NAIROBI, Kenya – A landmark report, ‘Companies to Inspire in Africa’ has launched, identifying the fastest-growing and most dynamic private businesses across Africa.
The report shows the breadth and diversity of African business, with 42 countries across seven major sectors represented. It also highlights strong company performances and the potential for these firms to become the next corporate champions powering Africa’s future economic and social development.
The report identifies 343 companies from 42 African countries as the continent’s most exciting and dynamic small businesses. Companies delivered impressive average compound annual growth rate (revenue) of 16% over a three-year period 2013-2015.
Fast-growing companies appear in all regions of Africa. The highest concentration of companies are from West Africa with 31% of companies; closely followed by East Africa with 26% and Southern Africa with 22%.
South Africa, Kenya and Nigeria are the countries with the most companies in the publication, each represented by over 50 companies.
Fast-growing companies are present across a wide range of sectors. There is strong representation from innovative industries, with 22 companies in renewable energy and 40 in technology and telecoms.
Oil and gas, construction, manufacturing and chemicals, is the biggest sector , with 23% of companies in the report, followed by financial services which includes mobile banking, micro-credit, disruptive technology and Fintech, with 16%, 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.
The report also highlights the important role of female entrepreneurship: 12% of the companies in the report are led by female CEOs, three times the average for companies across Africa.
Company CEOs featured in the report were welcomed to London Stock Exchange Group by British MP Priti Patel 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.
“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.”
A full searchable database of all of the companies in the report, along with a downloadable pdf of the publication can be found online at: lseg.com/inspireafrica.
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.
Nissan SA’s Whitfield given Egypt portfolio
CAPE TOWN – Nissan South Africa and sub-Saharan Africa managing director Mike Whitfield has been appointed managing director of Nissan Motor Egypt.
The Japanese-based group said yesterday that Whitfield would also serve as chairperson of Nissan in Africa South as it announced changes in its senior management structure in Africa to drive growth.
Africa is seen as the last frontier for global carmakers. The group said Whitfield would be based in Cairo and his appointment would be effective from June 20.
Whitfield, a former president of the National Association of Automobile Manufacturers of South Africa and vice-president of the African Association of Automotive Manufacturers, joined Nissan in 1981 as a marketing trainee.
Since then he has held a variety of senior positions before being appointed as Nissan SA’s managing director in 2008. “Under his leadership, Nissan posted a record market share in South Africa of more than 10 percent in the last financial year, the highest this century,” the group said.
It said Shinkichi Izumi would succeed him as the managing director of Nissan South Africa.
“Nissan has a plan for rapid and sustainable growth in Africa. We were the first to assemble cars in Nigeria and our ambition is to lead the way in developing automotive manufacturing on the continent,” said the chairperson of Nissan’s Africa, Middle East and India region, Peyman Kargar.
Smile Telecoms Appoints Ahmad Farroukh As New Group Chief Executive Officer
Irene Charnley, founder of Smile, appointed as Deputy Chairman
PORT LOUIS, Mauritius, May 21, 2019 – Ahmad Farroukh, Smile Group Executive Director Operations, appointed as Group CEO; Irene Charnley, founder of Smile, appointed as Deputy Chairman.
Smile Telecoms, a Pan-African telecommunications group with operations in Nigeria, Uganda, Tanzania and the Democratic Republic of the Congo, today announces the appointments of Mr. Ahmad Farroukh as Group Chief Executive Officer and Ms. Irene Charnley as Deputy Chairman, respectively, effective 1 June 2019.
Ahmad Farroukh, who currently serves as Smile’s Group Executive Director Operations, is a seasoned and experienced telecoms executive with a distinguished record of commercial and operational success. Mr. Farroukh’s vast experience extends to executive management positions at Investcom Holdings and the MTN Group (where he served as CEO of MTN Nigeria, MTN South Africa and Group Chief Operating Executive, responsible for 19 countries) and immediately prior to joining Smile, as CEO of Mobily, Saudi Arabia’s second largest telecommunications operator. Given the extent of the opportunity and the significance to Smile, Ahmad will spend the majority of his executive time in Nigeria.
Hailed as one of Africa’s most successful business leaders, Smile Telecoms founder and shareholder, Irene Charnley has led the Company’s innovation and pioneering of Africa’s first 4G LTE network infrastructure, using low band spectrum in 800MHz band. thereby revolutionizing the way people in Africa accessed high speed internet. After 12 years at the helm, Ms. Charnley will now serve as Deputy Chairman for the Company and will fulfil a strategic role.
Commenting on the announcement, Mohammed H. Sharbatly, Smile’s Co-Chairman and Group CEO of Smile’s majority shareholder, Al Nahla Group of KSA, said “The Africa telecoms market is as dynamic as it is challenging, and Ahmad is suited to lead Smile’s next exciting phase of growth, as we have transitioned from a spectrum rich upstart to the fastest, most reliable data gigabyte factory in Sub-Sahara Africa. We are equally delighted that Irene will continue to serve the company she founded as Deputy Chair, and we look forward to her ongoing strategic direction and guidance.”
“The next phase for Smile will focus on delivering excellent operational returns, achieving profitability and creating value for all stakeholders, and I believe that Ahmed is best suited to lead the Company forward in this regard”, added Irene Charnley.
“Africa is experiencing explosive data growth, and I am honoured to have the opportunity to lead the operations of one of the continent’s best 4G LTE networks at this exciting time. It has also been a revelation after over 20 years in the industry to witness the power and versatility of Smile’s proprietary technology applications platform, which was developed in-house and provides a huge competitive and cost advantage,” concluded Ahmad Farroukh.
Smile Telecoms Holdings Ltd.
General Electric appoints Eric Amoussouga as GE Francophone Africa CEO
Eric is also Sales Director for GE’s Grid Solutions Business across Sub-Saharan Africa
ABIDJAN, Ivory Coast, April, 2019 — General Electric (GE) has announced the appointment of Eric Amoussouga as the Chief Executive Officer for Francophone Africa. In this position, Eric will play a pivotal role in steering the next phase of strategy and growth for GE in Francophone African markets.
Based in Abidjan, Eric will lead the development of diverse programs with public and private sector projects and partnerships across Francophone Africa.
Commenting on the appointment, Farid Fezoua, President and CEO, GE Africa, reiterated GE’s commitment to work together with government and private sector order to develop public private partnerships and sustainable outcome-based solutions.
“We are optimistic about Francophone Africa and the opportunities to develop breakthrough solutions in power, healthcare, aviation and renewable energy. We believe that the appointment of Eric is a further step in making our vision a reality. We are also glad to bring on board someone with the experience and passion required to drive our growth in this region,” he said.
Eric brings onboard 19 years of experience in the energy sector with the major players like AREVA, ALSTOM and GE and has strong expertise in energy business development and sales strategy especially in West and Central Africa.
“I am very excited to be leading GE’s regional growth in Francophone Africa and driving innovative initiatives to support the needs of GE stakeholders within the region.” Eric Amoussouga said.
Partnership with Governments and local companies form a very important part of GE’s growth in Francophone Africa and across the continent. Through these collaborations, GE has made significant investments to develop infrastructure projects, including sustainable energy solutions, provide efficient and reliable transportation as well as improve access to quality healthcare.
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