Lipa Later and Poa Internet Among Kenyan Companies in FT’s Africa’s Fastest Growing Companies 2023

The FT/Statista 2023 annual ranking of Africa’s fastest-growing companies is out, and it includes a few Kenyan startups. The ranking, now in its second year, shows that companies in sectors such as fintech, renewable energy, healthcare, commodities, and agriculture were managing to grow their businesses while much of the world shut down. The list consists of companies from different African countries, and here are the Kenyan startups that made it to the top 50 list:

1. Sokowatch Ltd. – This Kenyan E-commerce company is ranked third on the list. It recorded an absolute growth rate of 3,901.40% and a compound annual growth rate (CAGR) of 242.035%. Sokowatch was founded in 2016 and has 1,490 employees.
2. Africa Healthcare Network – This Kenyan healthcare and life sciences company is ranked thirteenth on the list. It recorded an absolute growth rate of 618.437% and a CAGR of 92.958%. Africa Healthcare Network was founded in 2015 and has 272 employees.
3. Victory Farms Ltd. – This Kenyan agriculture, forestry, and fishing company is ranked fifteenth on the list. It recorded an absolute growth rate of 563.023% and a CAGR of 87.864%. Victory Farms Ltd. was founded in 2015 and has 563 employees.
4. Lipa Later Ltd. – Lipa Later is a Kenyan fintech company that provides asset financing for consumers and businesses. It recorded an absolute growth rate of 525.803% and a compound annual growth rate (CAGR) of 84.28%. The company was founded in 2017 and has 25 employees.
5. Poa Internet Kenya Ltd. – Poa Internet is a Kenyan internet service provider that provides affordable and reliable internet access to low-income communities. It recorded an absolute growth rate of 409.044% and a compound annual growth rate (CAGR) of 72.022%. The company was founded in 2015 and has 86 employees.
6. Copia Global, Inc. – Copia is a Kenyan e-commerce company that provides a platform for ordering and delivering goods and services to underserved and remote areas. It recorded an absolute growth rate of 236.929% and a compound annual growth rate (CAGR) of 49.915%. The company was founded in 2013 and has 659 employees.

Read: SkyGarden to Continue operating independently even after acquisition by Lipa Later