Neveah Limited Ranks High in Financial Times 2023 Africa’s Fastest Growing Companies

Neveah Limited, an indigenous commodities export company, has been ranked high in the Financial Times 2023 Africa’s Fastest Growing Companies list, surpassing several top brands in Africa. The publication, released on Tuesday, 2nd May 2023, listed Neveah as the 18th fastest growing company in Africa, ahead of renowned companies like Julius Berger, Dangote PLC, MTN, Sterling Bank, and Flour Mills.

Neveah Limited’s Ranking Criteria

Financial Times and Statista, a global market research company, based their ranking on the compound annual growth rate (CAGR) in revenue from 2018 to 2021, making Neveah Limited’s impressive growth rate of 68% and 176% on revenue and profitability respectively a significant criterion for its ranking.

Neveah Limited’s Remarkable Achievements

Neveah Limited’s consistent growth over the years has earned the company a well-deserved spot on the prestigious list. In just five years, the company has registered a compounded annual growth rate (CAGR) of 68% on revenue and 176% on profitability. Additionally, Neveah raised a total of N14.96 billion and repaid N14.54 billion while registering a N10 billion commercial paper with FMDQ Exchange in 2021.

Neveah Limited’s CEO Speaks

Mr. Ibidapo Lawal, the CEO of Neveah Limited, expressed his delight at the recognition by Financial Times, stating that the ranking is a testament to the company’s commitment to best practices, consistent business and human development, and an ability to take calculated risks. He also noted that Neveah Limited is poised to achieve greater milestones in the future.

About Neveah Limited

Neveah Limited is a leading indigenous export company in Nigeria that deals in agricultural commodities, base metals, and minor metals. The company exports to over 15 countries in Europe and Asia, with its major markets spanning across North America. Neveah provides the best products at the most affordable prices to its global customers by working closely with select suppliers for its materials. In 2022, Neveah Limited was awarded Sectoral Exporter of the year by the Nigerian Export Promotion Council (NEPC).

Conclusion

Neveah Limited’s impressive ranking on the Financial Times 2023 Africa’s Fastest Growing Companies list is well deserved, and it highlights the company’s remarkable growth rate and commitment to excellence. Neveah Limited has set the pace for indigenous companies in Nigeria, and it is poised to achieve greater heights in the future.

FAQs

1. What is Neveah Limited? Neveah Limited is an indigenous commodities export company in Nigeria that deals in agricultural commodities, base metals, and minor metals.
2. What is the compound annual growth rate (CAGR) used for the ranking of Africa’s fastest growing companies? The compound annual growth rate (CAGR) in revenue from 2018 to 2021 was a major criterion for listing in the Financial Times 2023 Africa’s Fastest-growing companies ranking.
3. How many countries does Neveah Limited export to? Neveah Limited exports to over 15 countries in Europe and Asia, with its major markets spanning across North America.
4. What award did Neveah Limited win in 2022? Neveah Limited was awarded Sectoral Exporter of the year by the Nigerian Export Promotion Council (NEPC) in 2022.
5. What is Neveah Limited’s commercial paper value? Neveah Limited registered a N10 billion commercial paper with FMDQ Exchange in 2021.