Africa’s economy is growing, and with it, the wealth of its top companies. Despite the challenges that face the continent, many African businesses have managed to thrive and make a name for themselves. In this article, we will explore the 12 richest companies in Africa.
Below are 12 top richest companies in Africa and their net worth.
1. Naspers 🇿🇦 ($31.49 billion)
Naspers Limited is a South African multinational internet, technology and multimedia holding company headquartered in Cape Town, with interests in online retail, publishing and venture capital investment. Naspers’ principal shareholder is its Dutch listed investment subsidiary Prosus, which owns approximately 49% of its parent as part of a cross ownership structure.
2. First Rand 🇿🇦 ($18.7 billion)
FirstRand Limited, also referred to as FirstRand Group is the holding company of FirstRand Bank, and is a financial services provider in South Africa. It is one of the financial services providers licensed by the Reserve Bank of South Africa, the national banking regulator.
3. Standard Bank Group 🇿🇦 ($18 billion)
Standard Bank Group Limited is a major South African bank and financial services group. It is Africa’s biggest lender by assets.[3] The company’s corporate headquarters, Standard Bank Centre, is situated in Simmonds Street, Johannesburg.
4. Capitec Bank 🇿🇦 ($12.1 billion)
Capitec Bank is a South African retail bank. As of August 2017 the bank was the second largest retail bank in South Africa, based on number of customers, with 120,000 customers opening new accounts per month
5. Gold Fields 🇿🇦 ($11 billion)
Gold Fields Limited (formerly The Gold Fields of South Africa) is one of the world’s largest gold mining firms. Headquartered in Johannesburg, South Africa, the company is listed on both the Johannesburg Stock Exchange (JSE) and the New York Stock Exchange (NYSE).
6. Vodacom 🇿🇦 ($10.1 billion)
Vodacom Group Limited is a South African mobile communications company, providing voice, messaging, data and converged services to over 130 million customers across Africa. From its roots in South Africa, Vodacom has grown its operations to include networks in Tanzania, the Democratic Republic of the Congo, Mozambique, and Lesotho, and provides business services to customers in over 32 African countries, including Nigeria, Zambia, Angola, Kenya, Ghana, Côte d’Ivoire, and Cameroon.
7. MTN 🇿🇦 ($8.3 billion)
MTN Group Limited (formerly M-Cell) is a South African multinational corporation and mobile telecommunications provider. Its head office is in Johannesburg. As of December 2022 MTN recorded 289.1 million subscribers. MTN is among the largest mobile network operators in the world, and the largest in Africa
8. Sanlam 🇿🇦 ($8.2 billion)
Sanlam is a South African financial services group headquartered in Bellville, Western Cape, South Africa. Sanlam is the largest insurance company in Africa. It is listed on the Johannesburg Stock Exchange, the Namibian Stock Exchange and the A2X.
9. Shoprite 🇿🇦 ($7.9 billion)
Shoprite Holdings Ltd (Shoprite) is Africa’s largest supermarket retailer, operating 3,326 stores across the continent (distribution of total operations as at 2 July 2023). The company’s headquarters are in Brackenfell in the Western Cape province of South Africa
10. Bid Corp 🇿🇦 ($7.86 billion)
Bidcorp is an international broad-line foodservice group, listed on the JSE, South Africa, and present in developed and developing economies in five continents.
11. AngloGold Ashanti🇿🇦 ($7.69 billion)
AngloGold Ashanti Limited is an independent and global gold mining company with a diverse high-quality portfolio of cooperation, projects and exploration activities formed in 2004 by the merger of AngloGold and the Ashanti Goldfields Corporation.
12. Dangote Cement 🇳🇬 ($7.3 billion)
Dangote Cement Plc is a Nigerian publicly traded multinational cement manufacturer headquartered in Lagos. The company is engaged in the manufacture, preparation, import, packaging, and distribution of cement and related products in Nigeria, and has plants or import terminals in nine other African countries.
Sources: Trading Economics, Yahoo, FT.