9 May 2014
Six South African businesses were among 16 dynamic, high-growth African firms named as “Global Growth Companies” by the World Economic Forum (WEF) on Tuesday.
Making the announcement on the eve of the WEF on Africa summit in Abuja, Nigeria, the Switzerland-based organisation described the 16 companies as “trailblazers, shapers and innovators that are committed to improving the state of the world”.
Global Growth Companies “are fast-growing companies with the clear potential to become global economic leaders,” the WEF said in a statement. “The 16 nominated African Global Growth Companies … 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 six South African companies on the list are property investment holding company Growthpoint Properties, low-cost retail bank Capitec, law firm Webber Wentzel, black-owned fuel reseller KZN Oils, technology firm Net1 UEPS Technologies, and shoe retailer Tekkie Town.
Nigeria also has six firms on the list, namely Nagode Group, UAC of Nigeria, Computer Warehouse Group, Interswitch Limited, Notore Chemical Industries, and Seplat Petroleum Development Company.
Kenya’s Nation Media Group and Bidco Oil Refineries, along with Uganda’s Simba Group and Mauritian company GML, complete the list.
David Aikman, managing director at the World Economic Forum, said the WEF was “proud to recognize these 16 champions that are at the forefront of driving responsible economic growth, job creation and entrepreneurism in Africa”.