8 of the 30 companies within Africa Eats were started in or before 2014. The rest within the last five years. Back in 2014, the cumulative revenues from those 8 companies was $600,000, and back in 2016 the cumulative revenues were 1/10th the $16.8 million from 2021.
The compounded annual growth rate (CAGR) since 2014 is 60% and the Y/Y growth from 2020 to 2021 bests that historic speed. Despite the pandemic, aggregate revenues grew to $9.8 million in 2020 to $16.8 million in 2021.
Looking out into the 2020s, our expectation is that as these companies get larger and larger, their annual growth rate will slow, but the projections show an aggregate of over $100 million by 2025.
The goal for Africa Eats is to file for an IPO in Africa before 2024, and to be publicly listed on the London Stock Exchange well before the end of the decade. We explain in Why a Holding Company why we think this is a great idea for not just these companies, nor Africa Eats’ investors, but for Africa as a whole.
To do that requires no just fast growing companies, but profitable companies. That is not a problem as nearly all have been profitable since their founding.
Everyone eats, and as the African population doubles in the next 15 years, the opportunity to feed Africa only grows.