Heirs Holdings-backed technology company ranks 32nd out of 130 companies and among Africa’s top 15 fastest-growing fintechs
Lagos, Nigeria. Tuesday, 12th May 2026. Redtech [1], a technology
company backed by Heirs Holdings, has been named in the Financial T
[2]imes [2] (FT) “Africa’s Fastest Growing Companies 2026 [3]”
list. Ranking 32nd out of 130 high-growth companies, the company also
secured a position among Africa’s top 15 fastest-growing fintech
companies in its debut appearance on the annual FT/Statista ranking.
Produced by the FT in research partnership with Statista [4], the
ranking identifies Africa’s fastest-growing companies based on
compound annual growth rate (CAGR) in revenue between 2021 and 2024.
Companies also had to meet additional criteria, including minimum
revenue thresholds, independence and primarily organic growth.
Redtech’s inclusion provides independent validation of its growth as
an African payment infrastructure company
The recognition comes as Redtech’s flagship platform, RedPay,
continues to scale across physical and digital payment channels. Through
RedPay, the company enables businesses to collect, process, confirm,
reconcile, disburse, and manage funds through secure, scalable
technology built for African commerce.
Tony O. Elumelu, CFR, Group Chairman, Heirs Holdings, said:
“Africa’s next growth era will be powered by entrepreneurs,
enterprises, and the infrastructure that enables them to succeed.
Redtech’s recognition among Africa’s fastest-growing companies
demonstrates what is possible when we invest in solutions built for
Africa’s realities. Through RedPay, Redtech is helping merchants,
fintechs, and financial institutions transact with greater speed,
security, intelligence, and control. This is Africapitalism in action:
building profitable, sustainable businesses that create prosperity
across Africa.”
Redtech’s growth is visible across four strategic areas, including:
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- Transaction scale: Redtech has processed $27 billion (₦37.2 trillion)
to date – more than three times the over $8.9 billion (₦12 trillion)
processed by the end of 2024 - Merchant infrastructure: Redtech has deployed 55,000 RedPay POS
terminals within 16 months across merchant locations in Nigeria,
supporting payment acceptance across sectors including hospitality,
energy, banking, fintech, retail, utilities, and enterprise services. - Regional growth and interoperability: RedPay infrastructure supports
payments in five UEMOA countries – Benin, Burkina Faso, Côte
d’Ivoire, Mali, and Senegal . In Nigeria, Redtech’s recent MoMo PSB
and UBA partnership connects mobile money users to participating UBA
merchant locations through RedPay POS terminals. - Regulated payment capability: Redtech operates with key regulatory
approvals, including licences from the Central Bank of Nigeria as a
Payment Terminal Service Provider (PTSP), Payment Solution Service
Provider (PSSP), and Super Agent, enabling the company to provide POS,
payment gateway, and agency banking services. The company also holds
relevant Nigerian Communications Commission (NCC) authorisation for
communications-enabled value-added services.
As part of its growth roadmap, Redtech is working to expand its payment
infrastructure capabilities across African markets, with a long-term
ambition to support merchant collections and financial technology
services in 29 African countries within the next year.
Emmanuel Ojo, CEO of Redtech, said: “Redtech’s inclusion in the
Financial Times Africa’s Fastest-Growing Companies ranking recognises
the infrastructure we are building and the African businesses that rely
on it every day. At Redtech, growth is not only about transaction value
or market reach; it is tied to a belief that when African businesses
have payment systems they can trust, they are better placed to trade,
serve customers and expand with confidence. That is the Heirs Holdings
Africapitalism philosophy in practice – private-sector execution
building the rails for African prosperity. Our focus is on strengthening
the infrastructure that allows businesses across the continent to
collect, pay, and grow.”
About Redtech
Redtech [1] is a technology company building secure, reliable, and
scalable systems that power prosperity for businesses across Africa. Our
business spans two pillars: RedPay®, a modern suite of payment
solutions for businesses and consumers; and SITCOM®, our integrated
energy technology solutions for upstream oil & gas operators.
