Based on advanced research into Africa’s most vibrant private and growth driven companies that are shaping global markets across industries and sectors; West Africa’s largest independent telecommunications infrastructure, Phase3 Telecom, has been listed as one of such in the technology and telecoms space by the London Stock Exchange Group (LSEG).
This development serves as an offshoot of the second edition of LSEG Companies to Inspire Africa report, which recognised companies that have witnessed noteworthy evolution, made remarkable progress and have recorded diverse and visible milestones in the past year. This Includes companies within the African continent that are pursuing initial public offerings and bonds issuance to grow as well as those that have embarked on regional and global expansion projects.
Interestingly, of 360 companies from 32 different countries across Africa that were highlighted in the report, 23 per cent of the senior executives of the companies featured are female, at an encouraging 11 per cent above 2018 report. It was also stated that firms in the consumer services, industry and agriculture were the three biggest sectors which made up over 50 per cent of the companies attributed to the continent’s growth in the past year. While technology, telecoms, and financial services represented more than 25 per cent of entities; with healthcare, education and renewable energy sectors also making up a good percentage Analysing the report, the Chief Executive Officer of London Stock Exchange Group, David Schwimmer, stated that the report was published based on LSEG belief that these firms, and high-growth firms like them, are crucial to the future of the African economy, capable of driving transformative economic growth in their home countries, Africa and beyond.
He added that LSEG looks “forward to continuing to work with African governments, companies and financial market participants to develop domestic capital markets further, offering an additional funding channel and supporting entrepreneurship, infrastructure, green investment and economic growth.”
According to him, currently listed on London markets with increasing global investor access network, were more than 100 firms and almost 40 African bonds through issuance from Nigeria, Kenya, Egypt, Angola and Ghana.
The Chief Executive Officer of Phase3 Telecom, Mr. Stanley Jegede, said: “The listing affirms the company’s role as an indigenous firm at the forefront of increasing efforts that will boost digital market viability, layered connectivity needs and minimise the challenges of accessibility and reliability across sectors. Thus, validating the company’s daily commitment to driving its vision for Nigeria and the West African sub-region.”
Maintaining that speedy broadband penetration remains a prime objective as Phase3 continues to ensure that the region enjoys quality of service, reliability and exceptional customer experience that ride on investments in our team and technologies that create an enabling ecosystem for clients within a secure, reliable and scalable network infrastructure, Jegede added.