Redtech Makes Financial Times Debut as One of Africa’s Fastest Growing Companies

In a significant validation of its growth trajectory, Redtech, the payment infrastructure company backed by Heirs Holdings, has earned a spot on the Financial Times (FT) “Africa’s Fastest Growing Companies 2026” list. The fintech ranked 32nd out of 130 high-growth companies across the continent and secured a position among Africa’s top 15 fastest-growing financial technology firms in its debut appearance on the annual FT/Statista ranking.

The recognition underscores Redtech’s rapid expansion as an African payment infrastructure provider, particularly through its flagship platform, RedPay. The company enables businesses to manage all aspects of payments—from collection and processing to disbursement and reconciliation—through secure, scalable technology tailored for African commerce.

Key Growth Metrics Highlighted

Redtech’s inclusion on the FT list is supported by impressive growth figures:

  • Transaction volume: Processed $27 billion (₦37.2 trillion) to date, more than triple the $8.9 billion (₦12 trillion) processed by year-end 2024
  • Merchant network: Deployed 55,000 RedPay POS terminals across Nigeria in just 16 months, serving diverse sectors including hospitality, energy, banking, retail, and utilities
  • Regional reach: Supports payments in five UEMOA countries (Benin, Burkina Faso, Côte d’Ivoire, Mali, Senegal) with plans to expand further
  • Regulatory approvals: Holds key licenses from the Central Bank of Nigeria as a Payment Terminal Service Provider, Payment Solution Service Provider, and Super Agent

Executive Perspectives on Redtech’s Success

Tony O. Elumelu, CFR, Group Chairman of Heirs Holdings, emphasized that Redtech’s growth aligns with the company’s Africapitalism philosophy—building profitable businesses that create prosperity across Africa.

“Africa’s next growth era will be powered by entrepreneurs and enterprises,” Elumelu stated. “Redtech’s recognition demonstrates what is possible when we invest in solutions built for Africa’s realities.”

CEO Emmanuel Ojo added, “Growth for us isn’t just about transaction numbers; it’s about building payment systems African businesses can trust to trade with confidence.”