27th June 2024, Port Harcourt, Nigeria; Sundry Markets Limited, Owners of Market Square, a leading indigenous retail chain in Nigeria, has been recognized as one of the Africa’s top 50 fastest-growing companies for 2024 by financial Times.
The FT-Statista ranking highlights companies that have demonstrated exceptional growth, even amidst economic hardship. While many African economies grapple with Post-pandemic recovery, Sundry Markets stands out for it’s ability to overcome both pandemic challenges and the continent’s broader economic struggles.
In its third edition, the report identifies Nigeria, Africa’s third largest economy as experiencing a 2023 economic crisis marked by inflation and currency devaluation. Despite these difficulties, Nigeria boosts the second highest number of companies on the FT’s list.
The International Monetary Fund (IMF) reports Africa’s overall economic growth in 2023 at 3.2%, lagging behind Asia’s near 5% growth. This disparity is further amplified when considering Africa’s rapid population expansion.
In his delight about the company’s listing, Sundry Market’s Founder and CEO, Mr Ebele Enunwa said:
“It’s a pleasure to be listed amongst the top companies across Africa for 2024. Getting listed has shown that we are moving in the right direction. From a humble beginning in 2015 and now. We have gained recognition across the continent. Sundry Markets has employed direct and indirect 5000 people pan Nigeria.Â
This accolades from the Financial Times underscores Sundry market’s commitment to growth, Innovation and excellence, reinforcing it’s position as a leading player in Africa’s retail industry.”
Sundry market currently has 31 stores located across 14 cities in Nigeria.
