Redtech FT Africa Fastest Growing Companies ranking has placed the Tony Elumelu-backed firm among the continent’s top performers, marking a major milestone for the African payment infrastructure company.
Redtech, backed by Heirs Holdings and supported by Tony Elumelu, ranked 32nd out of 130 companies in the 2026 list published by the Financial Times in partnership with Statista. The company also made the top 15 fastest-growing fintech firms in Africa in its first appearance.
Redtech FT Africa Companies Ranking Validates Growth
The Redtech FT Africa Fastest Growing Companies ranking is based on revenue growth between 2021 and 2024. Companies were assessed using compound annual growth rate and had to meet strict requirements, including minimum revenue levels and independent growth.
Redtech’s inclusion confirms its rapid expansion as a key player in Africa’s payment infrastructure space.
RedPay Drives Redtech FT Africa Success
A major driver behind the Redtech FT Africa Fastest Growing Companies ranking is its platform, RedPay. The system helps businesses manage payments across both physical and digital channels.
Through RedPay, companies can collect, process, confirm, and manage funds using secure and scalable technology designed for African markets.
Partnerships Strengthen Redtech FT Africa Companies Position
Redtech recently formed a partnership with MTN and United Bank for Africa to expand cardless payment options in Nigeria.
According to Tony Elumelu, this kind of investment shows how African businesses can grow by building solutions tailored to local needs. He described Redtech’s progress as an example of “Africapitalism,” where businesses create both profit and broader economic value.
Strong Numbers Behind Redtech FT Africa Fastest Growing Companies
The company’s performance supports its position in the Redtech FT Africa Fastest Growing Companies ranking:
- Total transactions processed reached $27 billion, up from $8.9 billion in 2024
- Over 55,000 RedPay POS terminals deployed across Nigeria within 16 months
- Payment services expanded to five West African countries, including Benin and Senegal
These figures show rapid growth in both scale and market reach.
Expansion Plans After Recognition
Redtech operates under licences from the Central Bank of Nigeria and has approvals from the Nigerian Communications Commission.
Looking ahead, the company plans to expand its payment infrastructure into up to 29 African countries. CEO Emmanuel Ojo said the focus is on building reliable systems that help businesses grow and serve customers better.
