Nigerian firms missing from top 15 most valuable African companies
Insider Monkey, a finance website that provides free insider trading, has released a ranking of the top 15 most valuable companies in Africa, following a survey by McKinsey Africa.
The survey identified 438 African companies making over $1 billion in annual revenue.
Twenty-five percent of these companies are foreign-domiciled multinational franchises, 50 percent are locally owned, 40 percent are publicly listed, and 60 percent are privately held.
No Nigerian company made it to the top 15.
The companies were ranked using annual revenue, market caps and headcount to choose the most valuable African companies.
Africa’s most valuable company is Algeria’s Sonatrach Petroleum Corporation, with its annual revenue at $23 billion despite the COVID-19 pandemic.
The next on the list is Anglo American Platinum Company, with annual revenue of $13 billion and market capitalisation of $34 billion.
It is headquartered in Johannesburg and is responsible for about 35 percent of the total platinum produced globally.
In third is Sasol from South Africa developing liquid fuels, good quality chemicals, and low-carbon electricity. Its annual revenue was $12.25 billion and a market cap of $9 billion.
Rounding up the top five is South Africa’s Eskom and MTN, with the annual revenue at $12 billion and $11.2 billion respectively, and MTNs market capitalisation at $9 billion.
Other companies that make up the list include South Africa’s Shoprite, Imperial Holdings, Steinhoff International Holdings, Vodacom Group, Sanlam, the Bidvest Group, Massmart Holdings.
The Suez Canal Authority, managed by Egypt, reported a turnover of $5.10 billion during the 2020 financial year, making it Africa’s 13th most valuable company.
Coming in 14th place is Woolworths Holdings from South Africa, with its annual revenue at $5 billion and its market cap at $3.1 billion.
The last on the list is South Africa’s Datatec, an ICT company with over 8,000 workers. Its annual revenue is pegged at $4.2 billion as of 2020 and $338 million as its market cap.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Economy
 Naira ends week stronger with 0.9% gain against dollar at official market
Data published on Friday by the Central Bank of Nigeria (CBN) showed the local currency gained N1.34 compared with Thursday’s closing rate of N1,381.52 per dollar.
States
Niger: Police rescue two suspected phone thieves from mob
He identified the suspects as Hassan Abdullahi, 20, and Khalifa Bashir, 22.Â
Heading 5
Court of Appeal nullifies Electoral Act provisions on parties’ primary election, membership register
Zenith Party argued that the disputed Electoral Act provisions unlawfully interfered with the internal affairs of political parties.Â
Lagos
Governor Sanwo-Olu inaugurates climate investment fund
Mr Sanwo-Olu described the fund as a landmark intervention.Â
States
Judiciary partners revenue board to boost IGR in Taraba
Mr Agya commended the service for its reforms.Â
NationWide
NRC reaffirms police partnership to protect rail assets
Mr Opeifa described the nation’s railway infrastructure as critical national assets that must be safeguarded.Â
