Nigerian Company, Zone, Only Blockchain Entity on ‘Africa’s Fastest Growing Companies 2023’ List by Financial Times and Statista

Zone, (formerly Appzone) was the number one ranked blockchain company in a recent report by Financial Times and Statista titled ‘Africa’s Fastest Growing Companies 2023.’

The annual ranking by the Financial Times and Statista aims to identify the top performers in Africa’s private sector. It recognizes companies that have demonstrated remarkable growth and made significant contributions to their respective sectors.

Zone was ranked 74th on the list, making it the only blockchain-based organization on the top 100.

Obi Emetarom, Co-Founder and Chief Executive of Zone, expressed his excitement about the announcement, saying that the team is ‘deeply honoured by this recognition from the Financial Times and Statista.’

“By fulfilling our mission, we are laying the foundation for a truly cashless world while expanding access to financial services and fostering a more inclusive and prosperous future for the African continent.”

Zone re-branded in December 2022 from Appzone whereby it also pivoted from its cloud-based SaaS infrastructure to offer payments processing services that support both fiat money and digital currencies with the intention to enable a hybrid interim period in finance where TradFi and DeFi will co-exist seamlessly.

The company works with over 20 of the biggest commercial banks, fintechs and OFIs in Africa connected to its Layer-1 blockchain network in its mission of laying the rails for a world where digital payments are frictionless, borderless, and compatible with every form and store of money. This is done through its decentralized payment network which allows participating institutions to connect directly with each other and perform payment transactions without an intermediary while completely automating settlement, reconciliation, and dispute management.

Zone also obtained a payment switching license from the Central Bank of Nigeria. This license has enabled the company to expand its decentralized payment network and establish connections with different financial services providers.

Released in early May 2023, Africa’s Fastest Growing Companies 2023 lists 100 companies, ordered by the highest compound annual growth (CAGR) in revenues between 2018 and 2021.

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