Sundry Markets Limited, a prominent Nigerian retail firm, has been acknowledged as one of Africa’s 50 fastest-growing companies in 2024 by the Financial Times. This accolade, shared in a statement with The PUNCH, highlights the company’s impressive growth despite the challenging economic conditions prevailing in many African nations.
The firm, which operates the Marketsquare chain of supermarkets, has seen remarkable expansion since its inception in 2015. The FT-Statista ranking celebrates businesses that have shown substantial growth in the face of post-pandemic recovery issues and broader economic challenges across the continent.
The report, now in its third edition, notes that Nigeria, Africa’s third-largest economy, has been grappling with inflation and currency devaluation since 2023. Nonetheless, the country features the second-highest number of companies on the FT’s list, with Sundry Markets standing out as a significant contributor.
Ebele Enunwa, CEO of Sundry Markets, expressed his satisfaction, stating, “Being listed among Africa’s top companies for 2024 is a testament to our positive trajectory. Since our modest beginnings in 2015, we have garnered recognition across the continent. Sundry Markets has provided direct and indirect employment to 5,000 individuals in Nigeria.”
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