Winock Solar has been ranked Africa’s fastest-growing energy company, following its inclusion in the 2025 Financial Times list of Africa’s Fastest-Growing Companies.
The Nigerian renewable energy firm disclosed this in a statement on Wednesday, noting that it was ranked 15th overall in Africa, 6th in Nigeria, and 1st in the energy sector.
The company said the ranking reinforces its position as a key player in driving energy access and inclusion across the continent.
The Financial Times ranking, produced in partnership with Statista, assesses companies based on their compound annual growth rate in revenue between 2020 and 2023.
The latest edition, now in its fourth year, highlights businesses that have demonstrated strong growth despite economic challenges.
According to the statement, Winock Solar recorded a 1,000 per cent increase in revenue and customer base during the review period, driven by “its focus on affordability, customer service, and product innovation.”
“This ranking is a testament to the resilience and vision that fuels everything we do at Winock,” the company’s CEO, Mr Sanmi Lajuwomi, said. “Despite the economic setbacks following the COVID-19 pandemic, our mission to democratise energy access has remained unchanged. We are not just installing solar systems—we are lighting up futures, enabling businesses, and driving inclusive progress across Africa.”
It added that the company’s model continues to prove that solar energy can be both commercially viable and socially transformative.
The statement noted that the company’s recent $1.6m equity injection from Acumen Fund Inc. and All On Partnerships for Energy Access had allowed it to expand into new regions, including the Niger Delta, while strengthening its after-sales support infrastructure.
Winock Solar reiterated its commitment to scaling operations in Nigeria and across Africa, urging policymakers and investors to pay greater attention to decentralised clean energy models.
Its recognition comes at a time when millions of Nigerians continue to face unreliable grid electricity and rising energy costs, reinforcing calls for alternative energy solutions.
Some Nigerian firms on the FT list include Omniretail Inc., PalmPay Ltd, Remedial Health Inc., Termii Inc., Bisedge Ltd., Moniepoint Inc., Evercare Hospital Lekki Ltd., Neveah Ltd., Alpha Morgan Capital Managers Ltd., BlueCamp Ltd., X3M Marketing Ideas Ltd., Chams Holding Company Plc, Transcorp Hotels Plc, Emerging Africa Capital Ltd., Nigerian Aviation Handling Company Plc, Sundry Markets Ltd., and United Capital Plc.
Others include The Tourist Company of Nigeria Plc, Trexm Holdings, FoodCo Nigeria Ltd., Fidson Healthcare Plc, Meyer Plc, Comercio Partners Ltd, Amel International Services Ltd. Skyway Aviation Handling Company Plc, St. Nicholas Hospital Ltd. and Paga Group Ltd.
