Premium Times (Abuja)

7 May 2014

Africa: Six Nigerian Firms Among 16 Fastest Growing in Africa - WEFA

The firms were nominated to join the WEF's Global Growth Companies community on the strength of their ability to become future global leaders.

Six Nigerian firms were on Wednesday announced among 16 companies in Africa newly recognised as the continent's fastest-growing companies.

The selected companies include Nagode Group, UAC of Nigeria Plc, Computer Warehouse Group, Interswitch Limited, Notore Chemical Industries Limited, and Seplat Petroleum Development Company Plc.

Nagode, a Lagos-based diversified entity with about five dynamic and fast growing subsidiaries, was incorporated in 1988, with business operations spanning manufacturing, industrial chemicals, distribution, logistics and services.

UAC PLC is Nigeria's leading diversified company, operating in the food and beverages, real estate, paint and logistics sectors of the economy.

Interswitch is a leading pan-African integrated payments and Mobile Money network providing technology integration, financial advisory services, transaction processing and payment infrastructure in Nigeria.

Notore Chemical Industries is one of Nigeria's leading fertiliser and agro-allied companies in Africa, with operations covering supply of premium fertilisers, deployment of best practices for farmers and farming communities across Nigeria.

Seplat Petroleum is a leading Independent Oil & Gas exploration and production company formed by two Nigerian E&P companies (Shebah E&P and Platform Petroleum Limited) as a Special Purpose Vehicle (SPV) for the acquisition of the assets in the country's petroleum industry.

Other selected companies include Nation Media Group (Kenya); Bidco Oil Refineries Limited (Kenya); GML (Mauritius); Growthpoint Properties (South Africa); Capitec Bank Holdings Limited (South Africa); Webber Wentzel (South Africa); KZN Oils (South Africa); Net1 UEPS Technologies, Inc (South Africa); Tekkie Town (South Africa) and Simba Group (Uganda).

The recognition is part of activities of the 24th World Economic Forum on Africa holding in Abuja on the theme 'Forging Inclusive Growth, Creating Jobs'.

They have been nominated to join the World Economic Forum, WEF's Global Growth Companies community on the strength of their ability to become future global leaders.

The new GGCs are recognised as the continent's most dynamic and high-growth companies.

These companies are considered trailblazers, shapers and innovators that are committed to improving the state of the world.

GGCs are fast-growing companies with the clear potential to become global economic leaders.

The companies were drawn from a broad spectrum of business sectors, including financial services, retail, media, chemicals and energy.

The Global Growth Companies community currently consists of over 360 companies from around the world.

The 16 nominated African GGCs represent a broad cross section of industrial sectors, but share in common a track record in exceeding industry standards in revenue growth, promotion of innovative business practices and demonstration of leadership in corporate citizenship.

"The World Economic Forum is proud to recognize these 16 champions that are at the forefront of driving responsible economic growth, job creation and entrepreneurism in Africa.

"We look forward to the active and dynamic role they will play at our meeting in Abuja, working with the region's leaders to foster inclusive, sustainable growth in the region," Managing Director and Head of New Champions, David Aikman said, in Abuja.

The selected GGCs, together with the Social Entrepreneurs, Technology Pioneers, Young Global Leaders, Global Shapers and Young Scientists, make up the New Champions, a larger WEF community of pioneers, disruptors and innovators.

Nomination as a GGC provides companies with an opportunity to join the larger GGC community of over 360 companies worldwide.

The companies contribute to the Forum's meetings, projects and knowledge products, which in turn support them on their path to achieving responsible and sustainable growth.

Individuals with a strong understanding of companies that might qualify as a GGC are often invited to submit nominations or encourage companies to nominate themselves for the annual selection process.

The Co-Chairs of the meeting are the Managing Director, McKinsey & Company, United Kingdom, Dominic Barton; Chairman of the Executive Board and Chief Executive Officer, Heineken, Netherlands, Jean-François van Boxmeer; President and Chief Executive Officer, Dangote Group, Aliko Dangote; President, Femmes Africa Solidarité, Switzerland, Bineta Diop; Chairman, Telkom Group, South Africa, Jabu A. Mabuza; Chairman, Bharti Enterprises, India, Sunil Bharti Mittal; Vice-Chairman, GE, Hong Kong SAR, John Rice.

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