BHM becomes first PR firm on FT’s fastest growing companies in Africa list

BHM, a leading public relations, and reputation management consultancy, has just been acknowledged as one of Africa’s 100 fastest-growing companies by The Financial Times. The company is the first and only public relations and communications company on the list since it was introduced in 2022.

BHM debuted at number 87, joining some of Africa’s biggest companies such as MTN, Napsers, Julius Berger, and others in fintech, renewable energy, healthcare, commodities, and agriculture industries. Other top West African companies such as IT Consortium Ltd and Landtours Ghana Ltd made the list in 2022.

The companies on the list for 2023 were ordered by the highest compound annual growth (CAGR) in revenues between 2018 and 2021. An online application phase, a minimum CAGR of 7.89%, and a review process by Statista, a leading online platform specialized in market and consumer data, were some of the criteria for the entries on the list.

Financial Times commended the tenacity of the 100 companies on the list, stating, “The annual ranking of Africa’s Fastest Growing Companies provides a snapshot of the corporate landscape in a continent where technology, fintech, and support-service businesses have had to adapt to a radically altered environment,

“BHM has enjoyed tremendous support from clients and partners and from the public relations community in Africa, and abroad. And we are committed to building what I hope will become the first truly global communications services company from Africa,” said Ayeni Adekunle who founded the company in 2006 after having worked as a journalist with Nigerian publications Encomium, This Day and The Punch.

“BHM operates in Lagos Nigeria as well as in Edinburgh and London in the UK. Last year, through the ID Africa imprint, it expanded into Kenya and Ghana, with plans to open up other African countries later this year. A US operation is also to begin later in August,” he added.

“BHM is a case study of building a successful agency and professional services organization in the public relations market. The recognition by The Financial Times of BHM is another important metric of the growing maturity of public relations as a professional management discipline’’, says Stephen Waddington, a BHM director, and Managing Partner, Wadds Inc.

BHM employs roughly 100 people in Ghana, Kenya, Nigeria, and the UK, with a client roster that includes The Macallan, Heineken/NB PLC, Multichoice/DSTV, Showmax, MTN Nigeria Communications PLC, Honeywell Group, and Shoprite.

The list showed that while the company’s staff strength had expanded by 6.6% between 2018 and 2021, there is a considerable uptick of 48.1% in revenue within that same period, with an absolute growth rate of nearly 50%.

The agency’s work is underpinned by data and research. It published a report earlier in the month that focused on the impact of the cost-of-living crisis on the African diaspora living in the UK.

A report on the African PR industry is planned for publication later this year, which will share insights into professionals across Africa, including Ghana with inputs from key members of communications associations such as the Institute of Public Relations, Ghana (IPR) and Women in PR Ghana

Ayeni says ‘‘BHM plans to deliver what will be the first truly international communications services company from Africa; a truly global player with a commitment to the continent. And each passing day, each recognition, each project, each added country convinces me we are on track.’’

Since its inception in 2006, the company’s investments in its own communities have been a critical value drive. It created an annual World PR Day on 16 July 2021, to promote the value of public relations to management. Last year, the commemoration was recognized by 30 public relations associations and 10,000 practitioners in 60 countries.

BHM was also recognized as one of the top fastest-growing consultancies in EMEA_APAC by PRovoke Media and earned a total of 20 nominations and 2 wins in two years at the SABRE Awards.

The company via its Pan-African advisory and execution firm, ID Africa, announced its operations in Ghana in 2022, with its base in Accra.