Africa is now an emerging player with a significant boom in investments and business activities. Other economies have been investing in the whole African continent, and as of 2021, the African economy stands at $2.6 trillion. Enterprises have invested in transportation, network, infrastructure, and other major business ventures throughout the continent. With the growing need to compete with European, American, and Asian economies and the inflow of FDI, African GDP is projected to be at $29 trillion by the year 2050.
Insider Monkey has published an article, Top 15 Most Valuable African Companies. The discussion below will group the companies per sector.
Information and Communications Technology Sector
Datatec, based in Johannesburg, is one of Africa’s most valuable public media companies. With annual revenue of $4.2 billion and Datatec’s rapid growth, it is now a global ICT service and solutions organization.
Established in 1994, Vodacom Group, a mobile service provider, has operational activities throughout Africa, approximately 8,000 employees, and $6.48 billion in annual revenue.
With MTN Group’s acquisition of Verizon in 2008, the multinational mobile telecommunications group has provided information management to various corporate customers throughout South Africa. It has brought in annual revenue of $11.2 billion.
Retailers, E-Commerce, Consumer Products
Woolworths Holdings, Africa’s largest retailer, has a strong international presence as it also provides services in Africa. Its annual revenue is $5 billion. Another strong retailer would be Shoprite Holdings, with yearly revenue of $4 billion.
Massmart Holdings and Steinhoff International Holdings are large distributors of consumer and retail products in Africa. Massmart has an annual revenue of $5.5 billion, while Steinhoff International Holdings has an annual revenue of $9.4 billion.
Services
The Suez Canal Authority, a government-owned and operated, is known for its management of the Suez Canal and its ferry boats and links. It has an annual revenue of $5.1 billion.
The Bidvest Group is known for the foodservice, trade, and delivery with almost 130,000 personnel. They have business ventures in other commercial services and workforce services; they have annual revenue of $5.7 billion.
Sanlam is a life insurance company based in Cape Town with a business presence outside of Africa too. Its annual revenue is $5.8 billion.
Imperial Holdings has a presence in different industries such as consumer goods, energy, healthcare, and transportation. It has an annual revenue of $10.2 billion.
Eskom Holdings SOC Ltd. is a company known for supplying electricity; because of its significant presence in the community, its annual revenue is $12 billion.
Sasol, established in 1950, is developing various commodity sources and low-carbon electricity. Its annual revenue is $9 billion.
Anglo American Platinum Company is the biggest platinum producer globally, with annual revenue of $13 billion.
With ownership of the Algerian government, Sonatrach Petroleum Corporation is one of the world’s largest oil companies with annual revenue of $23 billion.
To read more of the analysis per company, head on over to Insider Monkey’s Top 15 Most Valuable African Companies.
