I wrote something about why African businesses fail; you should check it out. However, let’s move away from failure this time and talk about successful businesses in Africa.
It’s no longer news that running a successful business in Africa is not for everybody. This is due to all the challenges to be overcome while running a business on the continent. Hence, when we see businesses thriving against all odds in this part of the world, it’s always a good idea to give them the accolades they deserve.
Dividing the list into four, based on the four regions in Africa, here is the list of the current most successful businesses in Africa
Contents
A. North Africa
1. Maroc Telecom
Country: Morocco
Industry: Telecommunication
Net Income: $266 million
Market Cap: $11,082 million
2. Attijariwafa Bank
Country: Morocco
Industry: Finance
Net Income: $568 million
Market Cap: $6,993 million
3. Commercial International Bank
Country: Egypt
Industry: Finance
Net Income: $747 million
Market Cap: $6,061 million
4. Banque Centrale Populaire
Country: Morocco
Industry: Finance
Net Income: $293 million
Market Cap: $4,067 million
5. LafargeHolcim Maroc
Country: Morocco
Industry: Construction Materials
Net Income: $155 million
Market Cap: $2,810 million
6. Qatar National Bank Alahli
Country: Egypt
Industry: Finance
Net Income: $456 million
Market Cap: $2,474 million
7. Vodafone Egypt
Country: Egypt
Industry: Telecommunication
Net Income: $158 million
Market Cap: $2,391 million
8. Orange Egypt
Country: Egypt
Industry: Telecommunication
Net Income: $-104 million
Market Cap: $1,995 million
9. Taqa Morocco
Country: Morocco
Industry: Energy
Net Income: $103 million
Market Cap: $1,959 million
10. Eastern Tobacco
Country: Egypt
Industry: Tobacco
Net Income: $236 million
Market Cap: $1,791 million
Morocco and Egypt share the region equally as each country produce 50% of the top 10 businesses in the region.
B. West Africa
1. Dangote Cement
Country: Nigeria
Industry: Construction Materials
Net Income: $523 million
Market Cap: $5,188 million
2. MTN Nigeria
Country: Nigeria
Industry: Telecommunication
Net Income: n/a
Market Cap: $4,767 million
3. BUA Cement
Country: Nigeria
Industry: Construction Materials
Net Income: n/a
Market Cap: $3,110 million
4. Airtel Africa
Country: UK
Industry: Telecommunication
Net Income: n/a
Market Cap: $2,923 million
5. Tullow Oil
Country: UK
Industry: Oil & Gas
Net Income: $-291 million
Market Cap: $2,888 million
6. Sonatel
Country: Senegal
Industry: Telecommunication
Net Income: $280 million
Market Cap: $2,166 million
7. Nestlé Nigeria
Country: Nigeria
Industry: Food Products
Net Income: $119 million
Market Cap: $1,712 million
8. Guaranty Trust Bank
Country: Nigeria
Industry: Finance
Net Income: $508 million
Market Cap: $1,444 million
9. Zenith Bank
Country: Nigeria
Industry: Finance
Net Income: $543 million
Market Cap: $1,444 million
10. Seplat Petroleum Development
Country: Nigeria
Industry: Oil & Gas
Net Income: $277 million
Market Cap: $758 million
Despite the global pandemic and insecurity issues in Nigeria, the country maintains its position as the Giant of (West) Africa, producing 70% of the companies on this list.
C. East Africa
1. Safaricom
Country: Kenya
Industry: Telecommunication
Net Income: $598 million
Market Cap: $9,966 million
2. Tanzania Breweries
Country: Tanzania
Industry: Beverages
Net Income: $54 million
Market Cap: $1,396 million
3. Equity Group Holdings
Country: Kenya
Industry: Finance
Net Income: $211 million
Market Cap: $1,168 million
4. East African Breweries
Country: Kenya
Industry: Beverages
Net Income: $84 million
Market Cap: $1,082 million
5. KCB Group
Country: Kenya
Industry: Finance
Net Income: $238 million
Market Cap: $999 million
6. Vodacom Tanzania
Country: Tanzania
Industry: Telecommunication
Net Income: $39 million
Market Cap: $827 million
7. Tanzania Cigarette Co.
Country: Tanzania
Industry: Tobacco
Net Income: $20 million
Market Cap: $738 million
8. Co-operative Bank of Kenya
Country: Kenya
Industry: Finance
Net Income: $135 million
Market Cap: $690 million
9. Standard Chartered Kenya
Country: Kenya
Industry: Finance
Net Income: $78 million
Market Cap: $592 million
10. NMB Bank
Country: Tanzania
Industry: Finance
Net Income: $65 million
Market Cap: $508 million
Kenya and Tanzania go on a loggerhead for this one, but Kenya comes out with a narrow win, claiming 60% of the positions while Tanzania settles for the remaining 40%.
D. Southern Africa
1. Prosus
Country: Netherlands
Industry: Technology
Net Income: n/a
Market Cap: $119,141 million
2. Naspers
Country: South Africa
Industry: Media
Net Income: $380 million
Market Cap: $62,529 million
3. Financière Richemont
Country: South Africa
Industry: Luxury Goods
Net Income: $149 million
Market Cap: $28,000 million
4. Anglo American
Country: South Africa
Industry: Metals & Mining
Net Income: $195 million
Market Cap: $22,618 million
5. Anglo American Platinum
Country: South Africa
Industry: Metals & Mining
Net Income: $1,019 million
Market Cap: $13,048 million
6. Firstrand
Country: South Africa
Industry: Finance
Net Income: $1,701 million
Market Cap: $12,553 million
7. Vodacom Group
Country: South Africa
Industry: Telecommunication
Net Income: $817 million
Market Cap: $12,483 million
8. Standard Bank Group
Country: South Africa
Industry: Finance
Net Income: $1,450 million
Market Cap: $10,122 million
9. AngloGold Ashanti
Country: South Africa
Industry: Metals & Mining
Net Income: $-7 million
Market Cap: $8,760 million
10. South32
Country: Australia
Industry: Metals & Mining
Net Income: $389 million
Market Cap: $8,355 million
As expected, South Africa dominates here, sparing only 20% for Australia and Switzerland.
This list is based on 2020 performance, as sourced from African Business
