Financial Times Names Local Radio Station An African Growth Leader

Lloyd Madurai, founder and managing director of Hot 102.7FM

The Johannesburg-based radio station Hot 102.7FM has been ranked among the continent’s top-performing businesses in the Financial Times’ Africa’s Fastest Growing Companies 2025 list, securing an impressive 22nd position among thousands of companies considered.

This year’s highly sought-after ranking, created in partnership with Statista and published in the Financial Times print edition and on FT.com on 14 May 2025, evaluated the compound annual growth rate (CAGR) of a carefully vetted collection of companies over the three-year period from 2020 to 2023.

Analysts from Statista sifted through thousands of submissions, accepting only independent, African-stationed businesses. To qualify, companies had to demonstrate exceptional performance in a difficult environment, growing organically from a minimum $100,000 turnover in 2020 to at least $1.5m by 2023.

Popular for its format of old school and R & B music, as well as its experienced line-up of renowned radio personalities, the station enjoyed a meteoric rise that saw it achieve profitability within its first year of operations in 2021. According to WhyFive’s BrandMapp, weekly listenership has soared from 316,000 listeners in 2023 to nearly 700,000 by early 2025. This explosive growth, particularly within affluent and high-income metropolitan districts, has attracted premium advertisers to the platform – a considerable contributor to its remarkable success.

“Hot 102.7FM has achieved an exceptional result in this year’s rankings,” says Harry Ewins, key account manager UK and International at Statista. “Ranked second in the Media and Telecommunications category and 22nd overall out of thousands of companies, the station stands out for its impressive growth and ongoing innovation, not just in South Africa, but across the continent.”

“Sustained growth like this is rare, especially from such a young company,” Ewins adds. “Hot 102.7FM has shown maturity, discipline and focus from day one – it's clearly one of Africa’s standout media success stories. We work with companies of all sizes, but it’s refreshing to see a brand thrive through smart operations, great content and real audience connection. This kind of achievement is rare, and well deserved.”

Hot 102.7FM recognised across the industry

The Financial Times nod is the second major recognition by external auditors in the past few weeks to highlight the station’s noteworthy performance. In April, News24 and Statista’s South Africa’s Growth Champions 2025 report placed Hot 102.7FM in the top five highest growth companies in the country, and first in the media segment.

“Where the Growth Champions report confirmed our leadership position among many well-known local competitors, the Financial Times list has proven that we can keep pace with Africa’s most inventive and exciting brands,” notes Lloyd Madurai, founder and managing director of Hot 102.7FM.

Other recent accolades for Hot 102.7FM include:

• Most Loyal Listeners award at the 2024 Telkom SA Radio Awards.
• Best Local Radio Station at the Best of Joburg Readers’ Choice Awards from 2022 to 2024.
• Three honours at the National Small Business Chamber Awards.
• Four category nominations at the 2024 New York Festivals Radio Awards.
• Woman in Media and overall Woman of Stature 2025 awarded to Head of News Tara Penny at the 2025 Woman of Stature Awards.

Being included in the Financial Times index places Hot 102.7FM among an elite group of African businesses that have turned disciplined operations and a strong brand into exceptional revenue growth, even in uncertain market conditions.

“We know our market and our programming is testament to the fact that good radio, when done right, can really cut through. The best part of it all though is we’re just getting started,” concludes Madurai.