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May 22, 2023 //  //       //  Opinion

Double the Success: Copia Global Makes Financial Times Fastest Growing Companies in Africa List For a Second Year

Allison+Partners client Copia Global was ranked 35th on the Financial Times 2023 Fastest Growing Companies in Africa list.  

Copia Global is a Kenya-based e-commerce startup that combines e-commerce, logistics and Fintech to deliver goods and services to middle- to low-income African consumers in rural areas. This is the company’s second time on the list after featuring on the inaugural Financial Times 2022 list of Fastest Growing Companies in Africa. 

Copia had a nearly 237% Absolute Growth Rate over the period of evaluation, and its Compound Annual Growth Rate of 49.9% made it the top three Kenyan companies on the list in the e-commerce category. Additionally, Copia’s CEO was recently named one of the Disruptive CEOs in Africa by the Africa CEO Forum Awards and was also recognized as one of the founders pushing the limits and creating equity through technology in the Business, Trade and Investment (BTI)/Washington Post Report. 

Founded in 2013, the company's mission is to connect middle- to low-income African consumers with high-quality products at affordable prices. Copia’s success can be attributed to its unique business model, which combines online and offline channels. The company currently has a network of more than 50,000 agents (81% of whom are women) who serve as delivery and payment collection points for customers who do not have access to digital payment platforms. This approach has enabled the company to reach customers who would otherwise be unable to shop online. 

This Financial Times recognition underscores the Copia's commitment to making e-commerce accessible to all Africans, regardless of their income level. The company's unique business model has enabled it to connect with a previously underserved market and provide them affordable, high-quality goods and services 

Copia Global's success is a testament to the potential of e-commerce in Africa and the importance of inclusive business models. Copia’s agents provide goods for 75% customers who are also mostly women, contributing to the financial well-being of their communities. By providing affordable, quality goods to underserved communities and creating jobs and economic opportunities for women, the company helps improve the standard of living for middle- to low-income Africans.  

Copia has won several other awards, demonstrating its innovative business model and transformative approach to building an e-commerce platform that connects mass market consumers to affordable goods and services. These awards include Digital Tech 100 Excellence Award for Best Operator in the Mobile/e-commerce Category, The Most Innovative Supply Chain Projects and Operations Award at the inaugural Africa Supply Chain Excellence Awards (ASCEA), the Best e-commerce Team and Best Customer Service, by the Kenyan E-Commerce Awards and Direct to Consumer Service of the Year Award by AgTech Breakthrough Awards. 

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