FT ranks Nigerian firm among Africa’s fastest-growing companies

A Nigerian retail firm, Sundry Markets Limited, has been recognised as one of Africa’s top 50 fastest-growing companies in 2024 by the Financial Times.

In a statement made available to The PUNCH, this recognition underscores the company’s growth amid the economic challenges faced by many African economies.

Sundry Markets Limited, owners of Marketsquare, is an indigenous retail chain of supermarkets in Nigeria.

According to the statement, the FT-Statista ranking celebrates companies that have demonstrated significant growth despite the post-pandemic recovery struggles and broader economic difficulties across the continent.

In its third edition, the report highlights Nigeria, Africa’s third-largest economy, which has been contending with inflation and currency devaluation since 2023.

It added that despite these economic headwinds, Nigeria boasts the second-highest number of companies on the FT’s list, with Sundry Markets being a key player among them.

Expressing his delight, the Chief Executive Officer of Sundry Markets, Ebele Enunwa, stated, “It is a pleasure to be listed amongst the top companies across Africa for 2024. Getting listed has shown that we are moving in the right direction. Since our humble beginning in 2015, we have gained recognition across the continent. Sundry Markets has employed direct and indirect 5,000 people in Nigeria.”

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