Over the years, African businesses and companies have been defying the odds and growing exponentially. The African business scene today is highly improved compared to that of the last three decades. The number of African owned businesses have grown and a majority are thriving and beating even some developed countries. The COVID-19 pandemic has affected African economies; drastically reducing the development of these countries. With trends like enforced curfews, lockdowns, donations for vaccinations and invariably the fall in the value of their currencies, a majority of African businesses struggled to cope.
Is a South-African company that majors in the Consumers and Non-Cyclicals sector. In 2020, with a market capitalization of 62,272 million dollars, Naspers was ranked second among the top African companies.
Anglo American is also a global mining company founded in Johannesburg, South Africa. It is considered the world's largest producer of platinum as well as a major producer of diamonds, copper, nickel, iron ore and thermal coal.
Anglo American Platinum ltd is a South African based metal mining company, it is a group member of the Anglo American plc Group. It is also the world's leading producer of platinum group metals accounting for about 38% of the world's annual supply.
FirstRand Limited also known as FirstRand Group, is a financial services provider headquartered in Gauteng South Africa, it is the holding company of FirstRand Bank.
Vodacom Group Limited is a South African telecommunications company. Vodacom is majority owned by Vodafone (60.5% holding), which is considered one of the worldÃ¢â‚¬â„¢s largest communications companies by revenue. It is ranked fifth with a market cap of 15,698 million dollars.
Impala Platinum Holdings Limited also known as Implats is a major producer and supplier of platinum group metals (PGMs) to industrial economies. It is also a South African company head quartered in Illovo, South Africa. It is the sixth top African company with a market cap of 14,725 million dollars.
Standard Bank Group is a major Bank and financial services group located in Johannesburg South Africa. It is Africa's biggest lender by assets. It offers fixed income and currencies, commodities and equities to the global market. It has a market cap of about 13,760 million dollars and is the 7th top company in Africa.
Maroc Telecom is another telecommunications company, it is located in Rabat, Morocco and is currently the largest telecommunications network provider in the Morocco. Its market cap rose from 10,088 in 2020 to 13,517 million dollars in 2021 making it the 8th top company in Africa.
Formerly Safaricom Limited is also a telecommunications company that has placed Kenya among the top 10 companies in Africa. It has shown significant improvement and moved from the 10th ranked top company to the 9th top company in Africa with a market cap of 13,282 million dollars.
Kumba Iron Ore is a mining company headquartered in Gauteng, South Africa. It is majority owned by Anglo American Plc (63.4% holdings). Its main product is iron ore, it is the largest iron-ore producer in the world. Founded in 2005, it has done well by attaining a spot among the 10 top companies in Africa with a market capitalization of 13,273 million dollars which is a huge improvement from its 5,051 million dollars market cap in 2020.
A large percentage of the top 10 companies in Africa are situated in South Africa. In fact among the top 20 African companies, only two; Dangote Cement (ranked 20) and Airtel Africa (ranked 16) are Nigerian companies. The rest except Attijariwafa Bank (Morocco) are South African companies.
11. Sibanye Stillwater
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Most times in life when you are ready to take important decisions such as starting up a new business, you need to get a good mentor someone who can advise you and guide you on the right path. And when looking for a good mentor look for someone who understands your field of business too.
Nigeria has managed to maintain a high percentage among the top 10 companies in West Africa.