- 50 Kenyan companies listed in London Stock
Exchange Group’s inaugural ‘Companies to Inspire Africa’ report
- Collectively, Kenyan companies make up 14 per cent of the total
number of companies in the report, one of the highest concentrations of high
growth companies in Africa.
Report shows breadth and diversity of African business, with
42 countries across 7 major sectors represented highlighting strong company
performances and the potential for these firms to become the next corporate
champions powering Africa’s future economic and social development.
 |
| Xavier Rolet, Chief Executive, London Stock Exchange Group |
UK Secretary of State for International Development, the Rt.
Hon. Priti Patel MP joined the company CEOs to open trading in London with
plans underway to celebrate those included in the report at an event in Nairobi
on 12 May 2017.
Almost half of the Kenyan companies listed operate in
innovative industries, with 14 companies in the renewable energy space and 11
in technology and telecoms.
A total of 50 companies operating in Kenya made it in London
Stock Exchange’s inaugural ‘Companies to Inspire Africa’ report which collectively
make Kenyan companies make attain a 14 per cent of the total number of
companies in the report.
This makes Kenya as one of the highest concentrations of
high growth companies in Africa. In the report, 28 per cent of Kenyan companies
operate in the renewable energy space, reflecting the country’s preeminent role
in exploring alternative energy production on the continent.
Amongst those from the country are:
Cellulant – a mobile commerce company operating a payments
ecosystem which connects financial sector customers, Mobile Network Operators
and businesses to their consumers.
D.light – a solar energy company delivering affordable solar
home and power solutions for people without access to reliable energy.
Eaton Towers – owns and manages a network of
telecommunications towers in Africa
Shop Soko – an ethical fashion brand and mobile
technology-enabled supply chain platform
The report in numbers:
The report identifies 343 companies from 42 African
countries as the continent’s most exciting and dynamic small businesses. Notably,
the companies delivered impressive average compound annual growth rate
(revenue) of 16 per cent over a 3 year period 2013-2015 with fast-growing companies
appearing in all regions of Africa.
Highest concentration of companies from West Africa with 31
per cent of companies, closely followed by East Africa with 26 per cent and
Southern Africa with 22 per cent.
South Africa, Kenya and Nigeria are the countries with the
most companies in the publication, each represented by over 50 companies with fast-growing
companies are present across a wide range of sectors.
The report shows strong representation from innovative
industries, with 22 companies in renewable energy and 40 in technology &
telecoms Industry.
Areas such as oil and gas, construction, manufacturing and
chemicals, is the biggest sector, with 23 per cent of companies in the report,
followed by Financial Services which includes mobile banking, micro-credit,
disruptive technology and Fintech, with 16 per cent, indicating that the
continent has great promise for both traditional and more recent economic
success stories.
The 47 consumer services companies corroborate the trend of
burgeoning consumer demand and growth of the middle-class across the entire
continent.
Report however, highlights important role of female
entrepreneurship indicating 12 per cent of the companies in the report are led
by female CEOs, three times the average for companies across Africa.
The company CEOs who 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.
International Development Secretary, Priti Patel 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.”
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.” Adds Rolet.
“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.” Opines
Rolet.
LSEG’s “Companies to Inspire Africa” report included
contributions from government, including from the UK Secretary of State for
International Development, the Rt Hon Priti Patel MP; Vice-President of the
European Commission, Jyrki Katainen; the Maltese Minister of Finance, Prof
Edward Scicluna; and Lord Boateng, former UK High Commissioner to South Africa.
The report was produced in partnership with African
Development Bank Group, CDC Group and PwC who contributed their expertise to
the report, and is sponsored by Citi, Diamond Bank and FTI Consulting.
Companies to Inspire Africa is part of LSEG’s broader
support campaign for ambitious SMEs which includes ELITE, the innovative
programme now counting almost 500 international businesses. LSEG is planning
further regional events in major African cities throughout April and May 2017,
as follows:
·
26 April, Abidjan, Côte d’Ivoire
·
27 April, Lagos, Nigeria
·
9 May, Casablanca, Morocco
·
12 May, Nairobi, Kenya
·
29 May, Johannesburg, South Africa.
Among Kenyan listed companies are: Acorn Group, Helios Investment
Partners, Azuri Technologies Ltd, BBOXX Kenya Ltd, BitPesa, Brookside Dairy Ltd,
Cellulant, Chandaria Industries, Craft Silicon, d.light and Java.
A full searchable database of all the companies along with a
downloadable pdf of the publication can be found online at lseg.com/inspireafrica
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