic payment processer; Mouka
Limited – one of Nigeria’s largest mattress manufacturers, producing a
wide range of bedding products; and Sigma Pensions, which gathers,
administers, and invests pension contributions on behalf of Nigerian
customers. It also named AXA Mansard, Africa Finance Corporation
(“AFC”), Bankers Warehouse, Fin Insurance and The Advans Group in the
financial services sector as well as Channels TV, Chams, GMT Nigeria
Limited and Wakanow.com in the other category.

Others are B & Q Dredging and Marine Logistics Limited, Broron Oil &
Gas, Capic Hexagon Nigeria Ltd, Dorman Long, DWC Drilling, Energy
Works Nigeria Limited, Gas Terminalling, Nagode Group, Nestoil
Limited, Ocean & Oil Investments Ltd, and Riggs Ventures (West Africa)
Ltd in the industry sector; Chi Farms, Food and agro-allied group,
Green Agriculture West Africa Limited, Olam International Limited and
Tomajos Farming and Processing Limited in the agriculture sector;
Africa Courier Express, Bridge International Academies, Erisco Foods
Limited and Food Concepts Plc in the consumer services sector, Saint
Nicholas Hospital Limited, Hygeia Nigeria Limited and Drugfield
Pharmaceuticals Ltd in the health/pharmaceutical sector.

Yesterday, company CEOs featured in the report were welcomed to London
Stock Exchange Group by the Rt. Hon. Priti Patel MP and Xavier Rolet,
CEO, London Stock Exchange Group at a special launch event to
celebrate African companies’ success, ambition and uniquely African
entrepreneurial spirit. They were also joined by a broad range of
Africa-focused investors, as well as senior representatives of African
Development Bank Group, CDC Group and PwC, all partners on the report.
UK International Development Secretary was at the launch of the report
with CEOs of some of the companies.

UK International Development Secretary, Priti Patel, who was also at
the launch of the report said, “London Stock Exchange’s first-ever
‘Companies to Inspire Africa’ report is proof of the dynamism and
vision of the City of London in supporting Africa’s growing economies.
Now is the time for UK businesses to seize the opportunities offered
by Africa, and the UK Government is supporting the City of London to
become the global financial centre for the developing world.

“This will help Africa industrialise faster, trade more and create
millions of jobs, driving the continent forward to a future of
prosperity, and helping some of the world’s poorest countries stand on
their own two feet.”

For his part, Xavier Rolet, Chief Executive, London Stock Exchange
Group said: “We are delighted to release the first edition of London
Stock Exchange Group’s ‘Companies to Inspire Africa’ report, which
follows the success of our research focused on the UK and European
SMEs. For the first time ever, we have identified hundreds of Africa’s
most inspirational and dynamic private companies. The report
demonstrates the huge role that small and medium sized enterprises are
playing as the driving force behind African economies: developing
skills, creating high quality jobs and delivering growth.

“London Stock Exchange has made it our mission for over 300 years to
support access to growth capital for small and large companies in all
parts of the world. We are proud to play our part in this great
economic journey by shining a light on Africa’s success stories. We
are also continuing to work in partnership with African stock
exchanges to help develop robust, efficient and transparent capital
markets to raise finance for companies like the ones listed in this
report and thousands of others to realise their potential.” ELANZANEWS.M

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