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Tony Elumelu-Backed Redtech Ranks 32nd in FT Africa Fastest Growing Companies List
By Adedapo Adesanya
Redtech, a technology company backed by Heirs Holdings, has been named in the Financial Times (FT) Africa’s Fastest Growing Companies 2026 list.
The Tony Elumelu-backed startup ranked 32nd out of 130 high-growth companies and also secured a position among Africa’s top 15 fastest-growing fintech companies in its debut appearance on the annual FT/Statista ranking.
Produced by the FT in research partnership with Statista, the ranking identifies Africa’s fastest-growing companies based on compound annual growth rate (CAGR) in revenue between 2021 and 2024. Companies also had to meet additional criteria, including minimum revenue thresholds, independence and primarily organic growth. Redtech’s inclusion provides independent validation of its growth as an African payment infrastructure company.
The recognition comes as Redtech’s flagship platform, RedPay, continues to scale across physical and digital payment channels. Through RedPay, the company enables businesses to collect, process, confirm, reconcile, disburse, and manage funds through secure, scalable technology built for African commerce.
Last week, the company announced a rare fintech-bank-telco alliance with MTN’s mobile fintech unit and UBA, to expand cardless payment access for consumers and merchants across Nigeria.
Speaking on the development, Mr Elumelu, the Group Chairman of Heirs Holdings, said, “Africa’s next growth era will be powered by entrepreneurs, enterprises, and the infrastructure that enables them to succeed. Redtech’s recognition among Africa’s fastest-growing companies demonstrates what is possible when we invest in solutions built for Africa’s realities. Through RedPay, Redtech is helping merchants, fintechs, and financial institutions transact with greater speed, security, intelligence, and control. This is Africapitalism in action: building profitable, sustainable businesses that create prosperity across Africa.”
The numbers have also backed up Redtech’s growth. This is visible across four strategic areas, including a boost in transaction as the company processed $27 billion (N37.2 trillion) to date, more than three times the over $8.9 billion (N12 trillion) processed by the end of 2024; it has deployed 55,000 RedPay POS terminals within 16 months across merchant locations in Nigeria, supporting payment acceptance across sectors including hospitality, energy, banking, fintech, retail, utilities, and enterprise services; while its infrastructure supports payments in five UEMOA countries – Benin, Burkina Faso, Côte d’Ivoire, Mali, and Senegal.
Redtech operates with key regulatory approvals, including licences from the Central Bank of Nigeria as a Payment Terminal Service Provider (PTSP), Payment Solution Service Provider (PSSP), and Super Agent, enabling the company to provide POS, payment gateway, and agency banking services. The company also holds relevant Nigerian Communications Commission (NCC) authorisation for communications-enabled value-added services.
As part of its growth roadmap, Redtech is working to expand its payment infrastructure capabilities across African markets, with a long-term ambition to support merchant collections and financial technology services in 29 African countries within the next year.
Adding his input, Mr Emmanuel Ojo, CEO of Redtech, said: “Redtech’s inclusion in the Financial Times Africa’s Fastest-Growing Companies ranking recognises the infrastructure we are building and the African businesses that rely on it every day. At Redtech, growth is not only about transaction value or market reach; it is tied to a belief that when African businesses have payment systems they can trust, they are better placed to trade, serve customers and expand with confidence.
“That is the Heirs Holdings Africapitalism philosophy in practice – private-sector execution building the rails for African prosperity. Our focus is on strengthening the infrastructure that allows businesses across the continent to collect, pay, and grow.”
Brands/Products
PRovoke Media Crowns Woodrow Africa Agency of the Year
By Adedapo Adesanya
Woodrow has been named Africa Agency of the Year 2026 by PRovoke Media, one of the world’s leading authorities on the communications industry.
The award recognises Woodrow’s rapid growth across the continent and its work supporting clients navigating some of Africa’s most complex communication, policy, reputation and stakeholder challenges.
In announcing the award, PRovoke Media described Woodrow as “a different kind of communications firm for Africa. Built locally, but operating across borders, with a focus on high-stakes, high-complexity mandates that reflect the realities of the continent’s political and economic landscape.”
Founded five years ago by Mr Charlie Tarr, who has spent more than two decades working across African markets advising various organisations, Woodrow has grown from its Nairobi headquarters into a multi-market African consultancy. It now has teams and partners across Kenya, Nigeria, Ghana, Zambia, Senegal and South Africa, delivering work across 13 countries.
Since 2024, Woodrow has more than doubled revenue, expanded delivery across more African markets and supported assignments that have generated global audiences exceeding 70 million people in multiple markets.
Speaking on the recognition, Mr Charlie Tarr, Founder and CEO of Woodrow Communications, said, “When we started Woodrow, we believed Africa deserved communications advice built for Africa’s realities, not imported templates. This recognition is a testament to our people, our clients and our belief that world-class strategic communications can be built from the continent and compete with the very best anywhere in the world. This feels more like a beginning than an arrival.”
Adding his input, Mr David Karega, Head of East and Southern Africa, added, “This award belongs to the team and the clients who have trusted us with some of their most important moments. From major launches and investment announcements to reputation management, policy engagement and crisis situations, we have had the privilege of helping them achieve influence. It shows that globally recognised PR excellence can be built from Nairobi and delivered across Africa.”
Woodrow’s growth has been driven by its local-first operating model, combining deep in-market expertise with regional coordination and strategic advisory support. It supports organisations such as AGRA, Bupa Global, BIC and a range of international foundations, investors and development institutions working across Africa.
Looking ahead, Woodrow is investing in new capabilities around digital influence, audience intelligence and integrated stakeholder engagement to help clients navigate the media landscape in Africa.
“Africa has never been a side conversation for us,” Mr Tarr added, “It sits at the centre of our work and future. The continent is producing some of the world’s most important opportunities in technology, investment, food systems, climate and economic transformation. We are excited to continue helping clients shape those conversations, build influence and contribute to Africa’s growth.”
Brands/Products
SportyTV Joins DStv and GOtv Line-Up Across Africa
SportyTV has been added to select DStv and GOtv packages in Nigeria, expanding the sports content available to subscribers. The 24-hour sports channel offers a range of live sporting events alongside news, analyses, highlights and is available to DStv Yanga and GOtv Jolli customers. The channel is also available on GOtv in Kenya and Ghana.
The addition of SportyTV complements the existing sports offering on DStv and GOtv, providing subscribers with access to additional football, basketball and combat sports content.
“SportyTV is a valuable addition to the DStv Access and GOtv Value content offering across Africa,” said David Mignot, CEO of CANAL+ Africa. “It expands the range of sporting events available to customers at an accessible price point and reflects our commitment to making quality sports content available to audiences across the continent.”
Sudeep Ramnani, Founder and CEO of Sporty Group, said: “Our ambition has always been to provide African audiences with broad access to sports content and storytelling. Through this partnership with CANAL+, we are extending that offering to more households across the continent.”
“The SportyTV channel gives DStv and GOtv subscribers additional viewing options that complement SuperSport’s existing range of sports programming,” said Rendani Ramovha, Director of Sport Content for English and Portuguese-speaking Africa at CANAL+. “It broadens the overall sports proposition with additional live events and supporting content.”
SportyTV’s football schedule includes competitions such as the English Premier League, Carabao Cup, EFL Championship, Women’s FA Cup, La Liga, Bundesliga, Serie A and the Spanish Super Cup. The channel also carries South American competitions including the Copa Libertadores, Argentina League and Brazil Serie A, as well as select basketball and other international sports content.
Elias Gallego, Vice President of Business Development, Marketing and Media at Sporty Group, said: “Launching SportyTV on DStv and GOtv allows us to extend our reach and bring a broader range of sports content to viewers across Africa.”
SportyTV will also carry dedicated club channels including Real Madrid TV, Arsenal TV, Chelsea TV and Manchester City TV. Additional content includes coverage from leagues in Greece and Saudi Arabia, alongside basketball programming featuring the NBA.
The channel launched on 10 June 2026 and is available in HD on DStv channel 236 and GOtv channel 58 in Nigeria.
Brands/Products
Sachet Alcohol Ban: NAFDAC Targets Distributors, Retailers in Second Phase of Enforcement
By Adedapo Adesanya
The National Agency for Food and Drug Administration and Control (NAFDAC) has unveiled plans to commence the second phase of enforcement of its ban on sachet alcohol and small-pack alcoholic beverages, targeting distributors and retailers.
The regulator said it had completed the first phase of enforcement targeted at manufacturers, while plans were already in motion to begin the second phase of enforcement.
The agency began enforcement of the ban on sachet and 200ml PET bottle alcoholic drinks in January.
The enforcement, which generated mixed reactions, according to NAFDAC, was necessitated to align the country with global health standards and Sustainable Development Goal 3.5 on reducing harmful alcohol consumption.
The agency also said the decision was taken to ensure that children do not have access to alcohol and to prevent long-term health problems associated with its consumption.
Mr Martins Iluyomade, Director of Investigation and Enforcement at NAFDAC, warned at a news conference in Lagos that distributors and sellers found violating the law would face sanctions once the enforcement begins.
“We have finished removing the products from manufacturers, and we are now moving to the next phase, which is removing them from the market.
“We will investigate how these products are still finding their way into circulation and take appropriate action,” he said.
He emphasised that the nation’s law empowers NAFDAC not only to regulate the manufacture and sale of regulated products but also their use.
“The law gives us authority over manufacture, sale, distribution and use. Consumers should be aware that using products that have been prohibited also places them on the wrong side of the law,” he said.
The director urged market operators who still stock sachet alcohol and other prohibited products to discontinue sales before enforcement begins.
“We have given ample notice. Those who have invested money in these products should take steps now because nobody should accuse NAFDAC of economic sabotage when enforcement starts,” he added.
Mr Iluyomade, also Chairman of the Federal Taskforce, said that the agency would go after advertisers and online vendors promoting unregistered products or making unapproved health claims.
He explained that registered products could be advertised only after obtaining the necessary approvals from the agency.
“Before advertising a regulated product, marketers must obtain NAFDAC approval. This ensures that only approved claims are made about the product.
“Any advertisement that goes beyond what has been approved is a serious offence,” he said.
He further cautioned social media operators, e-commerce platforms and website owners against allowing their platforms to be used for the promotion of unregistered products.
“Whether you are a physical vendor or an online vendor, if your platform is used to advertise unregistered products or products without advertisement permits, we will come after you.
“Many false claims are being made online, and we are determined to stop them,” he said.
The agency reiterated its commitment to protecting public health through strict enforcement of existing regulations and urged Nigerians to comply with the law.
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