Marketsquare owner named among Africa’s fastest-growing firms

Marketsquare owner named among Africa’s fastest-growing firms 

Sundry Markets Limited (SML), the company behind the popular Marketsquare supermarket chain, has been recognized by the Financial Times as one of Africa’s fastest-growing companies for the second year in a row. In the 2025 Financial Times ranking—created in partnership with Statista—SML was placed 47th out of 130 top-growing companies across Africa. This recognition highlights SML’s strong leadership position in Nigeria’s organized retail market.

The ranking is based on growth measured from 2020 to 2023. During this period, SML achieved an impressive Compound Annual Growth Rate (CAGR) of 59.2% and an Absolute Growth Rate (AGR) of 303.6%. 

The company is not only among the fastest-growing firms on the continent but is also inferred to be the fastest-growing retail company in Africa. Additionally, SML reported the third-highest revenues among the companies listed.

Ebele Enunwa, SML’s Founder and CEO, expressed pride in this achievement, attributing it to the hard work of the company’s management, staff, and stakeholders. He reaffirmed SML’s dedication to building a modern retail company that meets the changing needs of Nigerian consumers while supporting local solutions.

Since its establishment in 2015, SML has grown from a single store to operating 36 stores across 14 Nigerian cities. This recent recognition is expected to motivate the company’s team to continue driving success in Nigeria’s retail industry.