BABAJIDE OKEOWO
Mouka Limited, Nigeria’s foremost indigenous mattress and foam products manufacturer, has become one among a few African companies to be recognised twice by the London Stock Exchange Group (LSEG), in the group’s Companies to Inspire Africa report.
The company was listed in the – LSEG’scompanies to Inspire Africa2019 report after it made the 2017 inaugural edition. Mouka was recognised alongside 360 companies from 32 countries across the continent represented in this year’s report, boasting an incredibly impressive average compound annual growth rate of 46 percent, up from 16 percent in 2017.
Companies to Inspire Africa is a pioneering report, compiled by the LSEG, identifying the continent’s most inspirational and dynamic private high growth companies to a global market.
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Companies to Inspire Africa 2019 was produced in partnership with African Development Bank Group, CDC Group, PWC and Asoko Insight who contributed their insight and expertise to select the featured companies, and the report is sponsored by Instinctif Partners and Stephenson Harwood.
To be included in the list, companies need to be privately held and shown excellent rate of growth and potential to power African development.
The double honours from LSEG have set the bedding industry giant apart from not just its competitors within its Nigerian operation base but among other companies on the continent that have only made one appearance in the Companies to Inspire Africa report since its inaugural edition.
After Mouka’s mention in the inaugural edition of the report, the company made remarkable progress by consolidating its previous achievement by earning the enviable recognition for a second time in 2019, by the world’s leading financial centre’s stock exchange group.
Established in 1959,Mouka Limited manufactures foam and spring mattresses, as well as other bedding products at its three production facilities across Nigeria. The company has also developed an extensive distribution network with more than 1,000 branded sales outlets and over 300 third-party distributors across the country.
“One of the biggest opportunities over the past year has been to use the challenging operating environment to demonstrate the strength of our operations, by ensuring product availability in a marketplace where our competitors are struggling to do the same. As a result, we have been able to gain market share,” explains Mouka’s Chief Executive Officer, Raymond Murphy.
