Egypt's Thndr Tops FT's 130-Company Africa Growth List With 1 Million Users
Updated
Updated · Financial Times · May 12
Egypt's Thndr Tops FT's 130-Company Africa Growth List With 1 Million Users
6 articles · Updated · Financial Times · May 12
Thndr led the Financial Times' 2026 ranking of Africa's fastest-growing companies, becoming the first Egyptian business to take the top spot.
The brokerage-focused fintech says it has 1 million active users, many first-time investors, and benefited from a methodology tracking 2021-2024 revenue CAGR.
South Africa still dominated the 130-company list with 51 entries, while Kenya rose to 17 and overtook Nigeria's 16; fintech, IT and software made up nearly 40% of companies.
Nigeria's showing was hurt by naira devaluation, which reduced dollar-reported revenues used in the ranking, while investors increasingly favored Egypt and South Africa.
The list captures 2021-2024 growth but not the Middle East war shock; the IMF has already cut sub-Saharan Africa's 2026 growth forecast by 0.3 points to 4.3%.
As Kenya overtakes Nigeria in high-growth startups, is a new economic power balance emerging?
Is Africa’s rapid corporate growth creating sustainable prosperity or just widening the wealth gap?
With free trade deals in place, what is truly holding back a unified African market?
Thndr Named Africa’s Fastest-Growing Company in 2026 FT Ranking, Signaling Egypt’s Fintech Rise
Overview
The Financial Times' 2026 ranking marks a turning point for Africa's startup scene, with Egyptian fintech Thndr rising as the continent's fastest-growing company. This achievement highlights Egypt's growing fintech momentum and investor confidence, while Nigerian startups struggle with currency devaluations and tighter investment sentiment. The number of African startups in the ranking doubled from 15 in 2025 to 30 in 2026, reflecting a maturing ecosystem and shifting regional leadership. Thndr's success signals a new era for Africa's growth leaders, driven by innovation and changing economic realities across the continent.