Our African readers will be delighted to read about the Richest Companies in Africa which is our focus today.
Africa is home to thousands of companies spanning different fields including eCommerce, agriculture, technology, banking and finance, and petroleum, just to mention a few.
These companies have contributed immensely to the employment status and at the same time the wealth of the continent. Journey with us as we unveil to you the Top 10 Richest Companies in Africa.
Top 10 Richest Companies in Africa
It is interesting to know that the African economy is steadily growing with many investors investing in the different business sectors in the continent.
From the tons of companies established in Africa, we have been able to, although tasking identifies the Top 10 Richest Companies in Africa.
1. FirstRand
Location: South Africa
Net Worth:$94.8 billion
FirstRand Limited popularly referred to as FirstRand Group sits atop our list of Richest Companies in Africa coming in at the first spot. The company provides financial services in South Africa being one of the financial services providers licensed by the Reserve Bank of South Africa, the national banking regulator.
FirstRand services cover insurance, banking, and investment products rendered to commercial, retail, public as well as the corporate sector. More so, it has a global presence as it has branches in eight African countries including Nigeria, and outside the continent.
2. Standard Bank of South Africa Limited
Location: South Africa
Net Worth:$153.05 billion
The Standard Bank of South Africa Limited is also a leading provider of financial services in South Africa and the continent at large.
The financial giant group renders financial services to individuals, businesses, institutions, and corporations in Africa and across the globe. More so, the financial company is considered to be Africa’s largest lender in terms of assets.
3. Imperial Holdings
Location: South Africa
Net Worth: UK£74.43902 trillion
Imperial Holdings is yet another South African company on the list coming in at the third spot among the Top 10 Richest Companies in Africa.
The company which began initially in 1946 as a transport and distribution company, has diversified and is known to provide integrated market access and logistics solutions focusing on diverse industries such as healthcare, consumer, automotive, chemicals, industrial, and commodities.
4. Sonangol
Location: Angola
Net Worth: 5 billion barrels of offshore and coastal petroleum reserves
Sonangol is not left out among the Richest Companies in Africa coming in at number fourth on our list. Group Sonangol was established in 1976 to oversee the petroleum and natural gas production in Angola.
The group consists of Sonangol E.P. alongside many subsidiaries, and the country’s government owns the highest stake in this company.
More so, the company is not only present in Africa but has a global presence with branches in America, Europe, and Asia.
5. Sonatrach
Location: Algeria
Net worth: US$ 76.1 billion
Sonatrach is one of the richest companies in Africa in the oil industry. The company was established in 1963 and it is the national state-owned oil company of Algeria and is overseen by the Algerian government.
The company is known to be the largest company in Africa with over 150 subsidiaries. More so, It is also in charge of the largest oil fields in Africa and for this reason, it is often referred to as the first African oil “major”.
Read Also: Top 10 Richest Companies in the World
6. Steinhoff International
Location: Sout Africa
Net Worth US$1.2 billion
Steinhoff International comes in as the number six company on our list of Top 10 Richest Companies in Africa.
The company is a global retailer having more than 40 brands and branches in more than 30 countries across Africa, Asia, Europe, the United States, Australia, and New Zealand.
The company mostly deals in furniture and household goods, and it is best known for providing products at affordable prices.
7. MTN Group
Location: South Africa
Net Worth: $41.6 Billion
MTN Group was established in 1994 with the initial nomenclature “M-Cell”. The South African company is a renowned and popular telecommunication company with over 232 million customers making it one of the Richest Companies in Africa.
More so, MTN Group is considered the largest telecommunication network in Africa having a global presence in more than 20 countries.
8. South African Synthetic Oil Limited (Sasol)
Location: South Africa
Net Worth: 25.27700 US$
South African Synthetic Oil Limited often referred to as “Sasol” is a South African integrated energy and chemical company known to develop and commercialize technologies, as well as build and operate facilities to produce a variety of product streams, including liquid fuels, chemicals, and low-carbon electricity.
Sasol has a global presence with operations in more than 33 countries making it one of the richest companies in Africa.
9. Bidford (Ex BidCorp)
Location: South Africa
Net Worth: £2.36bn (2014/15)
Bidcorp is an international broad-line food service group located in South Africa. The company is beyond the shores of the country and extends to other countries in Africa and other continents. The company made the list because of its large annual turnover.
10. Eskom
Location: South Africa
Net Worth:$66 billion
Eskom brings us to the end of our listing coming in at the tenth spot among the Richest Companies in Africa.
The company is a public electricity public-utility in South Africa established in the 1920s as the Electricity Supply Commission in the country. As such, Eskom is ranked as Africa’s largest electricity producer.
Read Also: The 15 Largest Companies in the World
Conclusion
There you have the Top 10 Richest Companies in Africa with companies from different sectors across several countries in the African continent. South African companies dominate the list with only a few companies attributed to other countries.