Foremost Investment Bank and Pan-African financial services group, United Capital Plc, has been recognized as one of Africa’s fastest-growing companies by the Financial Times, a renowned and globally acclaimed news organization.
A first-of-its-kind for the British daily, the ‘FT ranking: Africa’s Fastest Growing Companies 2022’, as the editorial is titled, was conceptualized to reflect trends across the corporate landscape in the continent, spotlighting companies that have achieved exponential growth despite the economic complexities of the pandemic. In curating this list, Financial Times conducted a thorough examination of the official stated revenue data of about 900 public companies in Africa reviewing the highest compound annual growth (CAGR) in revenues between 2017 and 2020. This resulted in a much more concise list of 75 companies operating in diverse sectors and leading the pack in Africa.
With an Absolute Growth Rate (AGR) of 44.4% and a Compound Annual Growth Rate (CAGR) of 13%. The organization’s revenue grew from a recorded $29.2 million in 2017 to $35.8 million in 2020.
Expressing his pleasure with the recognition, Group CEO, United Capital Plc, Peter Ashade, said “This recognition bodes well for our growth aspirations to capture new markets, attract international clientele, and facilitate capital flows across the African continent. It is noteworthy that the period considered for the rankings (2017–2020) excludes the year 2021 where we amassed a 40% increase in Gross Earning to N18.07 Billion and a 104% year-on-year increase in total assets to the tune of N453.60 Billion. These feats validate our goal to gradually change the narrative of African financial service offerings and become a reference in the global business world.”