Financial Times has named United Capital Plc, a foremost Nigerian investment bank, as one of Africa’s fastest-growing companies for the second consecutive year.
The announcement was made in a report compiled by Statista, a global market research and data analytics company titled ‘FT ranking: Africa’s Fastest Growing Companies 2023’.
With an absolute growth rate (AGR) of 95.1 per cent and a compound yearly growth rate (CAGR) of 24.9 per cent, United Capital ranked top amongst financial services companies in Africa.
According to the report, the financial conglomerate achieved a growth in revenue from $25.6 million in 2018 to $44.8 million in 2021. The ranking identifies the top-performing companies in Africa’s private sector, reflecting trends across the continent’s corporate landscape, and spotlighting companies that have achieved exponential growth in their respective sectors.
This year, particularly, the list showcases the top 100 companies that have not only managed to stay afloat but also achieved tremendous growth despite the economic challenges.
“We are delighted to be named one of Africa’s fastest-growing companies by the Financial Times for the second year in a row,” Group CEO of United Capital, Peter Ashade.
