Chandaria Industries has been named in the London Stock Exchange Group (LSE) Companies to Inspire Africa 2017 report, which showcases the continent’s dynamic private, high growth companies that have come to the attention of major global investors. The inaugural report, launched in partnership with African Development Bank Group, CDC Group, and PWC, which contributed their expertise to the report by nominating companies they identified as high
growth businesses, was sponsored by FTI consulting, Citigroup and Diamond Bank. The report nominated 343 companies in 42 African countries based on their company status, growth, size, and auditability. The companies had to have been privately held, and demonstrated growth over the past three years, in revenue, employees, and output or geographic expansion. In addition, the company’s annual revenue as an independent company or as a consolidated group had to be less than $1bn for the years 2012 – 2015, based on the company’s audited financial accounts, which had to be audited and accredited by a ‘Big Four’ Firm or a local affiliate. The selection of Chandaria comes after its recent announcement of its entry into Malawi, as its 12th market in Africa, and as part
of a regional expansion that has seen it move to earning a fifth of its revenues from its African export markets.
“As a company, we’ve strived over the years to build an industry that not only promotes Kenyan brands through manufacturing 100 per cent of all our products in Kenya, but also creates employment to the over 20,000
people who are employed in our waste paper collection and distribution sector. It is, therefore, a great honour that our efforts are being recognised not only within the country, but even globally,” said Darshan Chandaria,
Chandaria Group CEO.
“We are motivated to continue providing affordable basic hygiene and sanitation to over 100m consumers across Africa and in the process transform lives,” he added. According to the World Bank, “small and medium-sized
enterprises (SMEs) account for up to 90 per cent of all businesses across Sub-Saharan African markets,” illustrating the significance of the SME sector to the continent’s future. Moreover, most of the SMEs nominated in the
LSE report have been financed through equity finance, with major investors capitalizing on these high-growth firms.