Egyptian fintech Thndr leads the Financial Times' Africa Fastest-Growing Companies 2026 ranking for the first time, followed by South Africa with 51 companies, Kenya (17), Nigeria (16), Mauritius (12), and Tunisia (6). The ranking, based on 2021–2024 revenue growth, highlights fintech, IT, and software sectors (40%), with manufacturing, energy, hospitality, and established firms like Kenya Airways and Nedbank also featured. South Africa’s dominance is attributed to its world-class incubator ecosystem and stable rand compared to peers like Nigeria and Egypt.

Key challenges include market size and capital access. The IMF notes 2025 stabilisation gains, but 2026 growth is now forecast at 4.3% (down 0.3pp from 4.5%), with Middle East war impacts looming. Thndr’s reported 1mn users and South Africa’s infrastructure improvements (ports, rail, grid) are cited as growth drivers, while Nigerian devaluation and Kenyan business hurdles pose risks.