Namibian companies, Paratus Namibia Holdings Ltd and Bonben Assurance Namibia Ltd, have been ranked by the Financial Times among some of Africa’s fastest-growing companies.
Paratus Namibia Holdings Ltd. clinched the 49th spot in the ranking of Africa’s Fastest-Growing Companies for 2024.
The list, compiled by the Financial Times, features 125 enterprises that have exhibited remarkable resilience and growth.
According to the Financial Times, the criteria for judging were primarily based on key financial metrics and performance., with Paratus Namibia Holdings having displayed remarkable growth figures.
Its absolute growth rate according to Financial Times, stood at an impressive 262.86%, with a compound annual growth rate of 53.67%.
Similarly, Bonben Assurance Namibia Ltd., Bonlife Assurance, also made it to the list, securing the 73rd position, with an absolute growth rate of 148.8% and a compound annual growth rate of 35.5%.
The ranking showcases the impressive growth trajectories of Namibian companies amidst the broader economic challenges facing the continent.
The ranking, now in its third year, highlights the dynamism and growth of companies in sectors including IT, retail, renewable energy, real estate, and e-commerce during what continues to be a generally challenging time for businesses worldwide.
The FT collaborates with Statista, a data research company, to produce rankings for companies in Europe, Asia, America, and Africa in order of revenue growth.
For the 2024 list, the companies were ranked by their compound annual growth rate in revenue between 2019 and 2022. South Africa had 42 companies on the list, followed by Nigeria’s 25, while Kenya tied for third at 12.
