{"id":546345,"date":"2022-05-12T03:52:18","date_gmt":"2022-05-12T03:52:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/karm-solar-efg-hermes-gb-auto-are-among-africas-fastest-growing-companies-according-to-the-ft\/"},"modified":"2022-05-12T03:52:18","modified_gmt":"2022-05-12T03:52:18","slug":"karm-solar-efg-hermes-gb-auto-are-among-africas-fastest-growing-companies-according-to-the-ft","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/karm-solar-efg-hermes-gb-auto-are-among-africas-fastest-growing-companies-according-to-the-ft\/","title":{"rendered":"Karm Solar, EFG Hermes, GB Auto are among Africa\u2019s fastest-growing companies, according to the FT"},"content":{"rendered":"<p><strong>KUDOS-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>Karm Solar has been named as one of Africa\u2019s 20 fastest-growing companies<\/strong> in the Financial Times\u2019 <a href=\"https:\/\/www.ft.com\/africas-fastest-growing-companies\">inaugural Africa edition<\/a> of its \u2018fastest-growing\u2019 lists. The solar energy player placed #19 in the ranking after more than tripling its revenues between 2017 and 2020, making it the second-fastest growing energy company on the continent. Also representing Egypt on the list are <strong>Alexandria Pharma<\/strong> (#40), <strong>Arab Contractors<\/strong> (#54), <strong>EFG Hermes<\/strong> (#55), <strong>MM Group<\/strong> (#71) and <strong>GB Auto<\/strong> (#72).<\/p>\n<p><strong>Our friends at EFG Hermes released <\/strong><strong><a href=\"https:\/\/ent.news\/2022\/5\/EFG-Hermes-Holding-x-Financial-Times-Statista-Ranking-English-1.pdf\">a statement (pdf)<\/a><\/strong><strong> following the publication of the <\/strong><strong>list:<\/strong> CEO Karim Awad said the bank\u2019s inclusion demonstrated its \u201cagility\u201d and \u201csuccess in achieving business growth.\u201d The survey period covers the years during which EFG Hermes completed its transformation from an Egyptian investment bank into a leading frontier emerging markets financial services powerhouse with operations around the globe and a thriving Egyptian NBFS arm.<\/p>\n<p><strong>Egypt isn\u2019t well represented on the list<\/strong>, with only six firms making the grade. By comparison, 24 South African firms and 20 Nigerian companies are featured.<\/p>\n<p><strong>Take the list with a cup or two of salt: Plenty of Egyptian companies grew much faster <\/strong><strong>than, say, #75, Morocco\u2019s Hightech Payment<\/strong>, which posted a revenue CAGR of just 8% in the survey period. Take Fawry: The Egyptian payments giant posted a revenue CAGR in the same period of nearly 42%, which would have placed it in the top 25 (presuming there were no other changes to the list). Hell, little old Enterprise would (on the basis of our consolidated financials) handily make the list as it stands.<\/p>\n<p><strong>So why are so few Egyptian companies represented here? Because more South African and <\/strong><strong>Nigerian companies applied. <\/strong>The FT\u2019s partner reached out by \u201cpost and email\u201d to companies to ask them to participate by registering on a website. Those companies make up the majority of the list. The FT has chosen to include only 27 \u201chigh profile\u201d publicly traded companies that didn\u2019t apply, but that met its screening criteria.<\/p>\n<p><strong>MEANWHILE- More Egyptian success in Malmo: <\/strong><a href=\"https:\/\/www.ciff.org.eg\/movies\/from-cairo\/\">From Cairo<\/a> won the documentary film <a href=\"https:\/\/www.facebook.com\/maffswe\/posts\/5490908470929042?__cft__[0]=AZVpmC5T1A3TIQscjEEcH0aSZfRfB4ZGf4eRrZDpGylXcCKrGOz6gt8HyHHG_3jh180BV_0GyiLOj7wGjtEvuGkYedwZTlACrXFdL1TztFMVMwSSUIQqyY9DsHf-mv8q-6S0efMOFli7VvtiOrKl83xbUZoxbqAVrIUCAF8pVtN06gVlNTVIDq0M0gaFZTPGRvk&__tn__=%2CO%2CP-R\">jury prize<\/a><a href=\"https:\/\/www.facebook.com\/maffswe\/posts\/5490908470929042?__cft__[0]=AZVpmC5T1A3TIQscjEEcH0aSZfRfB4ZGf4eRrZDpGylXcCKrGOz6gt8HyHHG_3jh180BV_0GyiLOj7wGjtEvuGkYedwZTlACrXFdL1TztFMVMwSSUIQqyY9DsHf-mv8q-6S0efMOFli7VvtiOrKl83xbUZoxbqAVrIUCAF8pVtN06gVlNTVIDq0M0gaFZTPGRvk&__tn__=%2CO%2CP-R\">award<\/a> at the Swedish Malmo Arab Film Festival. Actor Mohamed Mamdouh won best actor at the festival <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4ed5811-e41b-413b-97c1-915639d2abcc\">earlier this week<\/a> for his role in the film Abu Saddam.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KUDOS- Karm Solar has been named as one of Africa\u2019s 20 fastest-growing companies in the Financial Times\u2019 inaugural Africa edition of its \u2018fastest-growing\u2019 lists. The solar energy player placed #19 in the ranking after more than tripling its revenues between 2017 and 2020, making it the second-fastest growing energy company on the continent. Also representing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7230],"tags":[1853,833,84,72,241,1852,249,1854,1851],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546345","post","type-post","status-publish","format-standard","hentry","category-kudos","tag-alexandria-pharma","tag-arab-contractors","tag-efg-hermes","tag-enterpriseam","tag-gb-auto","tag-karm-solar","tag-kudos","tag-malmo-arab-film-festival","tag-mm-group","wpautop","entry"],"acf":{"mongo_id":"312a2a58-3bb8-4cc7-88c7-8a6c48329521","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[546329],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Karm Solar, EFG Hermes, GB Auto are among Africa\u2019s fastest-growing companies, according to the FT - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/karm-solar-efg-hermes-gb-auto-are-among-africas-fastest-growing-companies-according-to-the-ft\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Karm Solar, EFG Hermes, GB Auto are among Africa\u2019s fastest-growing companies, according to the FT\" \/>\n<meta property=\"og:description\" content=\"KUDOS- Karm Solar has been named as one of Africa\u2019s 20 fastest-growing companies in the Financial Times\u2019 inaugural Africa edition of its \u2018fastest-growing\u2019 lists. 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