The 2025 ranking of Africa’s top-performing firms reveals a clear and compelling pattern in the geographic spread of the continent’s fastest-growing companies, highlighting where business momentum is most concentrated across the region.
- Business Insider Africa presents African countries with the most top-performing companies in 2025
- The ranking is courtesy of the Financial Times’ Africa’s Fastest-Growing Companies 2025
- The 2025 ranking reveals the dominance of South Africa and Nigeria, which collectively contributed 79 out of 130 firms.
As highlighted in the Financial Times’ 2025 list of Africa’s fastest-growing companies, the continent’s entrepreneurial spirit continues to defy global economic challenges.
Produced in partnership with Statista, the annual ranking identifies firms that have achieved the highest compound annual growth rates in revenue between 2020 and 2023.
At the forefront are South Africa and Nigeria—two economic giants whose companies collectively account for over half of the 130 entries on the list.
According to the report, South Africa and Nigeria dominate the Financial Times’ ranking, with 79 out of 130 companies from these two nations—South Africa alone contributing 51.
This dominance indicates the depth of their economies and the challenges smaller countries face in establishing a continental presence.
It also highlights the resilience of established markets and the growing influence of sectors like tech, logistics, and finance in shaping Africa’s future growth leaders.
While South Africa accounted for more than 50 companies on the list, Nigeria made a significant impact by securing the top three positions.
Nigeria also claimed four spots in the top 10, while South Africa secured three.
Other notable countries contributing to the list include Zambia, Mauritius, and Rwanda
Where Africa’s top-ranked firms are based
According to the Financial Times, the table below shows the top 5 African countries with the highest number of top-performing companies in 2025.
| Rank | Country | Number of Companies |
|---|---|---|
| 1 | South Africa | 51 |
| 2 | Nigeria | 28 |
| 3 | Kenya | 12 |
| 4 | Morocco | 12 |
| 5 | Mauritius | 9 |
South Africa and Nigeria emerge as top business destinations in Africa, thanks to their large, diversified economies, robust infrastructure, and strategic importance in both regional and global markets.
These countries lead Africa’s economic landscape, providing vast opportunities for business growth, innovation, and expansion. Despite challenges such as political instability and regulatory barriers, both nations offer unparalleled potential for business success.
Meanwhile, countries like Kenya, Morocco, and Mauritius are also making notable progress. Despite facing their own economic challenges, these nations have demonstrated significant entrepreneurial growth.
Kenya and Morocco, each contributing 12 companies to the list, are asserting their presence, while Mauritius, with 9 companies, highlights the region’s growing potential for business innovation and expansion.
