The annual FT ranking, compiled in partnership with research firm Statista, tracks companies across the continent based on their compound annual growth rate (CAGR) in revenues between 2020 and 2023.
This year's list features 130 companies, with South Africa and Nigeria dominating the rankings, together accounting for more than half of all entries. Kenya ranks third, with 11 companies making the list.
Inkomoko's inclusion is seen as a major milestone for Rwanda's private sector. Founded 12 years ago, Inkomoko has grown into a regional enterprise, operating in Rwanda, Kenya, Ethiopia, South Sudan, and most recently, Chad.
The company has invested over $35 million, supported more than 100,000 entrepreneurs, and reached over 1.2 million people, many of whom live in refugee camps or underserved communities.
'This isn't just our growth story â€" it's our clients' and the communities we serve,' said Emmanuel Mugabo, Inkomoko's Rwanda Managing Director.
'Every business we support is a reminder that talent is everywhere, but what is often missing is access. That's something we can fix together with partners, investors, and policymakers," he added.
Inkomoko's model is built on the belief that displacement-affected communities are not just in need of aid, but ripe with economic potential. By providing entrepreneurs with training, finance, and market access, the organisation demonstrates that empowering the underserved is not charity, but a proven method for driving local economic growth and long-term stability.
As the world faces mounting challenges from conflict, climate change, and inequality, Inkomoko is positioning itself for greater impact. The organisation has announced an ambitious goal to invest $150 million in 550,000 small and micro businesses by 2030, and is actively seeking like-minded partners to scale its mission.
'This recognition from the Financial Times is an honour,' Mugabo added. 'But the real measure of our success will be how many others join us in this work.'
Wycliffe Nyamasege
