HomeNewsField is Africa’s fastest-growing healthtech company – The Financial Times
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Michael Moreland
09 MAY 2022

Field is Africa’s fastest-growing healthtech company – The Financial Times

We are excited to be the fastest growing healthtech in Africa, having ranked 24th out of 75 on the Financial Times’ inaugural list of Africa’s fastest growing companies in 2022. As a healthtech that started operations in 2015 with just 7 people and a passion to transform and improve access to affordable, quality healthcare across Africa, this comes as a great endorsement and acknowledgement of the progress we have made over this period.

The Financial Times’ ranking of the fastest growing African companies was based on accelerated business trends, innovations, adaptability and resilience post-Covid-19 pandemic. It was a multisectoral research effort that looked into startups within the informal trade, fintech, mining, agritech, healthtech, and real estate sectors, amongst others. Financial Times collaborated with research company Statista to compile this list by reviewing companies’ compound annual growth (CAGR) in revenues between 2017 and 2020.

Field recorded an Absolute Growth Rate (AGR) of 178.7%, Compound Annual Growth Rate (CAGR) of 40.7% and a total revenue of $2.3M between 2017 to 2020. In this period we also increased our employee numbers from 7 to 44, and expanded into new markets. Beyond these metrics used by the FT and Statista, our impact is being felt across the continent’s pharmaceutical supply chains. Shelf Life, our digitalized pharmacy subscription service, has empowered over 1,000 pharmacies across Nigeria and Kenya to gain access to varied medical supplies, reducing cost and ensuring availability, and expanding their distribution networks.

With 1.5 million patients served and an 85% increase in pharmacy numbers last year, we are poised to maintain our momentum in making pharmaceutical products readily accessible to pharmacies and drug stores, and committed to collaborating with African governments to provide interventions that help win the fight against diseases and inefficiencies on the continent.