Deimos ranks Africa’s fastest-growing IT & Software company by Financial Times

Deimos, a leading technology company specialising in cloud-native solutions, is proud to announce it has been placed first in the IT and Software category of the Financial Times (FT) ranking of Africa’s Fastest-Growing Companies for 2024; placing 15th overall out of 100 companies ranked in Africa. This marks Deimos’ second consecutive entry on the prestigious list. 

Founded in 2018,  Deimos has experienced remarkable success as a bootstrapped company, growing year on year without external investment. Their focused customer-centric approach to service delivery has led the business to grow by 134.9% over the past 3 years, making it Africa’s fastest-growing IT and Software company in 2024. With rising digital transformation and cloud technology adoption across the continent, Deimos is at the forefront of this evolution, scaling cloud solution technology with innovative and groundbreaking solutions such as the Deimos Managed Infrastructure (DMI) platform. Customers include some of  Africa’s most established institutions and innovative companies such as the Central Bank of Nigeria, Yoco, Kuda Bank, Zedcrest, and Moniepoint.

Andrew Mori, CEO of Deimos, said, “We’re extremely proud to be ranked in the Financial Times Africa’s fastest-growing list for the second consecutive time.  As a company that has been entirely bootstrapped, our success is owed to our wonderful customers and our talented team who are dedicated to surpassing industry standards and consistently pushing boundaries. Our growth is reflective of how Africa is progressing technologically and we will continue to build cloud adoption approaches and strategies with battle-tested blueprints for the African market.”

The ranking, now in its third year, continues to highlight the dynamism and growth of companies in sectors including IT, retail, renewable energy, real estate, and e-commerce during what continues to be a generally challenging time for businesses worldwide. 

The FT collaborates with Statista, a data research company, to produce rankings for companies in Europe, Asia, America, and Africa in order of revenue growth. For the 2024 list, the companies were ranked by their compound annual growth rate (CAGR) in revenue between 2019 and 2022. Deimos’ growth rates of 1196% (absolute) and 134.9% (CAGR) in this period, helped Deimos claim top spot among hundreds of other leading companies from various industries. 

Deimos is cloud agnostic, ensuring clients receive the right solution for their unique environment, with partnerships that span Google, HUAWEI, AWS, Azure, Cloudflare, and more. Since its launch, Deimos, based in Cape Town, South Africa with a presence in Nigeria, Ghana, DR Congo and Kenya, has ensured that clients benefit from a secure, highly scalable and fault-tolerant infrastructure environment. To date, Deimos has achieved the Google Infrastructure and Security Specialisations offering trusted guidance and a deeper understanding of the cloud, ensuring robust and secure solutions for clients.