LSE showcases African biz in ‘Companies to Inspire’ report

By AT editor - 18 January 2019 at 6:27 am
LSE showcases African biz in ‘Companies to Inspire’ report

The London Stock Exchange has named 360 companies from 32 African nations in its new “Companies to Inspire Africa 2019” report. Nigeria and Kenya lead the way, with the report’s foreword written by President Uhuru Kenyatta.

“Entrepreneurship is at the heart of Kenya’s vibrant economy, propelling investment, job creation and growth,” Kenyatta said. “Over 60 Kenyan companies – in sectors ranging from agriculture to fintech – are featured in this report. Together, they showcase the reach, the ambition and prospects of Kenya. But there’s more to be done, both at home and abroad.”

Regional snapshots show Morocco as a North Africa leader with 12 of the 26 regional businesses on the LSE list, while South African firms account for 23 of their region’s 47 noteworthy firms. Western Africa has 130 “Companies to Inspire,” while Kenya and East Africa lead the way with 147 in total.

The 144-page report showcases the promising African firms by sector, with nine categories for renewable energy, agriculture, technology and more. One of the sections is devoted to women-owned companies, with a contribution from Lionesses of Africa CEO Melanie Hawken.

“Women entrepreneurs in Africa typically reinvest ninety percent of what they earn back into their communities, by investing in education, nutrition, household expenditure, and caring for children and the elderly,” Hawken said. “These women are deeply motivated to solve pressing problems in their communities.”

High on that list is job creation, a main driver for African women.

“It is particularly encouraging to see the increasing influence of women in leadership roles in these fast-growing companies, playing a pivotal role in shaping the future of African business,” said LSE Group CEO David Schwimmer.

To view the complete LSE report, check this link.

Image: LSE

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