Proshare listed in London Stock Exchange Group’s ‘Companies To Inspire Africa 2019’ Report

L-R: Grace Ajuwon, Group Head Marketing Proshare; Charlie Walker, Head Equity Primary market,London Stock Exchange Plc ; Alero Awoyemi, Executive Director Proshare Foundation

Proshare has been identified as one of London Stock Exchange Group’s Companies to Inspire Africa 2019. The report is a celebration of Africa’s and most dynamic growth businesses.

The 2019 report identified a new cohort of fast growing and dynamic private businesses across Africa and 360 companies were selected from 32 countries.

Nigeria and Kenya lead the way as the countries with the most companies featured in the report.

According to the report, exceptional growth rates reflected in featured companies’ CAGR of 46 per cent revenue CAGR and average employee CAGR of 25 per cent over three years.

Femi Awoyemi, Proshare’s CEO/Founder said: “this was a long way coming and the sacrifices to get here is beyond a founder and the committed staff that played a role in ensuring the service delivered on its goals.”

The Inspire Africa 2019 report stated that 23 per cent of the companies were led by women, almost double the proportion reported in 2017.

Consumer Services was the most represented sector with 79 companies – reflecting the growing middle class and the increasing importance of consumer products and services in African economies.

To be included in the list, companies needed to be privately held, and show an excellent rate of growth and potential to power African development. More detail on the methodology can be found in the report online at www.lseg.com/inspireafrica.

The report was produced in partnership with African Development Bank Group, CDC 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.