Inkomoko has been ranked the 5th fastest-growing company in Africa by the Financial Times (FT), making it the only Rwandan company featured on this year’s list.
The recognition highlights its rapid growth and its impact in supporting underserved micro and small businesses across Africa, including entrepreneurs in displacement-affected communities.
This is the second year in a row that Inkomoko has appeared on the prestigious ranking, rising from 8th place last year to 5th this year.
ALSO READ: Rwanda’s Inkomoko among Africa’s fastest growing companies
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Inkomoko is a social impact organisation supporting entrepreneurs with refugee status and host communities in displacement-affected markets across East and Central Africa.
Supporting inclusive entrepreneurship across Africa
Inkomoko partners with entrepreneurs in displaced communities including women, youth, and host communities to provide affordable capital, tailored business advisory, and market access to build inclusive and thriving economies across Africa.
For Inkomoko’s work in Rwanda, this recognition underscores the critical role that micro and small businesses play in creating jobs and strengthening economies, and demonstrates that inclusive investment drives growth in often-overlooked markets.
Deepening impact in Rwanda’s districts and refugee communities
Since its inception in 2012, Inkomoko has partnered with more than 60,000 entrepreneurs, providing affordable capital, business support, and market access. These entrepreneurs include forcibly displaced people and local business owners especially women and youth who build enterprises that serve their communities and strengthen economic resilience.
Currently, it serves entrepreneurs in 14 programme sites including refugee host communities in Mahama, Nyabiheke, Kiziba, Mugombwa and Kigeme refugee camps.
“This recognition is a proud moment for Inkomoko, but more importantly, it reflects the ambition and resilience of the entrepreneurs we partner with in Rwanda,” said Emmanuel Mugabo, Inkomoko’s Rwanda Managing Director.
“When micro and small businesses have the right capital, skills, and access to markets, they grow businesses, create jobs, and strengthen markets. This ranking shows what’s possible when we invest in opportunities where others may not see them.”
WATCH: Our journey supporting Rwandan businesses has been very rewarding – Inkomoko founder
Regional expansion
Inkomoko has grown to a regional organisation supporting entrepreneurs locally in Kenya, Ethiopia, South Sudan, and Central Africa particularly in Chad.
To date, Inkomoko has invested over $37.5 million, supported more than 120,000 entrepreneurs, and positively impacted 1.2 million people across East and Central Africa.
For instance, in Kenya, since 2019, it has supported entrepreneurs from Nairobi to Dadaab, Kakuma, and beyond, through tailored advisory, training, and access to markets and finance.
Another example is Ethiopia, where Inkomoko aligns with key national reforms, including the Refugee Proclamation 1110/2024, the Right to Work Directive, and the Makatet/Inclusion Roadmap. Together, these grant refugees the right to work and run businesses.
FT ranking methodology and private sector role
Directors explained that the Financial Times ranking recognises Africa’s fastest-growing private companies by compound annual growth rate from 2021 to 2024.
Inkomoko’s rise in the ranking underline the private sector’s role in advancing economic inclusion, particularly in communities affected by displacement and limited access to finance and markets.
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“As displacement continues to affect millions across the continent, Inkomoko’s work shows that economic inclusion is not charity. It is a practical investment in entrepreneurs who drive local economies, serve customers, create employment, and build stability,” Emmanuel noted.
Future expansion and investment plans
Inkomoko also plans to invest $150 million by 2030, supporting 550,000 entrepreneurs in displacement-affected and host communities across Africa. The organization will focus on expanding to new regions, strengthening existing operations, and measuring long-term business growth and job creation as core indicators of its impact.
“Our growth is linked to our clients’ success,” said Mugabo. “This recognition reinforces our commitment to working with partners, investors, policymakers, and communities so that micro and small businesses, including those in displacement-affected markets, have what they need to thrive.”
