London Stock Exchange Group has begun a search for Africa’s “most promising, high-growth” privately held businesses to be published in its “Companies To Inspire Africa” report in November in collaboration with Asoko Insight, PwC and CDC Group, a source close to the compilation told African News Agency at the weekend.
“Aimed at improving awareness on the region’s most dynamic companies, the Inspire Africa report showcases outstanding stories of innovation, growth and entrepreneurship in African business to a global audience,” the source said.
Launched by London Stock Exchange Group (LSEG) in 2017 with just over 300 of Africa’s most promising high growth companies, the inaugural edition of the report, was produced in partnership with PwC, African Development Bank Group and CDC Group, and was sponsored by Citi, FTI Consulting and Diamond Bank.
“To build a larger listing of high-growth businesses for 2018, Asoko Insight has joined the initiative and is actively seeking nominations from finance institutions, venture capitalists, private equity firms and investors as well as calling on companies to make direct submissions” the source said.
Eligible companies must be active and privately held, with primary operations being run out of Africa. In addition, companies must have demonstrated growth over the past three years and annual revenues not exceeding $1 billion. Shortlisted companies will be published in the final report due for release in November 2018.
Asoko Insight made news in the investment space last week, announcing the completion of an over-subscribed $3.6M Series A funding round. (via African News Agency)