A year ago we touted $36 million in aggregate annual revenues from the bizi for calendar year 2023, up from $24 million we reported in 2022, up from only $600,000 back in 2014. That is a compounded growth rate of 55% of the past 11 years.
Looking back to the 2010s, what is most obvious is how small all these companies were back then. Common SMEs like hundreds of thousands of others. The big change? Africa Eats.
Africa Eats was created in 2020 to fill in the missing middle of capital and to provide the training and guidance to help SMEs scale up. In 2020 only East Africa Foods had managed to grow beyond $1 million in annual revenues. In 2024, ten bizi have done that.
To dive into the details of their growth, see Fast Growing SMEs.
