Private sector companies are increasingly playing a crucial role in the transformation of Africa’s agricultural sector. As part of its catalytic role, the Alliance for a Green Revolution in Africa (AGRA), has supported many start-up private companies across the continent. This has been particularly successful in the seed production sector where, together with its partners, AGRA has grown the number of seed companies from 10 in 2006 to over 100 today.
Three of these companies have received major global recognition with a listing on the London Stock Exchange Group’s (LSEG) inaugural ‘Companies to Inspire Africa’ (CTIA) report. The pioneering report showcases Africa’s leading private companies, with the most inspiring stories and strongest growth potential. The Rt.Hon. Priti Patel, MP Secretary of State, Department for International Development (DFID), UK lauds Companies to Inspire Africa as a product that showcases some outstanding stories of innovation, bravery and growth across the continent. “It brings Africa’s entrepreneurial spirit to an international audience”, she said.
The report creates a database of the fastest growing companies, showcasing vast investment opportunities and facilitating these companies’ advancement to their next stage of development. In order to be featured, companies had to be active, privately held and demonstrated growth over the past three years, with headquarters or their primary operations in Africa, and with less than $1 billion revenue per annum. The companies delivered impressive average compound annual growth rate (revenue) of 16% over a three year period 2013-2015
A total 343 companies from 42 African countries identified as the continent’s most exciting and dynamic small businesses were listed coming from in all regions of Africa, with highest concentration of companies from West Africa (31%), closely followed by East Africa (26%) and Southern Africa (22%). Kenya, South Africa and Nigeria are the countries with the most companies in the publication, each represented by over 50 companies.
These companies represent a wide range of sectors, including industry (23%), financial services (16%), consumer services (14%) and agriculture (13%) and were identified through a collation of nominations by key partners as well as Development Finance Institutions, Venture Capitalists, Private Equity Firms and Impact Investors.
Read more on the AGRA Website