The success of the most valuable companies in Africa is a reflection of the continent’s economic growth and development. With an abundance of natural resources and a diverse population, African economies have witnessed the emergence of several highly profitable companies across various sectors.
The process for reviewing the most valuable companies in Africa included using reliable sources, financial reports, market capitalisation, industry leaders, news and trends, social impact, and expert opinions.
Interestingly, all ten of the companies on this list are South African companies. South Africa’s economic atmosphere is advantageous, making it one of the eight upper-middle-income economies in Africa, the second-largest economy in Africa behind Nigeria, and the most industrialised and technologically advanced country on the continent.
This article highlights the annual list of Africa’s top 250 publicly traded companies published by African Business magazine and also discusses the top 10 most valuable companies.
Current Ranking | Previous Ranking | Name | Sector | Country | Previous MarketValue $m) | Current Market Value($m) | Current Revenue ($m) | CurrentNet Income ($m) |
1 | 1 | Naspers | Consumer Non-Cyclicals | South Africa | 49,619 | 80,865 | 7,940 | 12 |
2 | 3 | FirstRand | Finance | South Africa | 29,739 | 19,090 | 6,178 | 2 |
3 | 5 | Standard Bank Group | Finance | South Africa | 20,915 | 16,347 | 7,183 | 2 |
4 | 6 | Vodacom Group | Telecommunications | South Africa | 20,102 | 14,292 | 6,334 | 1 |
5 | 2 | Anglo American Platinum | Non-Energy Materials | South Africa | 36,429 | 14,265 | 9,056 | 3 |
6 | 4 | MTN Group | Telecommunications | South Africa | 24,500 | 13,537 | 11,381 | 1 |
7 | 10 | Gold Fields | Non-Energy Materials | South Africa | 13,909 | 11,936 | 4,287 | 711 |
8 | 7 | Capitec Bank Holdings | Finance | South Africa | 18,604 | 11,044 | 1,861 | 587 |
9 | 18 | MTN Nigeria | Telecommunications | Nigeria | 10,471 | 10,602 | 4,370 | 779 |
10 | 20 | AngloGold Ashanti | Non-Energy Materials | South Africa | 10,032 | 10,196 | 4,501 | 297 |
11 | 15 | Dangote Cement | Non-Energy Materials | Nigeria | 11,203 | 9,986 | 3,512 | 830 |
12 | 16 | Absa Group | Finance | South Africa | 11,048 | 8,686 | 5,438 | 1 |
13 | 8 | Sasol | Non-Energy Materials | South Africa | 15,354 | 8,638 | 17,920 | 2 |
14 | 19 | Attijariwafa Bank | Finance | Morocco | 10,250 | 8,335 | 2,528 | 582 |
15 | 9 | Kumba Iron Ore | Non-Energy Materials | South Africa | 14,446 | 8,163 | 4,058 | 988 |
16 | 11 | Impala Platinum Holdings | Non-Energy Materials | South Africa | 13,062 | 7,874 | 6,842 | 2 |
17 | 24 | Bid Corp | Consumer Services | |||||
18 | 21 | Shoprite Holdings | Consumer Non-Cyclicals | South Africa | 9,577 | 7,408 | 10,658 | 331 |
19 | 13 | Maroc Telecom | Telecommunications | Morocco | 11,782 | 7,307 | 3,454 | 266 |
20 | 31 | BUA Cement | Non-Energy Materials | Nigeria | 5,759 | 7,192 | 620 | 217 |
21 | 17 | Sanlam | Finance | South Africa | 11,003 | 7,075 | 5,257 | 584 |
22 | 23 | Nedbank Group | Finance | South Africa | 8,153 | 6,252 | 3,496 | 785 |
23 | 14 | Sibanye Stillwater | Non-Energy Materials | South Africa | 11,581 | 5,844 | 7,534 | 1 |
24 | 26 | Investec | Finance | South Africa | 6,716 | 5,503 | n/a | n/a |
25 | 12 | Safaricom | Telecommunications | Kenya | 11,898 | 5,473 | 2,567 | 581 |
26 | 22 | Discovery | Finance | South Africa | 8,393 | 5,333 | 3,390 | 316 |
27 | 37 | Commercial International Bank | Finance | Egypt | 5,009 | 4,967 | 1,078 | 528 |
28 | 25 | Airtel Africa | Telecommunications | Nigeria | 6,903 | 4,949 | 3,820 | 511 |
29 | 35 | Bidvest Group | Consumer Cyclicals | South Africa | 5,209 | 4,860 | 5,813 | 311 |
30 | 27 | Aspen Pharmacare Holdings | Healthcare | South Africa | 6,186 | 4,607 | 2,265 | 381 |
31 | 32 | Banque Centrale Populaire | Finance | Morocco | 5,622 | 4,513 | 1,986 | 235 |
32 | 30 | Remgro | Finance | South Africa | 5,826 | 4,306 | 4,238 | 362 |
33 | 38 | B2gold Corp | Non-Energy Materials | Namibia | 4,856 | 4,240 | 2,347 | 388 |
34 | 59 | BUA Foods | Consumer Non-Cyclicals | Nigeria | 2,575 | 3,985 | n/a | n/a |
35 | 34 | Exxaro Resources | Energy | South Africa | 5,296 | 3,673 | 2,526 | 756 |
36 | 43 | Woolworths Holdings | Consumer Non-Cyclicals | South Africa | 4,160 | 3,640 | 4,698 | 218 |
37 | 29 | Pepkor | Consumer Cyclicals | South Africa | 5,886 | 3,568 | 4,715 | 354 |
38 | 36 | Clicks Group | Consumer Non-Cyclicals | South Africa | 5,160 | 3,536 | 2,180 | 126 |
39 | 46 | Afreximbank (DRs) | Finance | Mauritius | 4,038 | 3,510 | n/a | n/a |
40 | 42 | Bank of Africa (formerly BMCE) | Finance | Morocco | 4,238 | 3,318 | 1,520 | 225 |
41 | 40 | Old Mutual | Finance | South Africa | 4,437 | 3,268 | 4,711 | 403 |
42 | 28 | Northam Platinum | Non-Energy Materials | South Africa | 5,919 | 3,236 | 2,029 | 586 |
43 | 39 | LafargeHolcim Maroc | Non-Energy Materials | Morocco | 4,623 | 3,167 | n/a | n/a |
44 | 44 | Multichoice | Telecommunications | South Africa | 3,989 | 3,077 | 3,552 | 65 |
45 | 33 | OUTsurance Group (formerly Rand Merchant Investment) | Finance | South Africa | 5,471 | 3,016 | n/a | 149 |
46 | 41 | African Rainbow Minerals | Non-Energy Materials | South Africa | 4,400 | 2,921 | 984 | 723 |
47 | 53 | African Rainbow Capital Investments | Finance | South Africa | 2,977 | 2,758 | n/a | n/a |
48 | 55 | Sonatel | Telecommunications | Côte d’Ivoire | 2,680 | 2,617 | 2,328 | 444 |
49 | 51 | Harmony Gold Mining | Non-Energy Materials | South Africa | 3,117 | 2,549 | 2,514 | 62 |
50 | 48 | Growthpoint Properties | Finance | South Africa | 3,456 | 2,525 | 422 | 299 |
51 | 71 | Managem | Non-Energy Materials | Morocco | 2,040 | 2,462 | 938 | 157 |
52 | 63 | Vivo Energy | Consumer Cyclicals | South Africa | 2,279 | 2,455 | n/a | n/a |
53 | NEW | Orange Côte d’Ivoire | Telecommunications | Côte d’Ivoire | NEW | 2,371 | n/a | n/a |
54 | 50 | Royal Bafokeng Platinum | Non-Energy Materials | South Africa | 3,194 | 2,346 | 858 | 179 |
55 | 57 | Distell Group | Consumer Non-Cyclicals | South Africa | 2,641 | 2,266 | 1,939 | 130 |
56 | 58 | TAQA Morocco | Utilities | Morocco | 2,614 | 2,215 | 1,323 | 127 |
57 | 45 | Mr Price Group | Consumer Non-Cyclicals | South Africa | 3,906 | 2,142 | 1,629 | 202 |
58 | 52 | Ninety-One (previously part of Investec) | Finance | South Africa | 3,095 | 2,108 | n/a | 257 |
59 | 70 | Tiger Brands | Consumer Non-Cyclicals | South Africa | 2,066 | 2,038 | 1,942 | 161 |
60 | 56 | Nestle Nigeria | Consumer Non-Cyclicals | Nigeria | 2,658 | 1,859 | 970 | 106 |
61 | 64 | Santam | Finance | South Africa | 2,277 | 1,849 | 1,498 | 110 |
62 | 78 | Abou Kir Fertilizers & Chemicals | Non-Energy Materials | Egypt | 1,717 | 1,795 | 852 | 434 |
63 | 81 | Zenith Bank | Finance | Nigeria | 1,691 | 1,761 | 2,052 | 486 |
64 | NEW | Geregu Power | Energy | Nigeria | NEW | 1,753 | 115 | 25 |
65 | 49 | The Foschini Group | Consumer Cyclicals | South Africa | 3,339 | 1,697 | 2,742 | 184 |
66 | 54 | Ciments du Maroc | Non-Energy Materials | Morocco | 2,766 | 1,680 | n/a | n/a |
67 | 77 | MCB Group | Finance | Mauritius | 1,723 | 1,664 | 526 | 213 |
68 | 88 | Guaranty Trust Holding Company | Finance | Nigeria | 1,585 | 1,629 | 974 | 396 |
69 | 79 | Thungela Resources | Energy | South Africa | 1,715 | 1,601 | 2,773 | 995 |
70 | 62 | Life Healthcare | Healthcare | South Africa | 2,340 | 1,595 | 1,619 | 88 |
71 | 61 | CONSUMER | Consumer Non-Cyclicals | Morocco | 2,378 | 1,589 | 1,034 | 81 |
72 | 72 | Marsa Maroc | Industrials | Morocco | 2,014 | 1,536 | 381 | n/a |
73 | 66 | Spar Group | Consumer Non-Cyclicals | South Africa | 2,237 | 1,529 | 7,877 | 129 |
74 | 67 | Sappi | Non-Energy Materials | South Africa | 2,208 | 1,477 | 7,296 | 536 |
75 | 96 | Egypt Kuwait Holding | Finance | Egypt | 1,433 | 1,456 | 1,053 | 241 |
76 | 74 | Momentum Metropolitan | Finance | South Africa | 1,774 | 1,443 | 0 | 210 |
77 | 98 | Tanzania Breweries | Consumer Non-Cyclicals | Tanzania | 1,386 | 1,374 | n/a | n/a |
78 | 85 | Telecom Egypt | Telecommunications | Egypt | 1,633 | 1,369 | 1,436 | 298 |
79 | 83 | AVI | Consumer Non-Cyclicals | South Africa | 1,658 | 1,332 | 806 | 102 |
80 | 76 | Scancom (MTN Ghana) | Telecommunications | Ghana | 1,726 | 1,330 | 772 | 222 |
81 | 80 | Afriquia Gaz | Energy | Morocco | 1,709 | 1,311 | n/a | n/a |
82 | 93 | Eastern Company | Consumer Non-Cyclicals | Egypt | 1,478 | 1,307 | 887 | 187 |
83 | 84 | Equity Group Holdings | Finance | Kenya | 1,657 | 1,296 | 758 | 366 |
84 | 75 | Wafa Assurance | Finance | Morocco | 1,740 | 1,284 | n/a | n/a |
85 | 65 | Dis-Chem Pharmacies | Consumer Non-Cyclicals | South Africa | 2,244 | 1,257 | 1,903 | 53 |
86 | 97 | Label Vie | Consumer Non-Cyclicals | Morocco | 1,432 | 1,231 | 1,339 | 57 |
87 | 82 | Truworths International | Consumer Cyclicals | South Africa | 1,679 | 1,228 | 1,039 | 172 |
88 | 69 | Qatar National Bank AlAhli | Finance | Egypt | 2,122 | 1,203 | 855 | 332 |
89 | 87 | Netcare | Healthcare | South Africa | 1,586 | 1,201 | 1,249 | 63 |
90 | 101 | Misr Fertilizers Production | Non-Energy Materials | Egypt | 1,252 | 1,183 | 585 | 228 |
91 | 73 | Pick N Pay Stores | Consumer Non-Cyclicals | South Africa | 1,815 | 1,176 | 6,134 | 82 |
92 | 68 | Delta Corporation | Consumer Non-Cyclicals | Zimbabwe | 2,206 | 1,165 | 499 | 113 |
93 | 89 | Total Maroc | Consumer Cyclicals | Morocco | 1,568 | 1,139 | 1,862 | 52 |
94 | 134 | Banque Internationale Arabe de Tunisie (BIAT) | Finance | Tunisia | 787 | 1,083 | 433 | 120 |
95 | 95 | Société de Fabrication des Boissons de Tunisie (SFBT) | Consumer Non-Cyclicals | Tunisia | 1,441 | 1,069 | 420 | 89 |
96 | 109 | Stanbic IBTC Holdings | Finance | Nigeria | 1,064 | 1,057 | 584 | 170 |
97 | 114 | El Sewedy Electric | Industrials | Egypt | 987 | 1,057 | 3,009 | 177 |
98 | 91 | e-finance for Digital and Financial Investments SAE. | Finance | Egypt | 1,550 | 1,035 | n/a | n/a |
99 | 47 | Econet Wireless | Telecommunications | Zimbabwe | 3,479 | 1,031 | 259 | 61 |
100 | 90 | Telkom | Telecommunications | South Africa | 1,556 | 1,029 | 2,660 | 164 |
101 | 110 | East African Breweries | Consumer Non-Cyclicals | Kenya | 1,031 | 1,015 | 921 | 100 |
102 | 105 | MTN Uganda | Telecommunications | Uganda | 1,124 | 1,008 | 617 | 110 |
103 | 99 | Motus Holdings | Consumer Cyclicals | South Africa | 1,343 | 974 | 5,396 | 193 |
104 | 144 | Hosken Consolidated Investments | Consumer Services | South Africa | 691 | 969 | n/a | n/a |
105 | 86 | Barloworld | Industrials | South Africa | 1,596 | 955 | 2,274 | 123 |
106 | 112 | Credit Immobilier et Hotelier | Finance | Morocco | 1,009 | 934 | 338 | 64 |
107 | 92 | Italtile | Consumer Cyclicals | South Africa | 1,508 | 925 | 536 | 110 |
108 | 124 | Alexandria Containers & Goods | Industrials | Egypt | 848 | 924 | 148 | 106 |
109 | 119 | Lafarge Africa | Non-Energy Materials | Nigeria | 918 | 909 | 810 | 116 |
110 | 104 | PSG Konsult | Finance | South Africa | 1,194 | 882 | n/a | n/a |
111 | 94 | PSG Group | Finance | South Africa | 1,464 | 871 | 316 | 51 |
112 | 108 | FBN Holdings | Finance | Nigeria | 1,070 | 865 | 1,166 | 249 |
113 | 106 | Sothema | Healthcare | Morocco | 1,115 | 864 | n/a | n/a |
114 | 127 | Golden Pyramids Plaza | Finance | Egypt | 833 | 863 | n/a | n/a |
115 | 102 | KCB Group | Finance | Kenya | 1,231 | 861 | 693 | 411 |
116 | 131 | DRDGOLD | Non-Energy Materials | South Africa | 817 | 831 | 302 | 66 |
117 | 135 | Nigerian Breweries | Consumer Non-Cyclicals | Nigeria | 785 | 825 | 1,182 | 36 |
118 | 164 | Airtel Malawi | Telecommunications | Malawi | 566 | 807 | n/a | n/a |
119 | 167 | National Bank of Malawi | Finance | Malawi | 542 | 806 | n/a | n/a |
120 | 113 | MAS PLC. | Finance | South Africa | 1,001 | 787 | 46 | 18 |
121 | 118 | Karooooo (previously Cartrack) | Technology | South Africa | 918 | 777 | n/a | n/a |
122 | 158 | NMB Bank | Finance | Tanzania | 582 | 748 | n/a | n/a |
123 | 139 | Vodacom Tanzania | Telecommunications | Tanzania | 743 | 737 | n/a | n/a |
124 | 133 | Atlanta | Finance | Morocco | 788 | 728 | n/a | n/a |
125 | 140 | Tanzania Cigarette Co. | Consumer Non-Cyclicals | Tanzania | 733 | 726 | n/a | n/a |
126 | 122 | Tsogo Sun | Consumer Services | South Africa | 865 | 717 | n/a | n/a |
127 | 146 | Société Gén´´rale de Banques en Côte d’Ivoire | Finance | Côte d’Ivoire | 686 | 714 | n/a | n/a |
128 | 128 | Access Holdings | Finance | Nigeria | 833 | 694 | 1,575 | 388 |
129 | 160 | First National Bank Botswana | Finance | BOTSWANA | 577 | 690 | n/a | n/a |
130 | 141 | Crédit du Maroc | Finance | Morocco | 702 | 676 | 249 | 48 |
131 | 147 | Crytel Mauritius | Industrials | Mauritius | 683 | 671 | n/a | n/a |
132 | 181 | Lesieur Cristal | Consumer Non-Cyclicals | Morocco | 490 | 671 | 666 | 36 |
133 | 129 | IBL | Finance | Mauritius | 831 | 662 | n/a | n/a |
134 | 138 | Super Group | Industrials | South Africa | 747 | 636 | 2,726 | 81 |
135 | 168 | Sun International | Consumer Services | South Africa | 541 | 635 | 621 | 42 |
136 | 116 | EFG Hermes | Finance | Egypt | 942 | 635 | 355 | 60 |
137 | 163 | Reunert | Industrials | South Africa | 569 | 630 | 650 | 49 |
138 | 130 | Société des Brasseries du Maroc | Consumer Non-Cyclicals | Morocco | 821 | 628 | 288 | 40 |
139 | 175 | Faisal Islamic Bank of Egypt | Finance | Egypt | 518 | 623 | n/a | n/a |
140 | 152 | United Bank for Africa | Finance | Nigeria | 633 | 620 | 875 | 370 |
141 | 201 | Ezz Steel | Non-Energy Materials | Egypt | 428 | 614 | 2,718 | 215 |
142 | 136 | RCL Foods | Consumer Non-Cyclicals | South Africa | 767 | 602 | 2,031 | 60 |
143 | 132 | Banque Marocaine pour le Commerce et l’Industrie | Finance | Morocco | 812 | 597 | 299 | 19 |
144 | 107 | Coronation Fund Managers | Finance | South Africa | 1,110 | 596 | n/a | n/a |
145 | 150 | Co-operative Bank of Kenya | Finance | Kenya | 656 | 582 | 356 | 164 |
146 | 115 | Talaat Moustafa Group | Finance | Egypt | 954 | 581 | 649 | 74 |
147 | 117 | Fawry For Banking Technology And Electronic Payment | Finance | Egypt | 926 | 569 | 74 | 9 |
148 | 111 | Tullow Oil | Energy | Ghana | 1,016 | 564 | n/a | n/a |
149 | 148 | ADvTECH | Consumer Non-Cyclicals | South Africa | 680 | 560 | 383 | 44 |
150 | 126 | AECI | Non-Energy Materials | South Africa | 841 | 558 | 1,959 | 75 |
151 | 169 | FirstRand Namibia | Finance | Namibia | 540 | 558 | n/a | 68 |
152 | 60 | Transaction Capital | Finance | South Africa | 2,440 | 545 | n/a | 97 |
153 | 121 | Omnia Holdings | Non-Energy Materials | South Africa | 870 | 535 | 1,337 | 84 |
154 | 197 | CRDB Bank | Finance | Tanzania | 433 | 530 | n/a | n/a |
155 | 103 | Innscor Africa* | Consumer Non-Cyclicals | Zimbabwe | 1,230 | 228 | 400 | 34 |
156 | 157 | Absa Bank Kenya | Finance | Kenya | 588 | 525 | 246 | 104 |
157 | NEW | Illovo Sugar (Malawi) | Consumer Non-Cyclicals | Malawi | 267 | 523 | n/a | n/a |
158 | 177 | Oceana Group | Consumer Non-Cyclicals | South Africa | 509 | 510 | 478 | 43 |
159 | 243 | Sidi Kerir Petrochemicals | Non-Energy Materials | Egypt | 300 | 506 | 283 | 40 |
160 | 207 | Standard Bank Malawi | Finance | Malawi | 402 | 505 | n/a | n/a |
161 | 195 | Banque Attijari de Tunisie | Finance | Tunisia | 434 | 505 | 212 | 60 |
162 | 153 | Adcock Ingram Holdings | Healthcare | South Africa | 630 | 490 | 519 | 48 |
163 | 178 | Aluminium Company of Egypt | Non-Energy Materials | Egypt | 500 | 485 | 754 | 88 |
164 | 182 | Standard Chartered Bank Kenya | Finance | Kenya | 472 | 485 | 165 | 80 |
165 | 149 | JSE | Finance | South Africa | 664 | 480 | n/a | n/a |
166 | 156 | Datatec | Technology | South Africa | 604 | 479 | 4,637 | 34 |
167 | 166 | Coris Bank | Finance | Côte d’Ivoire | 543 | 469 | n/a | n/a |
168 | NEW | Global Telecom Holding (previously Orascom Telecom) | Telecommunications | Egypt | 783 | 464 | n/a | n/a |
169 | 155 | Poulina Group Holding | Consumer Non-Cyclicals | Tunisia | 616 | 460 | 1,069 | 39 |
170 | 159 | El Ezz Aldekhela Steel | Non-Energy Materials | Egypt | 578 | 458 | n/a | n/a |
171 | 174 | Aradei Capital | Finance | Morocco | 520 | 457 | n/a | n/a |
172 | 212 | NCBA Group | Finance | Kenya | 370 | 456 | n/a | n/a |
173 | 172 | Ecobank Transnational, Inc. | Finance | Côte d’Ivoire | 472 | 451 | n/a | n/a |
174 | 185 | Dangote Sugar Refinery | Consumer Non-Cyclicals | Nigeria | 467 | 448 | 823 | 66 |
175 | 193 | Hightech Payment Systems | Finance | Morocco | 445 | 447 | 97 | 11 |
176 | 125 | KAP Industrial Holdings | Non-Energy Materials | South Africa | 847 | 444 | 1,652 | 103 |
177 | 143 | Afrimat | Non-Energy Materials | South Africa | 696 | 444 | 295 | 49 |
178 | 187 | Banque de Tunisie | Finance | Tunisia | 462 | 443 | 135 | 50 |
179 | 200 | Union Bank Nigeria | Finance | Nigeria | 431 | 442 | n/a | n/a |
180 | NEW | Premier Group | Finance | South Africa | NEW | 436 | n/a | n/a |
181 | 142 | Emaar Misr for Development | Finance | Egypt | 699 | 415 | n/a | n/a |
182 | 198 | Botswana Insurance | Finance | BOTSWANA | 433 | 407 | n/a | n/a |
183 | 179 | Capricorn Group | Finance | Namibia | 497 | 405 | n/a | 69 |
184 | NEW | FMB Capital Holdings | Finance | Malawi | 241 | 401 | n/a | n/a |
185 | 213 | Société Ivoirienne de Banque | Finance | Côte d’Ivoire | 370 | 398 | n/a | n/a |
186 | 236 | Copperbelt Energy Corporation | Utilities | Zambia | 310 | 390 | n/a | n/a |
187 | 203 | Heliopolis Housing | Finance | Egypt | 426 | 386 | 85 | 34 |
188 | 173 | Travaux Généraux de Construction de Casablanca | Industrials | Morocco | 522 | 384 | n/a | n/a |
189 | 192 | Astral Foods | Consumer Non-Cyclicals | South Africa | 446 | 382 | 1,116 | 61 |
190 | 202 | Alexander Forbes | Finance | South Africa | 428 | 382 | n/a | n/a |
191 | 154 | Saham Assurance | Finance | Morocco | 618 | 380 | 609 | 32 |
192 | 219 | Okomu Oil Palm Co. | Consumer Non-Cyclicals | Nigeria | 343 | 380 | 134 | 48 |
193 | NEW | Alexandria Mineral Oils Co. | Energy | Egypt | 277 | 379 | 974 | 61 |
194 | 161 | Tharisa | Non-Energy Materials | South Africa | 577 | 375 | 686 | 167 |
195 | 151 | Namibia Breweries | Consumer Non-Cyclicals | Namibia | 636 | 372 | 166 | 26 |
196 | 162 | Onatel | Telecommunications | Côte d’Ivoire | 574 | 372 | n/a | n/a |
197 | 196 | Famous Brands | Consumer Services | South Africa | 433 | 370 | n/a | n/a |
198 | 218 | Absa Bank Botswana | Finance | Botswana | 350 | 366 | n/a | n/a |
199 | 230 | Grindrod | Industrials | South Africa | 323 | 359 | n/a | n/a |
200 | 221 | Tsogo Sun Hotels | Consumer Services | South Africa | 342 | 358 | n/a | n/a |
201 | 226 | Wilson Bayly Holmes | Industrials | South Africa | 332 | 357 | 1,015 | 40 |
202 | NEW | Akdital | Healthcare | Morocco | NEW | 356 | n/a | n/a |
203 | 199 | British American Tobacco Kenya | Consumer Non-Cyclicals | Kenya | 432 | 350 | 217 | n/a |
204 | 176 | Crédit Agricole Egypt | Finance | Egypt | 509 | 345 | 166 | 77 |
205 | 247 | Edita Food Industries | Consumer Non-Cyclicals | Egypt | 297 | 341 | 250 | 31 |
206 | NEW | Fidelity Bank | Finance | Nigeria | 223 | 336 | 668 | 91 |
207 | 211 | Juhayna Food Industries | Consumer Non-Cyclicals | Egypt | 374 | 335 | 369 | 21 |
208 | 184 | Auto Hall | Consumer Cyclicals | Morocco | 469 | 334 | n/a | n/a |
209 | 210 | Guinness Nigeria | Consumer Non-Cyclicals | Nigeria | 375 | 333 | 486 | 37 |
210 | 216 | Stanbic | Finance | Kenya | 354 | 328 | 131 | 73 |
211 | 231 | Presco PLC | Consumer Non-Cyclicals | Nigeria | 320 | 327 | 162 | 46 |
212 | 165 | National Bank of Kuwait – Egypt | Finance | Egypt | 548 | 325 | n/a | n/a |
213 | 220 | Housing & Development Bank | Finance | Egypt | 343 | 316 | n/a | n/a |
214 | 188 | Oragroup | Finance | Côte d’Ivoire | 459 | 316 | n/a | n/a |
215 | 222 | SBM Holdings | Finance | Mauritius | 337 | 313 | n/a | n/a |
216 | 232 | Tanzania Portland Cement | Non-Energy Materials | Tanzania | 318 | 311 | n/a | n/a |
217 | 204 | Mobile Telecommunications | Telecommunications | Namibia | 411 | 299 | 170 | 47 |
218 | 245 | Arindo Holdings (Mauritius) | Industrials | Mauritius | 299 | 299 | n/a | n/a |
219 | NEW | Abu Dhabi Islamic Bank – Egypt | Finance | Egypt | 152 | 299 | 198 | 73 |
220 | 229 | Oriental Weavers | Consumer Non-Cyclicals | Egypt | 324 | 299 | 429 | 27 |
221 | 233 | Compagnie Minière de Touissit | Non-Energy Materials | Morocco | 314 | 293 | n/a | n/a |
222 | NEW | Orascom Development Egypt | Construction | Egypt | 260 | 289 | 337 | 65 |
223 | NEW | Amen Bank | Finance | Tunisia | 207 | 285 | 156 | 43 |
224 | 215 | Stanbic Bank Uganda | Finance | Uganda | 357 | 285 | 295 | 82 |
225 | 227 | Hudaco Industries | Industrials | South Africa | 332 | 282 | 468 | 34 |
226 | 246 | Deep Yellow Limited | Energy | Namibia | 298 | 282 | n/a | n/a |
227 | NEW | Palmci | Consumer Non-Cyclicals | Côte d’Ivoire | 244 | 281 | n/a | n/a |
228 | 205 | Metair Investments | Industrials | South Africa | 409 | 280 | n/a | n/a |
229 | 237 | Zambia Sugar | Consumer Non-Cyclicals | Zambia | 308 | 269 | n/a | n/a |
230 | 186 | Curro Holdings | Consumer Non-Cyclicals | South Africa | 467 | 266 | 229 | 13 |
231 | NEW | FDH Bank | Finance | Malawi | 131 | 263 | n/a | n/a |
232 | NEW | International Breweries | Consumer Non-Cyclicals | Nigeria | 284 | 262 | 469 | 14 |
233 | 242 | I&M Holdings | Finance | Kenya | 301 | 260 | 173 | 84 |
234 | 180 | Raubex Group | Industrials | South Africa | 491 | 257 | 714 | 35 |
235 | NEW | Société d’Articles Hygiéniques | Consumer Non-Cyclicals | Tunisia | 221 | 257 | 255 | 10 |
236 | NEW | Press Corporation | Telecommunications | Malawi | 280 | 256 | n/a | n/a |
237 | 238 | Les Eaux Minerales d’Oulmes | Consumer Non-Cyclicals | Morocco | 307 | 256 | 207 | 13 |
238 | NEW | Egyptian Chemical Industries | Non-Energy Materials | Egypt | 241 | 256 | 231 | 34 |
239 | 190 | PPC | Non-Energy Materials | South Africa | 455 | 256 | 624 | 5 |
240 | NEW | Gemfields Group | Non-Energy Materials | South Africa | 281 | 256 | 341 | 57 |
241 | NEW | Nestlé Côte d’Ivoire SA | Consumer Non-Cyclicals | Côte d’Ivoire | 253 | 252 | n/a | n/a |
242 | 183 | Cashbuild | Consumer Cyclicals | South Africa | 471 | 251 | 654 | 28 |
243 | NEW | Flour Mills Nigeria | Consumer Non-Cyclicals | Nigeria | 277 | 250 | 2,804 | 62 |
244 | 224 | Mpact | Non-Energy Materials | South Africa | 335 | 249 | 668 | 39 |
245 | NEW | SBN Holdings | Finance | Namibia | 179 | 249 | n/a | 30 |
246 | NEW | Union Internationale de Banques | Finance | Tunisia | 159 | 243 | 153 | 33 |
247 | 217 | CFAO Motors Côte d’Ivoire | Consumer Cyclicals | Côte d’Ivoire | 354 | 242 | n/a | n/a |
248 | 137 | Arcelormittal South Africa | Non-Energy Materials | South Africa | 759 | 241 | 2,302 | 149 |
249 | NEW | CIEL | Consumer Cyclicals | Mauritius | 262 | 230 | n/a | n/a |
250 | 194 | Cleopatra Hospital | Healthcare | Egypt | 438 | 229 | 85 | 11 |
217 | 204 | Mobile Telecommunications | Telecommunications | Namibia | 411 | 299 | 170 | 47 |
218 | 245 | Arindo Holdings (Mauritius) | Industrials | Mauritius | 299 | 299 | n/a | n/a |
219 | NEW | Abu Dhabi Islamic Bank – Egypt | Finance | Egypt | 152 | 299 | 198 | 73 |
220 | 229 | Oriental Weavers | Consumer Non-Cyclicals | Egypt | 324 | 299 | 429 | 27 |
221 | 233 | Compagnie Minière de Touissit | Non-Energy Materials | Morocco | 314 | 293 | n/a | n/a |
222 | NEW | Orascom Development Egypt | Construction | Egypt | 260 | 289 | 337 | 65 |
Nasper
Year founded: 1999
Founder: Sean Parker and Shawn Fanning
Sector: Technology
Location: Cape town, South Africa
World ranking: 489
Market Value: $80,865, 000,000 billion
Naspers Ltd. operates through several business segments, including E-commerce, Social and Internet platforms, Media, and Corporate. It has a portfolio of companies that includes some of the world’s leading consumer internet businesses, such as Tencent, Prosus, Takealot, and PayU.
One of Naspers’ most notable successes is its investment in Tencent, which has grown into the world’s largest gaming company. The company’s investment in Prosus has also been highly successful, investing in some of the world’s leading internet platforms, such as Delivery Hero, Mail.ru, and OLX. Naspers’ investments in African startups and technology companies have also been significant, with the company playing a crucial role in developing the continent’s technology ecosystem.
FirstRand
Year founded: 1998
Founder: Gerrit Ferreira, Lauritz Dippenaar, Paul Kenneth Harris
Sector: Finance
Location: Johannesburg, South Africa
World ranking: 800
Market Value: $19,090,000,000 billion
FirstRand Group is a retail and commercial bank, offering customers services like asset management, insurance, and investments. The bank operates in its home market of South Africa, as well as in sub-Saharan Africa, India, and the UK. It has branches in London, Guernsey, and India.
It is owned by FirstRand Bank, which was founded in 1838 in South Africa. FirstRand Bank was an investment bank that became a holding company in 1998. The company is headquartered in Johannesburg, South Africa, and it is the largest financial institution in Africa. The Reserve Bank of South Africa has licensed FirstRand Bank as a financial service provider.
Anglo American Platinum
Year founded: 1995
Founder: Ernest Oppenheimer
Sector: Consumer Non-Cyclicals
Location: Johannesburg, South Africa
World ranking: 739
Market Value: $14,265,000,000 billion
Anglo-American Platinum Corporation is the world’s largest producer of natural platinum, accounting for nearly 38% of the world’s platinum supply. It was incorporated in 1946,
The company’s headquarters in South Africa mainly operates in the Johannesburg-based Bushveld Igneous Complex. This location offers a fertile environment for platinum and other elements such as chromium, vanadium, titaniferous magnetite, and other metals that fall under the category of platinum group metals.
Anglo American Platinum Corporation’s has made significant investments in research and development to improve the efficiency and sustainability of its operations. It has also implemented various sustainability initiatives to reduce its environmental impact and improve the quality of life for the communities in which it operates. In addition, the company is committed to promoting economic development in Africa through its local procurement policies, prioritising local suppliers and contractors. With a turnover of R74.58 billion in 2018 and a workforce of 24,790 employees, Anglo American Platinum Corporation is poised to continue its growth trajectory and remain a valuable company in Africa’s mining industry for years to come.
Standard Bank Group
Year founded: 1862
Founder: 1862
Sector: Finance
Location: Johannesburg, South Africa
World ranking: 976
Market Value: $16,347,000,000 billion
Standard Bank Group Limited is a big financial services company that is one of the biggest lenders by assets in Africa and is listed on two stock exchanges, the London Stock Exchange and the Johannesburg Stock Exchange. It started in 1862, and its main office is in Johannesburg, South Africa.
The company has a lot of customers in its home market and 20 other African countries and offers many different financial services to them. It also runs its operations to help the business grow. As of 2016, Standard Bank Group has over 54,000 employees.
Vodacom
Year founded: 1993
Founder: John Paterson
Sector: Telecommunications
Location: Johannesburg, South Africa
World ranking: 1299
Market Value: $14,292,000,000
Vodacom is a telecommunications company based in South Africa that caters to over 55 million customers by offering voice, messaging, data, and converged services. Over the years, Vodacom has expanded its operations beyond South Africa, and it now has networks in Tanzania, Mozambique, the Democratic Republic of the Congo, and Lesotho. Additionally, Vodacom provides business services to customers in 32 African countries, including Nigeria, Zambia, Angola, Kenya, Ghana, Côte d’Ivoire, and Cameroon.
The company is partly owned by another big African telecommunication company called Telkom, and the other part is owned by a company called Vodafone. In 2018, Vodacom South Africa made about R 87.08 billion in revenue.
MTN Group
Year founded: 1994
Founder: Ferdinand Moolman
Sector: Telecommunications
Location: Roodepoort, South Africa
World ranking: 1,167
Market Value: $13,537,000,000 billion
MTN Group Limited is a telecommunications company that operates in 20 countries in Africa and the Middle East. It has over 280 million subscribers, making it the largest telecom company in Africa and the eighth-largest globally. The company’s headquarters is located in Johannesburg, and it has a significant presence in Nigeria, where it has about 35% market share and generates more than one-third of its revenue.
The company was founded in 1994 and sponsors several major sports teams, including the South African national rugby union team and Manchester United FC. It has subsidiaries like Vistafone and SuperSonic, and as of 2020, it employs over 19,000 people.
Gold Fields
Year founded: 1998
Founder: Cecil Rhodes
Sector: Non-Energy Materials
Location: Johannesburg, South Africa
World ranking: 1619
Market Value: $11,936,000,000 billion
Gold Fields Limited is a company that mines gold and is based in Johannesburg, South Africa. The company is listed on two stock exchanges – the Johannesburg Stock Exchange and the New York Stock Exchange.
The company was created in 1998 when two smaller companies that mined gold joined together. As of now, Gold Fields Limited is the eighth-largest gold producer in the world.
Gold Fields Limited has had some problems in the past where their mining operations caused damage to the environment. There were significant incidents in 2001, 2003, and 2012 where contaminated water from the mines spilt out and caused harm. Despite this, the company tried to improve its environmental practices and reduce its impact. It is important for mining companies to be careful about the environment so they can keep operating in the long term.
Capitec Bank Holdings
Year founded: 2001
Founder: Jannie Mouton Michiel Le Roux Riaan Stassen
Sector: Finance
Location: Johannesburg, South Africa
World ranking: 1,236
Market Value: $11,044,000,000 billion
Capitec Bank is a retail bank located in South Africa. This was measured by the number of customers, and the bank had 120,000 customers opening new accounts every month.
The bank works with individuals and consumers but doesn’t provide services to businesses like corporations, partnerships, or trusts. The bank is based in a place called Stellenbosch in South Africa, and it has over 15 million customers who use its 852 branches. Capitec Bank has many ATMs nationwide; most customers do their banking using their mobile phones or the Internet. The company makes banking simple for its customers and only charges small fees.
AngloGold Ashanti
Year founded: 2004
Founder: Maria Ramos and Christine Ramon
Sector: Non-Energy Materials
Location: Johannesburg, South Africa
World ranking: 1984
Market Value: $10,196,000,000 billion
AngloGold Ashanti is a multinational mining company considered one of Africa’s most valuable companies. The company was founded in 2004 when AngloGold Limited merged with Ashanti Goldfields Company Limited, headquartered in Johannesburg, South Africa.
AngloGold Ashanti operates in several countries, including South Africa, Ghana, Tanzania, Mali, and Guinea. The company primarily produces gold but mines silver, uranium, and other minerals. With considerable reserves of gold ore, AngloGold Ashanti is the third-largest gold mining company worldwide in terms of production.
One factor that makes AngloGold Ashanti one of the most valuable companies in Africa is its size and scale. The company employs around 31,000 people worldwide and has a market capitalisation of approximately $7.3 billion as of 2021. It has been listed on many stock exchanges, including the Johannesburg and the New York Stock Exchange.
Dangote Cement
Year founded: 1981
Founder: Aliko Dangote
Sector: Trading cement
Location: Lagos, Nigeria
World ranking: 1995
Market Value: $9,986,000,000 billion
Dangote Cement Plc is a company in Nigeria that makes and sells cement. Cement is a material used in building construction, like for making walls and floors. The company is not only based in Nigeria, but also has factories or import places in nine other African countries.
As a multinational company, Dangote Cement Plc is owned by many people who buy shares in the company. The company makes, prepares, imports, packages, and distributes cement and related products. Related products might include things like mortar or concrete.
How We Reviewed Our Most Valuable Companies in Africa
Our process for reviewing the most valuable companies in Africa involved various reliable sources, financial reports, market capitalisation, industry leaders, news and trends, social impact, and expert opinions.
To begin with, we looked for reputable sources that publish rankings or lists of the top companies in Africa, providing annual reports on the most valuable companies in various regions. Then we explored the companies’ financial reports to gain insight into their financial performance, including revenue, profit, and assets.
We also checked the market capitalisation of the companies listed on African stock exchanges, such as JSE, NSE, and EGX.
Besides financial performance, we considered the companies’ social impact and sustainability practices, favouring those that contribute positively to society, prioritise environmental sustainability, and have good corporate governance.
We also consulted industry experts, financial analysts, and investment professionals with expertise in the African market to gain valuable perspectives on the most valuable companies in Africa.