Nine Egyptian companies rank on Financial Times’ Africa's Fastest Growing Companies

The Financial Times' Africa's Fastest Growing Companies 2023 list has recently been released, in partnership with Statista, highlighting companies in Africa that have demonstrated growth and success during the pandemic.

The rankings were determined by calculating the compound annual growth rate (CAGR) in revenues between 2018 and 2021. Nine Egyptian companies made it onto the list, showcasing the country's entrepreneurial spirit and continued economic growth.

Globe MedEx, a company specializing in distributing ophthalmology equipment, achieved a CAGR of 95.08 percent and secured the 11th position on the list.

Karmsolar, a provider of sustainable solar energy solutions, achieved a CAGR of 75.72 percent, ranking 19th.

Suez Canal Bank ranked 44th with a CAGR of 41 percent, followed by CIRA Education, a private school and university operator, which achieved a CAGR of 39.02 percent and secured the 46th spot.

Reefy Micro-Finance Enterprise Services, which provides microfinance loans, ranked 62nd with a CAGR of 27.14 percent.

Fintech and e-commerce company, MNT-Halan, took the 68th spot with a CAGR of 24.41 percent.

The remaining companies are El Fayrouz Company For Converting And Cutting Paper (92nd), EFG Hermes Holding (93rd), and Arab Contractors (97th).