24 June 2019

CDC Group and London Stock Exchange Group celebrate ‘Companies to Inspire Africa’ in Egypt

  • London Stock Exchange Group’s Companies to Inspire Africa 2019 report showcases 360 high growth and inspiring businesses across Africa.
  • The companies represented in the report record a revenue compound annual growth rate (CAGR) of 46%.
  • The report features 8 Egyptian companies from a range of sectors, growing their number of employees by a CAGR of 19% over three years
  • London Stock Exchange Group launched this report in partnership with CDC Group, African Development Bank Group,  PwC and Asoko Insight who contributed their insight and expertise to select the featured companies, and the report is sponsored by Instinctif Partners and Stephenson Harwood.

Cairo, Egypt: The second edition of London Stock Exchange Group’s (LSEG) ‘Companies to Inspire Africa’ report was presented today at the British Embassy in Cairo, Egypt – hosted by the British Ambassador to Egypt, Sir Geoffrey Adams. The report identifies and celebrates growing and dynamic private businesses across Africa, with outstanding stories of innovation, growth and entrepreneurship. Businesses from Egypt in the report include ElFateh for Industries and Steel Constructions, Cairo 3A, Carbon Holdings Ltd, Fawry Egypt, Eagle Chemical Group Ltd, German Medical Healthcare, KarmSolar and Sambo Metals Company.

The event was attended by Egypt’s Minister of Finance, Mohamed Maait and the UK Prime Minister’s Trade Envoy for Egypt, the Rt. Hon. Sir Jeffrey Donaldson. A panel discussion on accessing private sector growth capital in Egypt was held by CDC Group’s Head of Africa Tenbite Ermias, Wuzzuf’s CEO Ameer Sherif, Carbon Holdings Chairman and CEO, Basil El-Baz, and Ezedehar’s Founder Emad Barsoum. The panel was moderated by Maged Ezzeldeen, Senior Partner, PWC.

The report highlights the featured companies to a global investor audience and can lead to further collaboration across borders with strategic partners, as well as create stronger value chains and help companies expand into new markets.

Commenting on the announcement, British Ambassador to Egypt Sir Geoffrey Adams said: “This report unveils Africa’s potential. With exceptional growth and a doubled rate of female participation in comparison to 2017, we see Africa’s economy developing fast. We believe in Africa’s progress, and this is why the UK is committed to becoming the number one G7 investor in this continent.”

Rt. Hon. Sir Jeffrey Donaldson, UK Prime Minister’s Trade Envoy for Egypt, commented:

“I am delighted to showcase the successful role of private companies that drive the economy forward in Egypt; the gateway to Africa. The UK is committed to share its expertise with Africa to build Africa’s human capital in strategic sectors that benefits its people.”

David Schwimmer, CEO, LSEG, said:

“London Stock Exchange Group’s ‘Companies to Inspire Africa’ report showcases inspirational and entrepreneurial businesses from across the African continent, representing a wide variety of industries and countries. 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.

These high growth companies have the potential to transform the economies in Africa and become tomorrow’s job creators.  At LSEG, we are committed to helping companies realise that potential and we are pleased to highlight and celebrate the company success stories behind one of the world’s fastest growing markets.”

Tenbite Ermias, Managing Director Africa, CDC Group added:

“I am delighted to have joined the panel today here in Cairo, highlighting the role Development Finance Institutions, like CDC, can play in providing growth capital in Egypt. CDC has multiple investment solutions; we are committed to supporting commercial and sustainable businesses accelerate their growth through long term partnerships.

With a further US $4.5 billion to invest across Africa from 2018 – 2021, we plan to partner with many more strong management teams to help drive growth and prosperity through socially responsible business.

It’s a privilege to champion more than 360 high performing businesses in the Companies to Inspire Africa publication. These companies are led by some of the Continent’s most dynamic management teams who shape the future of their industries.”

The 2019 report findings at a glance:

  • 8 Egyptian companies featured in the report, including ElFateh for Industries and Steel Constructions, Cairo 3A, Carbon Holdings Ltd, Fawry Egypt, Eagle Chemical Group Ltd, German Medical Healthcare, KarmSolar and Sambo Metals Company
  • 360 companies from 32 countries across the continent of Africa with 7 major sectors represented
  • Companies featured include small entrepreneurial businesses through to well-established corporations
  • Revealing exceptional rates of growth amongst this year’s cohort, with average revenue Compound Annual Growth Rate (CAGR) at 46% and average employee CAGR at 25% over three years, the report highlights the entrepreneurial and dynamic landscape of the African private sector
  • 23% of companies are led by women, almost double the proportion in the 2017 report: standout sectors where senior female executives are having a big impact are Healthcare & Education and Financial Services, with 39% and 31% of companies led by female CEOs
  • The fastest growing sectors are Financial Services and Renewable Energy with revenue growth rates of 70% and 66% respectively
  • Consumer Services is the most represented sector with 79 companies from 20 countries, reflecting the growth of sub-sectors such as Consumer Goods, Food & Beverages, Leisure & Tourism, Media and Retail, and Africa’s growing middle class
  • Agriculture remains an important sector for the continent with 53 companies, almost 15% of those featured
  • The East-West African axis dominates this year’s report with 130 companies from Western Africa and 147 from Eastern Africa
  • The companies in this year’s report are creating significant employment opportunities across Africa, with average staff numbers of 360

The report was produced in partnership with CDC Group, African Development Bank Group, PwC and Asoko Insight who contributed their insight and expertise to select the featured companies, and the report is sponsored by Instinctif Partners and Stephenson Harwood.

A comprehensive searchable database of the report, along with a downloadable PDF of the publication is available at www.lseg.com/inspireafrica

London Stock Exchange Group has a long history of supporting the development of African capital markets and investment in African companies. To learn more, click here.

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About CDC Group

CDC Group plc is the UK’s development finance institution.  Wholly owned by the UK Government, it invests in Africa and South Asia with the aim of supporting economic development to create jobs. CDC Group plc has invested in Africa since its establishment in 1948 and has net assets of £5.1 billion. CDC takes a flexible approach and provides capital in all its forms, including equity, debt, mezzanine and guarantees, to meet businesses’ needs and achieve development impact.

For media enquiries, please contact:

Clare Murray CMurray@cdcgroup.com

Raneem Abudaqqa Raneem.Abudaqqa@instinctif.com