{"id":685565,"date":"2023-05-07T15:00:37","date_gmt":"2023-05-07T13:00:37","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=685565"},"modified":"2023-05-05T17:11:30","modified_gmt":"2023-05-05T15:11:30","slug":"these-are-the-20-fastest-growing-companies-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/685565\/these-are-the-20-fastest-growing-companies-in-south-africa\/","title":{"rendered":"These are the 20 fastest-growing companies in South Africa"},"content":{"rendered":"

The Financial Times (FT), in partnership with Statista, has released its annual ranking of Africa\u2019s top 100<\/a> fastest-growing companies for 2023, listing over 30 South African companies among them.<\/p>\n

The ranking, now in its second year, shows that companies in sectors including fintech, renewable energy, healthcare, commodities and agriculture were managing to grow their businesses while much of the world shut down during the Covid-19 pandemic, said the FT.<\/p>\n

\u201cCovid appears to have accelerated the move online, with companies providing digital services in finance, payments, trade facilitation and healthcare all making headway,\u201d the report said.<\/p>\n

\u201cIt also seems to have been the time in which Silicon Valley investors, as well as those in Asia and Europe, discovered potential in the African start-up scene, particularly in the tech hubs of Lagos, Cape Town, Johannesburg, Nairobi and Cairo,\u201d it added.<\/p>\n

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The companies were ranked by their compound annual growth rate (CAGR) in revenue between 2018 and 2021.<\/p>\n<\/div>\n

South African companies that made the list operate in multiple sectors, including IT and software, mining, healthcare, and e-commerce.<\/p>\n

According to the report, the three fastest-growing companies in South Africa were Deimos, ranked 6th in Africa, Bluesky Digital Solutions (12th), and Northam Platinum Holding (23rd).<\/p>\n

Deimos Cloud<\/a> is a local technology-orientated company that provides cloud and software services, such as custom software development, cloud-native architectures, large-scale cloud migrations, developer automation, security, and more.<\/p>\n

Deimos recorded a CAGR of 177% in revenue between 2018 and 2021, from $500,000 to $9.5 million.<\/p>\n

Bluesky Digital Solutions<\/a> is another IT and software company that provides cloud computing services, custom application development, architecture, configuration, business analysis, training, and delivery management.<\/p>\n

The company reported a CAGR of 94.6% in revenue between 2018 and 2021, from $1.7 million to $11.1 million.<\/p>\n

Northam Platinum Holdings<\/a> is a South African mining and platinum group metals producer (PGM) focusing on platinum, palladium, and rhodium.<\/p>\n

The mining company recorded a CAGR of 62.9% in revenue between 2018 and 2021, from $587.5 million to $2.1 billion.<\/p>\n

Other notable mining companies that featured in the ranking include Impala Platinum Holdings (29th), Sibanye Stillwater (33rd), Pan African Resources (49th), and African Rainbow Minerals (51st).<\/p>\n

These companies, therefore, rank 5th, 7th, 17th, and 18th among South Africa\u2019s fastest-growing companies, respectively.<\/p>\n

Interstingly, one of the JSE\u2019s top 10 companies in 2022 \u2013 Napsers \u2013 ranked 19th in South Africa and 52nd in Africa, reporting a respectable CAGR of 34.1% in revenue between 2018 and 2021, from $3.3 billion to $7.9 billion.<\/p>\n

The table below shows the top 20 fastest-growing companies in South Africa, their rank in Africa, and reported CAGR in revenue.<\/p>\n

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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Africa ranking<\/th>\nCompany<\/th>\nSector<\/th>\nCAGR (revenue growth)<\/th>\n<\/tr>\n
6<\/td>\nDeimos Cloud<\/td>\nIT & Software<\/td>\n177.2%<\/td>\n<\/tr>\n
12<\/td>\nBluesky Digital Solutions<\/td>\nIT & Software<\/td>\n94.6%<\/td>\n<\/tr>\n
23<\/td>\nNortham Platinum Holdings<\/td>\nMetals & Mining<\/td>\n62.9%<\/td>\n<\/tr>\n
28<\/td>\nVertice Medtech Holdings<\/td>\nHealthcare & Life Sciences<\/td>\n53.6%<\/td>\n<\/tr>\n
29<\/td>\nImpala Platinum Holdings<\/td>\nMetals & Mining<\/td>\n53.5%<\/td>\n<\/tr>\n
31<\/td>\nRouted Hosting<\/td>\nIT & Software<\/td>\n51.5%<\/td>\n<\/tr>\n
33<\/td>\nSibanye Stillwater<\/td>\nMetals & Mining<\/td>\n50.4%<\/td>\n<\/tr>\n
36<\/td>\nHerholdt\u2019S Group<\/td>\nEnergy & Utilities<\/td>\n48.9%<\/td>\n<\/tr>\n
37<\/td>\nLuxity<\/td>\nE-commerce<\/td>\n48.8%<\/td>\n<\/tr>\n
38<\/td>\nLinkfields Innovations<\/td>\nIT & Software<\/td>\n47.5%<\/td>\n<\/tr>\n
40<\/td>\nLeatt<\/td>\nRetail<\/td>\n43.8%<\/td>\n<\/tr>\n
41<\/td>\nNclose<\/td>\nIT & Software<\/td>\n42.9%<\/td>\n<\/tr>\n
42<\/td>\nPurple Group<\/td>\nFintech, Financial Services & Insurance<\/td>\n42.9%<\/td>\n<\/tr>\n
45<\/td>\nEntelect Software<\/td>\nIT & Software<\/td>\n40.9%<\/td>\n<\/tr>\n
47<\/td>\nExpert South Africa<\/td>\nE-commerce<\/td>\n38.5%<\/td>\n<\/tr>\n
48<\/td>\nHearx<\/td>\nHealthcare & Life Sciences<\/td>\n37.6%<\/td>\n<\/tr>\n
49<\/td>\nPan African Resources<\/td>\nMetals & Mining<\/td>\n36.2%<\/td>\n<\/tr>\n
51<\/td>\nAfrican Rainbow Minerals<\/td>\nMetals & Mining<\/td>\n34.1%<\/td>\n<\/tr>\n
52<\/td>\nNaspers<\/td>\nMedia & Telecommunications<\/td>\n34.1%<\/td>\n<\/tr>\n
57<\/td>\nSpark Schools<\/td>\nEducation & Social Services<\/td>\n30.6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

Criteria for inclusion on the list\u00a0<\/strong><\/p>\n

According to the FT, to be included in the list of Africa\u2019s fastest-growing companies, a company had to meet the following criteria:<\/p>\n