September 5, 2022

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Innovation Leader

These are the fastest-growing companies in South Africa right now

The Financial Times and data company Statista have published their inaugural ranking of Africa’s fastest-growing companies, with several major South African firms included on the list.

The companies were ordered by the highest compound annual growth (CAGR) in revenues between 2017 and 2020.

The ranking was created through a complex procedure. Although the search was extensive, the list is not exhaustive as some companies did not want to make their figures public or did not participate for other reasons.

Statista identified thousands of companies in Africa as potential candidates for the ranking, through research in company databases and other public sources. These companies were invited to participate in the competition by post and email.

The process required submitted revenue figures to be certified by the chief executive, chief financial officer or an executive committee member of the company.

South African companies

South Africa is the most represented country on the list (24), following Nigeria (20) and Kenya (9). These are also the markets that have attracted the most venture capital and where unicorns (companies valued at $1 billion+) and would-be unicorns have grown, the Financial Times said.

Precious metals group Northam Platinum was ranked as the fastest-growing company in South Africa (10th on the continental list), beating out financial services group Long4Life (12th) and fellow mining company Royal Bafokeng (14th). South Africa’s largest company by market cap, Naspers, features 37th on the overall list.

Company name Sector Absolute growth rate Compound annual growth rate
Northam Platinum Ltd. Precious Metals 331.7% 62.8%
Long4Life Ltd. Financial Services 304.9% 59.4%
Royal Bafokeng Platinum Ltd. Precious Metals 282.4% 56.4%
eAdvance Pty Ltd. (SPARK Schools) Education 276.3% 55.5%
Yoco Technologies Pty Ltd. Fintech 267.4% 54.3%
Stor-Age Property REIT Ltd. Support Services 158.0% 37.2%
Entelect Software Pty Ltd. Technology 148.8% 35.5%
Purple Group Ltd. Financial Services 118.3% 29.7%
Anglo American Platinum Ltd. Precious Metals 109.8% 28.0%
Sea Harvest Group Ltd. Food & Beverage 105.3% 27.1%
Naspers Ltd. Media 98.8% 25.7%
Sygnia Ltd. Financial Services 98.4% 25.7%
Leatt Corp. Retail 91.7% 24.2%
The Training Room Online Education 85.6% 22.9%
Iser Pty. Ltd. (Expert Stores) Retail 73.5% 20.2%
hearX Group Pty Ltd. Technology 70.1% 19.4%
Afrimat Ltd. Precious Metals 65.8% 18.4%
Harmony Gold Mining Co. Ltd. Precious Metals 50.0% 14.5%
Cognition Holdings Ltd. Technology 46.0% 13.5%
Transaction Capital Ltd. Financial Services 44.4% 13.0%
Impala Platinum Holdings Ltd. Precious Metals 43.3% 12.8%
Gold Fields Ltd. Precious Metals 40.9% 12.1%
Zulu Lounge SA Pty Ltd. Personal & Household Goods 29.8% 9.1%

Read: South Africa’s unemployment rate is heading to 40%

These are the fastest-growing companies in South Africa right now