Zedcrest Emerges Fastest-Growing in Nigeria’s Financial Services Sector

By Aduragbemi Omiyale

In the financial services sector in Nigeria, Zedcrest Group is the fastest-growing company, according to Financial Times, a leading financial news platform in the world.

In the inaugural 2022 Financial Times ranking for Africa’s Fastest Growing Companies published on Tuesday, May 3, it was stated that the Lagos-based firm is the second fastest growing organisation in the country and fifth in Africa.

Zedcrest prides itself as Africa’s new-age principal investing and financial solutions powerhouse, with subsidiaries that are well recognized and celebrated as industry leaders in securities markets, consumer finance, and asset management.

Its principal investing business is heavily focused on technology-driven business models across commerce, finance and social impact sectors (education, healthcare and agriculture) leveraging technology, global partnerships & best-in-class processes.

The company has backed more than 50 companies across the African continent over the past 36 months, including high growth companies like Leatherback, Koniku, Reliance Health, Helium Health, Utiva, Bankly, Bento, Abwaab, Indicina, TalentQL, Flyr Labs, Yoello and Zumi.

Asides from technology investments, Zedcrest is also invested in oil and gas upstream and midstream assets, with investments in Ingentia Energies, operator of the newly awarded Egbolom, an onshore (swamp) marginal field situated in OML 23, located in the Central Niger Delta Sedimentary Basin.

According to Financial Times, “Many of the fastest-growing companies, especially in the fintech sector, are those seeking to tap Africa’s unbanked population or markets that have previously been underserved or ignored.

“The health and education sectors, for example — spurred by unmet needs and rising aspirations — are among those offering the most scope for growth.”

It was gathered that the list was compiled with Statista after months of study, public calls, intense database research, and direct interaction with over 900 public companies on the continent.

A total of 75 firms were ranked among millions of African-based businesses based on their revenue compound annual growth (CAGR) between 2017 and 2020.

Commenting on the inclusion of the firm in the list, the Group Managing Director of Zedcrest Group, Mr Adedayo Amzat, stated that, “It’s an honour to be ranked on the inaugural FT Africa’s Fastest-Growing Companies list.”

“It is a direct reflection of the leadership team we have in place, and I couldn’t be more proud of our team. We’ve been fortunate to extend our business across different verticals of the financial sector over the past few years and we’ll continue to evaluate opportunities in other markets as part of our future growth strategy,” he added.

He reaffirmed the company’s commitment to building inter-connected financial solutions across Africa through technological innovation while ensuring global best practices.