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By Chukwuma Umeorah
The Financial Times has listed Flour Mills of Nigeria (FMN), one of the nation’s leading food and agro-allied groups among several top brands in Africa in its annual ranking list of Africa’s fastest-growing companies.
The list which was published recently by FT/Statista showed that FMN ranked 58 among other leading companies in Nigeria and Africa including Julius Berger, Dangote PLC, MTN, Sterling Bank amongst others.
According to Financial Times and Statista, a data company, the compound annual growth rate (CAGR) in revenue of these companies from 2018 to 2021 was used as a major benchmark for listing. It announced that the ranking offered a helpful guide to the companies and sectors that are managing to do business in a complex and fast-changing environment.
In a statement issued on Monday, FMN noted that the company’s recognition by the Financial Times’ was a testament of the Group’s commitment to sustainable growth and development in the African market.
It noted that for over the years, FMN had made significant investments in the development of local content and the build-up of human capacities through its commitment to sustainably feeding the nation.
Reacting to the listing, FMN’s Group GMD/CEO, Boye Olusanya said that, “For the past six decades, we have been consistent in affording our consumers superior quality products which endeared many to our brands. And because our business is ultimately about providing for the livelihoods of millions of families, we have also continued to innovate across all our value chains.”
While assuring sustained commitnment to their course, Olusanya also said that the recognition by Financial Time was a remarkable and applaudable feat further demonstrating the Group’s excellence, innovation, and sustainable growth not just in Nigeria but gradually across the continent.
He added that, “FMN’s growth strategy has been centered around the development of local content, investing in people and technology, and driving efficiencies in our operations. The Group has also been focused on delivering value to our customers through a diverse portfolio of products and services.”
