Rwanda: Inkomoko Named 8th Fastest-Growing Private Company in Africa, Leading East Africa’s Rankings

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Inkomoko Entrepreneur Development Ltd, a pioneering Rwandan social enterprise, has achieved a major milestone by being ranked the 8th fastest-growing private company in Africa by the Financial Times. This places Inkomoko at the top of the list for East African companies, and it stands out as the only Rwandan company to feature in the rankings.

The prestigious list, compiled in partnership with research firm Statista, is now in its fourth year and evaluates companies based on their compound annual growth rate (CAGR) from 2020 to 2023. Inkomoko’s impressive growth over this period reflects both its entrepreneurial spirit and its deep-rooted commitment to community empowerment.

Founded 12 years ago, Inkomoko has grown from a local initiative into a regional force for economic development. To date, the organisation has invested more than USD 35 million, supporting over 100,000 entrepreneurs and positively impacting more than 1.2 million people across Rwanda, Kenya, Ethiopia, South Sudan, and, most recently, Chad.

Operating at the intersection of business support and social impact, Inkomoko delivers services in refugee camps and host communities, providing critical tools and resources to help micro and small enterprises thrive. These efforts are part of a broader mission to break down barriers to economic inclusion.

“This isn’t just our growth story — it’s our clients’ and the communities we serve,” said Emmanuel Mugabo, Inkomoko’s Managing Director in Rwanda. “Every business we support is a reminder that talent is everywhere, but what is missing is access — and that’s something we can fix together with partners, investors, and policymakers.”

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Looking ahead, Inkomoko has set an ambitious target: to invest USD 150 million in 550,000 businesses by the year 2030, further deepening its impact across the continent. While acknowledging the honour of the Financial Times recognition, Mugabo emphasised that the true success lies in collective action. “This recognition from the Financial Times is an honour,” he said. “But the real measure of our success will be how many others join us in this work.”

Among the few East African companies on the FT list, only Inkomoko and Numida Technologies Inc. from Uganda were included in the top 50, underlining Inkomoko’s leading role in driving sustainable growth and entrepreneurial development in the region.