Five Nigerian startups lead Africa’s fastest-growing companies list

A number of African startups across fintech, e-commerce, logistics, and technology sectors have been ranked among the fastest-growing companies on the continent, reflecting the rapid expansion of Africa’s digital economy.

The ranking highlights strong representation from Nigeria, South Africa, Zambia, Rwanda, and Mauritius, with Nigerian companies taking several spots on the list.

The firms are driving innovation in areas such as financial inclusion, pharmaceutical supply chains, communications infrastructure, and green logistics.

The ranking highlights the growing influence of African startups and technology-driven companies in solving key economic challenges while expanding rapidly across the continent.

Here are the top 12 fastest-growing companies in Africa and what they do:

1. OmniRetail Inc (Nigeria)  

OmniRetail, formerly known as OmniBiz, is a Nigerian B2B e-commerce platform that digitizes the FMCG supply chain for informal retailers. The company connects small retailers with manufacturers, distributors, and logistics partners while providing technology-driven access to working capital, helping improve efficiency and product availability across the retail ecosystem.

2. PalmPay Ltd (Nigeria)  

PalmPay is a leading fintech “super app” launched in 2019 and backed by Chinese smartphone company Transsion Holdings. The platform provides digital banking services including transfers, bill payments, savings options, and credit. It serves more than 35 million users and over 1.1 million merchants and agents. PalmPay’s Nigerian operations are led by Managing Director Chika Nwosu, while Greg Reeve served as its initial CEO.

3. Remedial Health Inc (Nigeria)

Remedial Health is a Nigerian health-tech startup founded in 2021 that focuses on improving Africa’s pharmaceutical supply chain. Through its B2B e-commerce and fintech platform, it provides pharmacies, hospitals, and clinics with access to genuine and affordable medicines, alongside inventory financing and management tools.

4. eShandi Financial Services Ltd (Zambia)

Founded by Chilufya Mutale-Mwila and Eugene Mwila, eShandi is a Zambia-founded fintech challenger bank offering AI-driven microloans, digital wallets, and insurance services. The company targets underserved individuals and SMEs across Zambia, Zimbabwe, South Africa, and Kenya, with a focus on financial inclusion.

5. AfricaWorks Group (Mauritius)

AfricaWorks is a pan-African flexible workspace provider founded in 2019. The company operates in several major cities including Lagos, Abidjan, Accra, and Cape Town, offering co-working spaces, private offices, and virtual office services to startups, SMEs, and multinational companies.

6. Paymenow Group (South Africa)

Paymenow is an earned wage access platform that enables employees to withdraw a portion of their earned salaries before payday. The service is designed to improve financial wellness and reduce workers’ reliance on high-interest payday loans.

7. GoBid Pty Ltd (South Africa)  

GoBid is a technology-driven salvage auction company that specializes in buying and selling used, accident-damaged, and non-runner vehicles through an online platform. The company operates multiple branches in South Africa and was acquired by WeBuyCars in 2025.

8. Inkomoko Entrepreneur Development Ltd (Rwanda)

Inkomoko is a Rwanda-based social enterprise founded in 2012 that supports refugee and host community entrepreneurs. The organisation provides business advisory services, financing opportunities, and market linkages aimed at fostering sustainable business growth and job creation.

9. Drive24 Pty Ltd (South Africa)  

Drive24 is a technology company that offers secure remote access to on-premises file servers and supports businesses in migrating their data systems to the cloud. Its solutions focus on improving accessibility and mobility for organizations.

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10. Termii Inc (Nigeria)  

Termii is an AI-native Communications-as-a-Service (CPaaS) platform founded in 2017. The company provides messaging infrastructure for businesses, enabling services such as OTP verification, alerts, and notifications via SMS, voice, and WhatsApp. Termii processes more than one billion communication events for over 10,000 customers.

11. Piaffe Flavours & Fragrances Pty Ltd (South Africa)  

Based in Cape Town, Piaffe Flavours & Fragrances specializes in creating custom natural and synthetic flavours and fragrances for the beverage, dairy, and confectionery industries, offering formulation and production support for food and beverage manufacturers.

12. Bisedge Ltd (Nigeria)  

Bisedge is a Nigerian green logistics company founded in 2016 and owned by Sunray Ventures. The firm focuses on electric material handling equipment, replacing diesel-powered forklifts with electric alternatives through an equipment-as-a-service model aimed at reducing emissions.