Discover the Three African Unicorns Featured in TIME’s Top 100 Influential Companies

Each year, TIME’s renowned annual list shines a spotlight on 100 companies worldwide that are making remarkable strides in their respective fields. Now in its fifth year, this esteemed recognition celebrates businesses innovating, disrupting, and transforming industries. It’s an opportunity to reflect on the stories behind these brands and to consider the future paths they may lead us down.

Moniepoint Inc

Among the standout companies this year is Moniepoint Inc from Nigeria, a remarkable entity featured alongside industry giants such as Hyundai, GoFundMe, and LinkedIn in the Leaders category. This recognition speaks volumes about its impact on local businesses. With a staggering 90% of Nigeria’s 40 million small and medium-sized enterprises still operating in the informal sector, Moniepoint is not merely a company; it is a bridge guiding these businesses toward formalization and sustainability.

Imagine the everyday market seller, handling transactions in cash, facing the constant challenge of liquidity and trust. Moniepoint facilitates a transition away from cash dependency, enabling these entrepreneurs to access necessary loans and paving the way for growth. Financial inclusion, as CEO and cofounder Tosin Eniolorunda puts it, is not just a concept; it’s “the difference between survival and growth.” This poignant assertion invites us to consider: what does it really mean to be included in today’s economy?

Moniepoint’s journey has been nothing short of extraordinary. In October 2024, it made headlines as one of Africa’s most valuable fintechs, having secured a remarkable $110 million in equity funding that catapulted it into unicorn status. Just picture the possibilities that arise from a company capable of empowering such a vast segment of the population.

Flutterwave

Next on the list is Flutterwave, another shining star from Nigeria recognized in the Titans category alongside colossal names such as Meta, Amazon, and OpenAI. Flutterwave has redefined the digital payments landscape in Africa, creating a robust infrastructure that allows businesses to send and receive money effortlessly across borders.

Imagine being a small business owner trying to navigate the financial crossroad between your local economy and the global market. Flutterwave offers a lifeline. In 2024, the company, now valued at an impressive $3 billion, expanded its money transfer services to all U.S. states except Texas through its Send App. They boast a remarkable speed, completing nearly 98% of transactions in just three minutes. That’s not just impressive; it’s a game-changer.

Not stopping there, Flutterwave introduced digital payment solutions in Saudi Arabia and Turkey, reflecting its drive to engage with a global audience. As CEO Agboola puts it, “I wish it was boring; we’re here for the long game.” His words compel us to ponder: How do we balance immediate success with sustainable growth in such a fast-paced world?

Tyme

Another fascinating entry is Tyme, which operates out of South Africa and finds itself in the Pioneers category alongside innovators like SpaceX and Equinor. Tyme surged into the spotlight when it achieved unicorn status in December 2024, raising a remarkable $250 million in a Series D funding round.

What sets Tyme apart is its commitment to meet underbanked populations where they are. This vision has fueled its significant growth across countries, allowing it to serve approximately 17.5 million retail customers in South Africa and the Philippines. It’s not just about banking; it’s about accessibility.

Rachel Freeman, Chief Growth Officer, shares a striking example: “You can walk into a grocery store in South Africa and open a bank account with us in under three minutes.” Can you imagine how such an easy access model could change lives? This raises an important question: how can technology continue to democratize access in a world still riddled with economic inequality?

The stories of Moniepoint, Flutterwave, and Tyme represent not just their individual successes but also a broader narrative of hope and innovation. As we examine these companies’ remarkable journeys, we are invited to reflect on the role of technology in shaping not just economies but lives. They remind us that with daring vision and unwavering commitment, we can transcend challenges and redefine what is possible.