Professional services firm Deloitte is relaunching a programme to recognise African technology businesses that have achieved the fastest rate of revenue growth over five years.

The Deloitte Technology Fast 50 Africa for 2014 forms part of an international programme run by the firm, and qualifying entrants will be put forward to the Technology Fast 500 in the broader Europe, Middle East and Africa region.

Deloitte says the ranking will list technology companies that demonstrate consistent growth. The competition is open to companies run and majority-owned by Africans. Entrants also need to have current operating revenues of at least US$500 000. Those entering must also be headquartered in Africa and have been operational for at least five years.

Also, entrants must develop or own the proprietary technology that contributes to a significant portion of their operating revenue. And they need to invest heavily in research and development.

Participants can be public or private companies and encompass all technology industry segments, including biotechnology, pharmaceuticals, telecommunications, green technology, software, electronics, and media and entertainment.

This year’s event is only the second time that this competition has been open to South African businesses. In 2012, Internet service provider Afrihost took home the honours.