Keep up to date with the latest news
BUSINESS NEWS: Financial Times lists Mutual Benefits among fastest growing companies

BUSINESS NEWS: Financial Times lists Mutual Benefits among fastest growing companies

Publish date: 2022-06-22 23:05:49 | Author: Nike Popoola | Source:

Mutual Benefits Assurance Plc has been listed among Africa’s fastest growing companies, in a ranking by Financial Times that accessed compound annual growth in revenues between 2017 and 2020.

After announcing the completion of the ranking exercise, Mutual Benefits emerged 61st in Africa and 19th in Nigeria, according to FT.

Seventy-five companies across sectors made the list out of which 20 are Nigerian firms, including Mutual Benefits Assurance Plc.

Mutual Benefits’ annual revenue (net) for 2017 and 2020 were submitted and the company qualified after meeting the criteria for inclusion with its compound annual growth rate at 13.31 per cent and absolute growth rate at 45.49 per cent, above minimum CAGR of 8.58 per cent required for participation.

FT said, “The ranking was created through a complex procedure but does not claim to be complete because some companies do not want to make their figures public.”

The Managing Director/Chief Executive Officer, Mutual Benefits Assurance, Femi Asenuga, commenting on the rating, said: “We are excited to be listed among Africa’s fastest growing companies for 2022, which underscores that we are part of institutions that are creating wealth and boosting the economy not only in Nigeria but across Africa.

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

Contact: theeditor[at]

Source link


Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome job opportunities and career development contents in your inbox, every month.

We don’t spam! Read our privacy policy for more info.