Hubtel, Ghana’s leading digital payments platform, has been ranked 48th among Africa’s fastest-growing companies by the Financial Times. The company hit USD 63.68 million in revenue for 2024 — a major milestone that shows Ghanaian fintech can scale.
Here’s what happened and why it matters for you.
What Hubtel’s ranking means
Hubtel’s growth is different from the headline-grabbing startups you hear about. Most fast-growing African companies grow fast because they start from almost nothing. Hubtel grew fast while already running a big, profitable business — processing millions of transactions daily across Ghana.
The company grew its revenue at a rate of 52.63% per year over three years (2021 to 2024), nearly quadrupling from USD 17.91 million in 2021.
Out of three Ghanaian companies in the Financial Times’ top 50 fastest-growing African firms, Hubtel is the most established and the only one operating in fintech — Ghana’s hottest tech sector.
How a messaging company became a payments giant
Hubtel didn’t start as a fintech. Two decades ago, it was a messaging company. Around 2015, when mobile money (like MTN MoMo) took off in Ghana, Hubtel saw the shift coming and pivoted hard into digital payments infrastructure.
Today, the company runs 23 offices across Ghana and processes e-payments for thousands of businesses — from traders to online shops.
But here’s the catch: even as Ghana’s number one fintech, Hubtel processes only about 12% of all transactions in the economy. CEO Alex Bram put it plainly: “This economy has over 800,000 such businesses. There is still a lot of room to grow.”
Translation? Hubtel has room to get much bigger without leaving Ghana.
What this win says about Ghana
When a Ghanaian company cracks Africa’s top 50 fastest-growing firms, it’s not just a company win — it’s proof that homegrown tech can compete at scale. Hubtel’s ranking shows investors and entrepreneurs that you can build something real in Ghana, not just chase overseas markets.
The company was also recently named Overall Best Fintech Partner at MTN Ghana’s MobileMoney awards, underlining its importance to the local fintech ecosystem.
What you should watch
If you use digital payments, accept mobile money for business, or work in e-commerce, Hubtel’s growth matters. As they expand, they’re shaping how Ghanaians pay and do business online.
Keep an eye on whether Hubtel expands into other African markets or stays focused on Ghana’s opportunity. Both bets have merit — and both will tell us something about Ghana’s tech future.
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