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Sundry Markets Limited, the operator of the popular Marketsquare supermarket chain, has been recognised by the Financial Times as one of Africa’s fastest-growing companies for the second consecutive year.
In its 2025 edition, which is the fourth in the series, FT, in collaboration with Statista, ranked SML 47th out of 130 fastest-growing companies across the continent. This recognition affirms SML’s leadership in Nigeria’s organized retail sector.
The FT ranking, developed with Statista, is based on the compound growth rate from 2020 to 2023. During this period, SML achieved a Compound Annual Growth Rate (CAGR) of 59.2% and an Absolute Growth Rate (AGR) of 303.6%. Notably, Sundry Markets Limited was recognized as one of the fastest-growing companies in Africa and can be inferred to be the fastest-growing retail company on the continent. The report also shows that SML posted the third-highest revenues amongst the fastest-growing companies listed on the continent.
Mr. Ebele Enunwa, the Founder and Chief Executive Officer of SML, expressed his excitement about the achievement, crediting it to the dedication and hard work of the management and staff, as well as the collaboration among employees and stakeholders. Enunwa emphasized SML’s commitment to developing a modern retail company that caters to the evolving needs of Nigerian consumers while promoting homegrown solutions.
This recognition is expected to boost the morale of SML’s management and staff, encouraging them to continue excelling in Nigeria’s retail sector.
Established in 2015, SML has expanded from operating a single store to running 36 stores across 14 cities in Nigeria. SML aims to hit a milestone of at least 50 operational stores in various Nigerian cities by the end of 2026.
