FT Ranking: Africa’s Fastest-Growing Companies 2025 and Lessons within

Raheem Akingbolu reviews the 2025 edition of Financial Times of London ranking of Africa’s fastest-growing companies, pointing out the unusual leap of business organisations outside the most referenced sectors.

Beyond the United Kingdom, the Financial Times (FT) appeals to a global audience. Over the years, it has earned international influence and relevance as a financial newspaper, particularly among influential business and political figures across the world. To this end, it is always a mark of honour for companies that make the global newspaper’s annual rating in various continents of the world.

In the 2025 edition of its Africa’s business ranking, a few organisations sprang surprises. For instance, in what looks like a predominantly honour list of players in the fintech, e-commerce, energy and financial sectors, Nigeria’s X3M Ideas, one of Africa’s most celebrated advertising agencies, done the marketing communication industry proud by earning a coveted spot as one of Africa’s Fastest-Growing Companies 2025. The feat has since been described as a reflection of the creative agency’s outstanding growth trajectory over a three-year period.

Year in, year out, the ranking is celebrated globally because the FT is known for its in-depth coverage of financial markets, economics, and international business, and it is seen as a source of reliable and balanced news

To this end, being listed in the Financial Times, particularly the Financial Times Africa’s Fastest-Growing Companies ranking, can significantly boost a business’s growth and recognition. This listing signals strong performance, market leadership, and potential for future growth, attracting investors, partners, and customers. Among other things, the rating enhances credibility and reputation, increased investor Interest and attraction of talent.

Therefore, for a creative agency like X3M Ideas, the Financial Times listing would make the firm more attractive to top talents, as it signals a promising career path and opportunities for growth within a successful organisation.

Many Nigeria’s companies also made the list but majorly from Financial Services, Fintech, Health and Energy sectors. In these categories are Termii, PalmPay Ltd, Evercare Hospital, Winock Solar Nigeria Ltd and Moniepoint.

X3M Ideas ranked 31st out of 130 companies, the agency thus joins an elite cohort of enterprises that have demonstrated sheer resilience, innovation, and consistent expansion in Africa’s challenging business environment.

The Financial Times ranking, compiled in collaboration with global data and research firm Statista, is now in its fourth edition. It provides a snapshot of high-growth companies across the continent and is considered one of the most respected indicators of business momentum in emerging markets.

A look at the methodology behind the ranking shows that Financial Times’ evaluation is a backward-looking analysis of companies’ compound annual growth rate (CAGR) between 2020 and 2023. This data-intensive approach, according to FT, allows for a fair comparison of businesses based on real financial figures.

However, because many of the continent’s fast-growing enterprises are privately held and do not publish detailed financial reports, the screening process is rigorous. Companies must submit verified data, which is signed off by senior executives. This helps ensure that only credible, scalable companies make the list — even if the ranking may not be exhaustive due to the fragmented and often opaque nature of African markets. As it notes, “Because many fast-growing companies are privately held and do not publicly disclose detailed financial data, a ranking such as this can never claim to be complete. But the screening process… ensures that the list offers a meaningful snapshot and puts a focus on businesses not often in the spotlight.”

This year’s list was shaped by compound growth rate, revenue increases, and headcount expansion, giving a holistic view of company growth.

The 2025 ranking underscores the dominance of South Africa and Nigeria, Africa’s two largest economies, in the entrepreneurial landscape. The report states: “Africa’s two biggest, albeit sluggish, economies continue to dominate the Financial Times’ ranking of the fastest-growing African companies with more than half of the 130 companies listed from South Africa and Nigeria.”

Together, the two countries contributed 79 of the 130 businesses featured. While this reflects the depth of innovation and opportunity in these economies, it also illustrates the challenges that entrepreneurs from smaller African nations face in scaling businesses across the continent.

The FT observes: “More negatively, it also hints at how difficult it has been for companies from smaller countries to build a continental presence in what is still a highly fragmented landscape.”

How Creativity and Strategy Earned strengthened the Firm

Listed at #31, X3M Ideas was recognized for its remarkable 563.9% growth rate and 87.9% annual compound growth. Founded in 2012, the Lagos-based creative powerhouse has earned a reputation for delivering bold, impactful campaigns that blend storytelling with strategic insight.

While many companies on the list operate in fintech, logistics, e-commerce, and energy, X3M Ideas stands out as one of the few representing advertising and marketing, reaffirming its place as a leading light in Africa’s creative economy.

In addition to X3M Ideas, 24 other Nigerian companies were included on the 2025 FT list, spanning sectors from e-commerce (Omniretail Inc at #1) and fintech (PalmPay Ltd at #2) to healthcare (Evercare Hospital Lekki at #18) and energy (Winock Solar Nigeria Ltd at #15).

To place X3M Ideas’ achievement in context, here are the top five companies on the 2025 list:

Omniretail Inc (Nigeria, E-commerce) – 71,818.4% growth

PalmPay Ltd (Nigeria, Fintech) – 31,850.0% growth

Remedial Health Inc (Nigeria, Pharmaceuticals) – 8,384.4% growth

Eshandi Financial Services Ltd (Zambia, Fintech) – 5,231.0% growth

The Africaworks Group of Companies (Mauritius, Real Estate) – 3,770.1% growth

These figures show that while X3M Ideas’ growth may not match the explosive early-stage leaps of younger fintech startups, its steady climb in a mature industry like marketing services is a noteworthy feat.

The Financial Times emphasized the structural challenges facing businesses across Africa — from fragmented markets and regulatory differences to infrastructure gaps. Despite these barriers, companies like X3M Ideas are not only surviving but thriving, largely due to innovative thinking, leadership focus, and regional adaptation.

As the FT rightly notes, this annual ranking does more than celebrate high revenue growth — it shines a light on under-represented sectors and business models, offering a deeper understanding of Africa’s evolving business ecosystem.

For X3M Ideas, inclusion in the FT Africa’s Fastest-Growing Companies 2025 list is more than a badge of honour — it’s a reflection to over a decade of building a strong creative culture, earning clients trust, and executing memorable campaigns with measurable impact.

For Nigeria, X3M Ideas’ recognition is yet another symbol of the country’s potential to produce globally competitive brands — even in an environment fraught with challenges.

Meanwhile, the Association of Advertising Agencies of Nigeria (AAAN) has extended its heartfelt congratulations to Steve Babaeko and the entire X3M Ideas team following the remarkable achievement.

AAAN President, Lanre Adisa, in a statement, congratulated Babaeko and X3M Ideas on the remarkable recognition.

He said: “Steve’s tenure as AAAN President was quite revolutionary. He raised the bar for our association and industry at large. His leadership brought bold ideas to life, executed with brilliance and a deep sense of purpose for the creative community. This global acknowledgment is a testament to his enduring impact, not just as a creative force but as a trailblazer on the African continent.”