African Business has released its annual ranking of Africa’s top 250 listed companies, which indicates that these firms continue to face challenging business conditions. Despite some signs of diversification in the make-up of Africa’s corporate giants, the bounce-back from the first phase of the COVID-19 pandemic has not been sustained.
The combined market capitalisation of the top 250 companies has fallen from $701 billion to $561 billion since last year’s survey, which is below the record $948 billion achieved in 2015. Although the 2022 figure represented a strong recovery from the low of $556 billion recorded in 2020, many companies enjoyed a temporary bounce from the release of pent-up demand.
The lion’s share of this year’s fall is due to big drops in the value of South African stocks, from $488 billion to $375 billion over the past year. The position of South African companies within the pan-African corporate landscape is particularly interesting. Stock values on the Johannesburg Stock Exchange (JSE) have tumbled in dollar terms over the past year through a variety of factors, including the falling value of the rand, the underlying weakness of the South African economy, and the impact of low infrastructural investment on power supplies and transport reliability. This is reflected in the survey, with the number of South African entries in our Top 250 falling from 133 last year to 96 in our 2023 rankings.
Despite continued weak economic growth in South Africa, the country’s 96 corporations listed in the table of the continent’s Top 250 companies completely dominate it, taking 67% of its entire value this year, with a combined market capitalisation of $375bn out of the $556bn total for the Top 250. Nine of the top ten slots in the table are filled by South African companies, with only telecoms company MTN Nigeria intruding into a perfect ten, while 15 out of the top 20 are South African. Of the remaining five, three are Nigerian and two Moroccan, which fairly reflects the balance of power in the overall table.
Internet and multimedia company Naspers retains the top position with a market capitalisation of $81 billion, up from $50 billion last year, although still down from a high point of $104 billion in 2021. Naspers also has the highest net income by a long way, with $12 billion, ahead of Anglo-American Platinum with $2.7 billion. However, analysts have suggested that some of the company’s operations may have little room for growth in its domestic market.
This ranking was compiled with a methodology based on market value at the end of March 2023. The 250th position in the rankings was achieved with $394 million in 2018, but that figure fell this year to the $229 million valuation of Cleopatra Hospital in Egypt.
Name | Sector | |||||||
---|---|---|---|---|---|---|---|---|
1 | 1 | Naspers | Consumer Non-Cyclicals | South Africa | 49,619 | 80,865 | 7,940 | 12 |
2 | 3 | FirstRand | Finance | South Africa | 29,739 | 19,090 | 6,178 | 2 |
3 | 5 | Standard Bank Group | Finance | South Africa | 20,915 | 16,347 | 7,183 | 2 |
4 | 6 | Vodacom Group | Telecommunications | South Africa | 20,102 | 14,292 | 6,334 | 1 |
5 | 2 | Anglo American Platinum | Non-Energy Materials | South Africa | 36,429 | 14,265 | 9,056 | 3 |
6 | 4 | MTN Group | Telecommunications | South Africa | 24,500 | 13,537 | 11,381 | 1 |
7 | 10 | Gold Fields | Non-Energy Materials | South Africa | 13,909 | 11,936 | 4,287 | 711 |
8 | 7 | Capitec Bank Holdings | Finance | South Africa | 18,604 | 11,044 | 1,861 | 587 |
9 | 18 | MTN Nigeria | Telecommunications | Nigeria | 10,471 | 10,602 | 4,370 | 779 |
10 | 20 | AngloGold Ashanti | Non-Energy Materials | South Africa | 10,032 | 10,196 | 4,501 | 297 |
11 | 15 | Dangote Cement | Non-Energy Materials | Nigeria | 11,203 | 9,986 | 3,512 | 830 |
12 | 16 | Absa Group | Finance | South Africa | 11,048 | 8,686 | 5,438 | 1 |
13 | 8 | Sasol | Non-Energy Materials | South Africa | 15,354 | 8,638 | 17,920 | 2 |
14 | 19 | Attijariwafa Bank | Finance | Morocco | 10,250 | 8,335 | 2,528 | 582 |
15 | 9 | Kumba Iron Ore | Non-Energy Materials | South Africa | 14,446 | 8,163 | 4,058 | 988 |
16 | 11 | Impala Platinum Holdings | Non-Energy Materials | South Africa | 13,062 | 7,874 | 6,842 | 2 |
17 | 24 | Bid Corp | Consumer Services | South Africa | 7,300 | 7,533 | 8,686 | 289 |
18 | 21 | Shoprite Holdings | Consumer Non-Cyclicals | South Africa | 9,577 | 7,408 | 10,658 | 331 |
19 | 13 | Maroc Telecom | Telecommunications | Morocco | 11,782 | 7,307 | 3,454 | 266 |
20 | 31 | BUA Cement | Non-Energy Materials | Nigeria | 5,759 | 7,192 | 620 | 217 |
21 | 17 | Sanlam | Finance | South Africa | 11,003 | 7,075 | 5,257 | 584 |
22 | 23 | Nedbank Group | Finance | South Africa | 8,153 | 6,252 | 3,496 | 785 |
23 | 14 | Sibanye Stillwater | Non-Energy Materials | South Africa | 11,581 | 5,844 | 7,534 | 1 |
24 | 26 | Investec | Finance | South Africa | 6,716 | 5,503 | n/a | n/a |
25 | 12 | Safaricom | Telecommunications | Kenya | 11,898 | 5,473 | 2,567 | 581 |
26 | 22 | Discovery | Finance | South Africa | 8,393 | 5,333 | 3,390 | 316 |
27 | 37 | Commercial International Bank | Finance | Egypt | 5,009 | 4,967 | 1,078 | 528 |
28 | 25 | Airtel Africa | Telecommunications | Nigeria | 6,903 | 4,949 | 3,820 | 511 |
29 | 35 | Bidvest Group | Consumer Cyclicals | South Africa | 5,209 | 4,860 | 5,813 | 311 |
30 | 27 | Aspen Pharmacare Holdings | Healthcare | South Africa | 6,186 | 4,607 | 2,265 | 381 |
31 | 32 | Banque Centrale Populaire | Finance | Morocco | 5,622 | 4,513 | 1,986 | 235 |
32 | 30 | Remgro | Finance | South Africa | 5,826 | 4,306 | 4,238 | 362 |
33 | 38 | B2gold Corp | Non-Energy Materials | Namibia | 4,856 | 4,240 | 2,347 | 388 |
34 | 59 | BUA Foods | Consumer Non-Cyclicals | Nigeria | 2,575 | 3,985 | n/a | n/a |
35 | 34 | Exxaro Resources | Energy | South Africa | 5,296 | 3,673 | 2,526 | 756 |
36 | 43 | Woolworths Holdings | Consumer Non-Cyclicals | South Africa | 4,160 | 3,640 | 4,698 | 218 |
37 | 29 | Pepkor | Consumer Cyclicals | South Africa | 5,886 | 3,568 | 4,715 | 354 |
38 | 36 | Clicks Group | Consumer Non-Cyclicals | South Africa | 5,160 | 3,536 | 2,180 | 126 |
39 | 46 | Afreximbank (DRs) | Finance | Mauritius | 4,038 | 3,510 | n/a | n/a |
40 | 42 | Bank of Africa (formerly BMCE) | Finance | Morocco | 4,238 | 3,318 | 1,520 | 225 |
41 | 40 | Old Mutual | Finance | South Africa | 4,437 | 3,268 | 4,711 | 403 |
42 | 28 | Northam Platinum | Non-Energy Materials | South Africa | 5,919 | 3,236 | 2,029 | 586 |
43 | 39 | LafargeHolcim Maroc | Non-Energy Materials | Morocco | 4,623 | 3,167 | n/a | n/a |
44 | 44 | Multichoice | Telecommunications | South Africa | 3,989 | 3,077 | 3,552 | 65 |
45 | 33 | OUTsurance Group (formerly Rand Merchant Investment) | Finance | South Africa | 5,471 | 3,016 | n/a | 149 |
46 | 41 | African Rainbow Minerals | Non-Energy Materials | South Africa | 4,400 | 2,921 | 984 | 723 |
47 | 53 | African Rainbow Capital Investments | Finance | South Africa | 2,977 | 2,758 | n/a | n/a |
48 | 55 | Sonatel | Telecommunications | Côte d’Ivoire | 2,680 | 2,617 | 2,328 | 444 |
49 | 51 | Harmony Gold Mining | Non-Energy Materials | South Africa | 3,117 | 2,549 | 2,514 | 62 |
50 | 48 | Growthpoint Properties | Finance | South Africa | 3,456 | 2,525 | 422 | 299 |
51 | 71 | Managem | Non-Energy Materials | Morocco | 2,040 | 2,462 | 938 | 157 |
52 | 63 | Vivo Energy | Consumer Cyclicals | South Africa | 2,279 | 2,455 | n/a | n/a |
53 | NEW | Orange Côte d’Ivoire | Telecommunications | Côte d’Ivoire | NEW | 2,371 | n/a | n/a |
54 | 50 | Royal Bafokeng Platinum | Non-Energy Materials | South Africa | 3,194 | 2,346 | 858 | 179 |
55 | 57 | Distell Group | Consumer Non-Cyclicals | South Africa | 2,641 | 2,266 | 1,939 | 130 |
56 | 58 | TAQA Morocco | Utilities | Morocco | 2,614 | 2,215 | 1,323 | 127 |
57 | 45 | Mr Price Group | Consumer Non-Cyclicals | South Africa | 3,906 | 2,142 | 1,629 | 202 |
58 | 52 | Ninety One (previously part of Investec) | Finance | South Africa | 3,095 | 2,108 | n/a | 257 |
59 | 70 | Tiger Brands | Consumer Non-Cyclicals | South Africa | 2,066 | 2,038 | 1,942 | 161 |
60 | 56 | Nestle Nigeria | Consumer Non-Cyclicals | Nigeria | 2,658 | 1,859 | 970 | 106 |
61 | 64 | Santam | Finance | South Africa | 2,277 | 1,849 | 1,498 | 110 |
62 | 78 | Abou Kir Fertilizers & Chemicals | Non-Energy Materials | Egypt | 1,717 | 1,795 | 852 | 434 |
63 | 81 | Zenith Bank | Finance | Nigeria | 1,691 | 1,761 | 2,052 | 486 |
64 | NEW | Geregu Power | Energy | Nigeria | NEW | 1,753 | 115 | 25 |
65 | 49 | The Foschini Group | Consumer Cyclicals | South Africa | 3,339 | 1,697 | 2,742 | 184 |
66 | 54 | Ciments du Maroc | Non-Energy Materials | Morocco | 2,766 | 1,680 | n/a | n/a |
67 | 77 | MCB Group | Finance | Mauritius | 1,723 | 1,664 | 526 | 213 |
68 | 88 | Guaranty Trust Holding Company | Finance | Nigeria | 1,585 | 1,629 | 974 | 396 |
69 | 79 | Thungela Resources | Energy | South Africa | 1,715 | 1,601 | 2,773 | 995 |
70 | 62 | Life Healthcare | Healthcare | South Africa | 2,340 | 1,595 | 1,619 | 88 |
71 | 61 | COSUMAR | Consumer Non-Cyclicals | Morocco | 2,378 | 1,589 | 1,034 | 81 |
72 | 72 | Marsa Maroc | Industrials | Morocco | 2,014 | 1,536 | 381 | n/a |
73 | 66 | Spar Group | Consumer Non-Cyclicals | South Africa | 2,237 | 1,529 | 7,877 | 129 |
74 | 67 | Sappi | Non-Energy Materials | South Africa | 2,208 | 1,477 | 7,296 | 536 |
75 | 96 | Egypt Kuwait Holding | Finance | Egypt | 1,433 | 1,456 | 1,053 | 241 |
76 | 74 | Momentum Metropolitan | Finance | South Africa | 1,774 | 1,443 | 0 | 210 |
77 | 98 | Tanzania Breweries | Consumer Non-Cyclicals | Tanzania | 1,386 | 1,374 | n/a | n/a |
78 | 85 | Telecom Egypt | Telecommunications | Egypt | 1,633 | 1,369 | 1,436 | 298 |
79 | 83 | AVI | Consumer Non-Cyclicals | South Africa | 1,658 | 1,332 | 806 | 102 |
80 | 76 | Scancom (MTN Ghana) | Telecommunications | Ghana | 1,726 | 1,330 | 772 | 222 |
81 | 80 | Afriquia Gaz | Energy | Morocco | 1,709 | 1,311 | n/a | n/a |
82 | 93 | Eastern Company | Consumer Non-Cyclicals | Egypt | 1,478 | 1,307 | 887 | 187 |
83 | 84 | Equity Group Holdings | Finance | Kenya | 1,657 | 1,296 | 758 | 366 |
84 | 75 | Wafa Assurance | Finance | Morocco | 1,740 | 1,284 | n/a | n/a |
85 | 65 | Dis-Chem Pharmacies | Consumer Non-Cyclicals | South Africa | 2,244 | 1,257 | 1,903 | 53 |
86 | 97 | Label Vie | Consumer Non-Cyclicals | Morocco | 1,432 | 1,231 | 1,339 | 57 |
87 | 82 | Truworths International | Consumer Cyclicals | South Africa | 1,679 | 1,228 | 1,039 | 172 |
88 | 69 | Qatar National Bank AlAhli | Finance | Egypt | 2,122 | 1,203 | 855 | 332 |
89 | 87 | Netcare | Healthcare | South Africa | 1,586 | 1,201 | 1,249 | 63 |
90 | 101 | Misr Fertilizers Production | Non-Energy Materials | Egypt | 1,252 | 1,183 | 585 | 228 |
91 | 73 | Pick N Pay Stores | Consumer Non-Cyclicals | South Africa | 1,815 | 1,176 | 6,134 | 82 |
92 | 68 | Delta Corporation | Consumer Non-Cyclicals | Zimbabwe | 2,206 | 1,165 | 499 | 113 |
93 | 89 | Total Maroc | Consumer Cyclicals | Morocco | 1,568 | 1,139 | 1,862 | 52 |
94 | 134 | Banque Internationale Arabe de Tunisie (BIAT) | Finance | Tunisia | 787 | 1,083 | 433 | 120 |
95 | 95 | Société de Fabrication des Boissons de Tunisie (SFBT) | Consumer Non-Cyclicals | Tunisia | 1,441 | 1,069 | 420 | 89 |
96 | 109 | Stanbic IBTC Holdings | Finance | Nigeria | 1,064 | 1,057 | 584 | 170 |
97 | 114 | El Sewedy Electric | Industrials | Egypt | 987 | 1,057 | 3,009 | 177 |
98 | 91 | e-finance for Digital and Financial Investments S.A.E. | Finance | Egypt | 1,550 | 1,035 | n/a | n/a |
99 | 47 | Econet Wireless | Telecommunications | Zimbabwe | 3,479 | 1,031 | 259 | 61 |
100 | 90 | Telkom | Telecommunications | South Africa | 1,556 | 1,029 | 2,660 | 164 |
101 | 110 | East African Breweries | Consumer Non-Cyclicals | Kenya | 1,031 | 1,015 | 921 | 100 |
102 | 105 | MTN Uganda | Telecommunications | Uganda | 1,124 | 1,008 | 617 | 110 |
103 | 99 | Motus Holdings | Consumer Cyclicals | South Africa | 1,343 | 974 | 5,396 | 193 |
104 | 144 | Hosken Consolidated Investments | Consumer Services | South Africa | 691 | 969 | n/a | n/a |
105 | 86 | Barloworld | Industrials | South Africa | 1,596 | 955 | 2,274 | 123 |
106 | 112 | Credit Immobilier et Hotelier | Finance | Morocco | 1,009 | 934 | 338 | 64 |
107 | 92 | Italtile | Consumer Cyclicals | South Africa | 1,508 | 925 | 536 | 110 |
108 | 124 | Alexandria Containers & Goods | Industrials | Egypt | 848 | 924 | 148 | 106 |
109 | 119 | Lafarge Africa | Non-Energy Materials | Nigeria | 918 | 909 | 810 | 116 |
110 | 104 | PSG Konsult | Finance | South Africa | 1,194 | 882 | n/a | n/a |
111 | 94 | PSG Group | Finance | South Africa | 1,464 | 871 | 316 | 51 |
112 | 108 | FBN Holdings | Finance | Nigeria | 1,070 | 865 | 1,166 | 249 |
113 | 106 | Sothema | Healthcare | Morocco | 1,115 | 864 | n/a | n/a |
114 | 127 | Golden Pyramids Plaza | Finance | Egypt | 833 | 863 | n/a | n/a |
115 | 102 | KCB Group | Finance | Kenya | 1,231 | 861 | 693 | 411 |
116 | 131 | DRDGOLD | Non-Energy Materials | South Africa | 817 | 831 | 302 | 66 |
117 | 135 | Nigerian Breweries | Consumer Non-Cyclicals | Nigeria | 785 | 825 | 1,182 | 36 |
118 | 164 | Airtel Malawi | Telecommunications | Malawi | 566 | 807 | n/a | n/a |
119 | 167 | National Bank of Malawi | Finance | Malawi | 542 | 806 | n/a | n/a |
120 | 113 | MAS P.L.C. | Finance | South Africa | 1,001 | 787 | 46 | 18 |
121 | 118 | Karooooo (previously Cartrack) | Technology | South Africa | 918 | 777 | n/a | n/a |
122 | 158 | NMB Bank | Finance | Tanzania | 582 | 748 | n/a | n/a |
123 | 139 | Vodacom Tanzania | Telecommunications | Tanzania | 743 | 737 | n/a | n/a |
124 | 133 | Atlanta | Finance | Morocco | 788 | 728 | n/a | n/a |
125 | 140 | Tanzania Cigarette Co. | Consumer Non-Cyclicals | Tanzania | 733 | 726 | n/a | n/a |
126 | 122 | Tsogo Sun | Consumer Services | South Africa | 865 | 717 | n/a | n/a |
127 | 146 | Société Gén´´rale de Banques en Côte d’Ivoire | Finance | Côte d’Ivoire | 686 | 714 | n/a | n/a |
128 | 128 | Access Holdings | Finance | Nigeria | 833 | 694 | 1,575 | 388 |
129 | 160 | First National Bank Botswana | Finance | BOTSWANA | 577 | 690 | n/a | n/a |
130 | 141 | Crédit du Maroc | Finance | Morocco | 702 | 676 | 249 | 48 |
131 | 147 | Crytel Mauritius | Industrials | Mauritius | 683 | 671 | n/a | n/a |
132 | 181 | Lesieur Cristal | Consumer Non-Cyclicals | Morocco | 490 | 671 | 666 | 36 |
133 | 129 | IBL | Finance | Mauritius | 831 | 662 | n/a | n/a |
134 | 138 | Super Group | Industrials | South Africa | 747 | 636 | 2,726 | 81 |
135 | 168 | Sun International | Consumer Services | South Africa | 541 | 635 | 621 | 42 |
136 | 116 | EFG Hermes | Finance | Egypt | 942 | 635 | 355 | 60 |
137 | 163 | Reunert | Industrials | South Africa | 569 | 630 | 650 | 49 |
138 | 130 | Société des Brasseries du Maroc | Consumer Non-Cyclicals | Morocco | 821 | 628 | 288 | 40 |
139 | 175 | Faisal Islamic Bank of Egypt | Finance | Egypt | 518 | 623 | n/a | n/a |
140 | 152 | United Bank for Africa | Finance | Nigeria | 633 | 620 | 875 | 370 |
141 | 201 | Ezz Steel | Non-Energy Materials | Egypt | 428 | 614 | 2,718 | 215 |
142 | 136 | RCL Foods | Consumer Non-Cyclicals | South Africa | 767 | 602 | 2,031 | 60 |
143 | 132 | Banque Marocaine pour le Commerce et l’Industrie | Finance | Morocco | 812 | 597 | 299 | 19 |
144 | 107 | Coronation Fund Managers | Finance | South Africa | 1,110 | 596 | n/a | n/a |
145 | 150 | Co-operative Bank of Kenya | Finance | Kenya | 656 | 582 | 356 | 164 |
146 | 115 | Talaat Moustafa Group | Finance | Egypt | 954 | 581 | 649 | 74 |
147 | 117 | Fawry For Banking Technology And Electronic Payment | Finance | Egypt | 926 | 569 | 74 | 9 |
148 | 111 | Tullow Oil | Energy | Ghana | 1,016 | 564 | n/a | n/a |
149 | 148 | ADvTECH | Consumer Non-Cyclicals | South Africa | 680 | 560 | 383 | 44 |
150 | 126 | AECI | Non-Energy Materials | South Africa | 841 | 558 | 1,959 | 75 |
151 | 169 | FirstRand Namibia | Finance | Namibia | 540 | 558 | n/a | 68 |
152 | 60 | Transaction Capital | Finance | South Africa | 2,440 | 545 | n/a | 97 |
153 | 121 | Omnia Holdings | Non-Energy Materials | South Africa | 870 | 535 | 1,337 | 84 |
154 | 197 | CRDB Bank | Finance | Tanzania | 433 | 530 | n/a | n/a |
155 | 103 | Innscor Africa* | Consumer Non-Cyclicals | Zimbabwe | 1,230 | 228 | 400 | 34 |
156 | 157 | Absa Bank Kenya | Finance | Kenya | 588 | 525 | 246 | 104 |
157 | NEW | Illovo Sugar (Malawi) | Consumer Non-Cyclicals | Malawi | 267 | 523 | n/a | n/a |
158 | 177 | Oceana Group | Consumer Non-Cyclicals | South Africa | 509 | 510 | 478 | 43 |
159 | 243 | Sidi Kerir Petrochemicals | Non-Energy Materials | Egypt | 300 | 506 | 283 | 40 |
160 | 207 | Standard Bank Malawi | Finance | Malawi | 402 | 505 | n/a | n/a |
161 | 195 | Banque Attijari de Tunisie | Finance | Tunisia | 434 | 505 | 212 | 60 |
162 | 153 | Adcock Ingram Holdings | Healthcare | South Africa | 630 | 490 | 519 | 48 |
163 | 178 | Aluminium Company of Egypt | Non-Energy Materials | Egypt | 500 | 485 | 754 | 88 |
164 | 182 | Standard Chartered Bank Kenya | Finance | Kenya | 472 | 485 | 165 | 80 |
165 | 149 | JSE | Finance | South Africa | 664 | 480 | n/a | n/a |
166 | 156 | Datatec | Technology | South Africa | 604 | 479 | 4,637 | 34 |
167 | 166 | Coris Bank | Finance | Côte d’Ivoire | 543 | 469 | n/a | n/a |
168 | NEW | Global Telecom Holding (previously Orascom Telecom) | Telecommunications | Egypt | 783 | 464 | n/a | n/a |
169 | 155 | Poulina Group Holding | Consumer Non-Cyclicals | Tunisia | 616 | 460 | 1,069 | 39 |
170 | 159 | El Ezz Aldekhela Steel | Non-Energy Materials | Egypt | 578 | 458 | n/a | n/a |
171 | 174 | Aradei Capital | Finance | Morocco | 520 | 457 | n/a | n/a |
172 | 212 | NCBA Group | Finance | Kenya | 370 | 456 | n/a | n/a |
173 | 172 | Ecobank Transnational, Inc. | Finance | Côte d’Ivoire | 472 | 451 | n/a | n/a |
174 | 185 | Dangote Sugar Refinery | Consumer Non-Cyclicals | Nigeria | 467 | 448 | 823 | 66 |
175 | 193 | Hightech Payment Systems | Finance | Morocco | 445 | 447 | 97 | 11 |
176 | 125 | KAP Industrial Holdings | Non-Energy Materials | South Africa | 847 | 444 | 1,652 | 103 |
177 | 143 | Afrimat | Non-Energy Materials | South Africa | 696 | 444 | 295 | 49 |
178 | 187 | Banque de Tunisie | Finance | Tunisia | 462 | 443 | 135 | 50 |
179 | 200 | Union Bank Nigeria | Finance | Nigeria | 431 | 442 | n/a | n/a |
180 | NEW | Premier Group | Finance | South Africa | NEW | 436 | n/a | n/a |
181 | 142 | Emaar Misr for Development | Finance | Egypt | 699 | 415 | n/a | n/a |
182 | 198 | Botswana Insurance | Finance | BOTSWANA | 433 | 407 | n/a | n/a |
183 | 179 | Capricorn Group | Finance | Namibia | 497 | 405 | n/a | 69 |
184 | NEW | FMB Capital Holdings | Finance | Malawi | 241 | 401 | n/a | n/a |
185 | 213 | Société Ivoirienne de Banque | Finance | Côte d’Ivoire | 370 | 398 | n/a | n/a |
186 | 236 | Copperbelt Energy Corporation | Utilities | Zambia | 310 | 390 | n/a | n/a |
187 | 203 | Heliopolis Housing | Finance | Egypt | 426 | 386 | 85 | 34 |
188 | 173 | Travaux Généraux de Construction de Casablanca | Industrials | Morocco | 522 | 384 | n/a | n/a |
189 | 192 | Astral Foods | Consumer Non-Cyclicals | South Africa | 446 | 382 | 1,116 | 61 |
190 | 202 | Alexander Forbes | Finance | South Africa | 428 | 382 | n/a | n/a |
191 | 154 | Saham Assurance | Finance | Morocco | 618 | 380 | 609 | 32 |
192 | 219 | Okomu Oil Palm Co. | Consumer Non-Cyclicals | Nigeria | 343 | 380 | 134 | 48 |
193 | NEW | Alexandria Mineral Oils Co. | Energy | Egypt | 277 | 379 | 974 | 61 |
194 | 161 | Tharisa | Non-Energy Materials | South Africa | 577 | 375 | 686 | 167 |
195 | 151 | Namibia Breweries | Consumer Non-Cyclicals | Namibia | 636 | 372 | 166 | 26 |
196 | 162 | Onatel | Telecommunications | Côte d’Ivoire | 574 | 372 | n/a | n/a |
197 | 196 | Famous Brands | Consumer Services | South Africa | 433 | 370 | n/a | n/a |
198 | 218 | Absa Bank Botswana | Finance | Botswana | 350 | 366 | n/a | n/a |
199 | 230 | Grindrod | Industrials | South Africa | 323 | 359 | n/a | n/a |
200 | 221 | Tsogo Sun Hotels | Consumer Services | South Africa | 342 | 358 | n/a | n/a |
201 | 226 | Wilson Bayly Holmes | Industrials | South Africa | 332 | 357 | 1,015 | 40 |
202 | NEW | Akdital | Healthcare | Morocco | NEW | 356 | n/a | n/a |
203 | 199 | British American Tobacco Kenya | Consumer Non-Cyclicals | Kenya | 432 | 350 | 217 | n/a |
204 | 176 | Crédit Agricole Egypt | Finance | Egypt | 509 | 345 | 166 | 77 |
205 | 247 | Edita Food Industries | Consumer Non-Cyclicals | Egypt | 297 | 341 | 250 | 31 |
206 | NEW | Fidelity Bank | Finance | Nigeria | 223 | 336 | 668 | 91 |
207 | 211 | Juhayna Food Industries | Consumer Non-Cyclicals | Egypt | 374 | 335 | 369 | 21 |
208 | 184 | Auto Hall | Consumer Cyclicals | Morocco | 469 | 334 | n/a | n/a |
209 | 210 | Guinness Nigeria | Consumer Non-Cyclicals | Nigeria | 375 | 333 | 486 | 37 |
210 | 216 | Stanbic | Finance | Kenya | 354 | 328 | 131 | 73 |
211 | 231 | Presco PLC | Consumer Non-Cyclicals | Nigeria | 320 | 327 | 162 | 46 |
212 | 165 | National Bank of Kuwait – Egypt | Finance | Egypt | 548 | 325 | n/a | n/a |
213 | 220 | Housing & Development Bank | Finance | Egypt | 343 | 316 | n/a | n/a |
214 | 188 | Oragroup | Finance | Côte d’Ivoire | 459 | 316 | n/a | n/a |
215 | 222 | SBM Holdings | Finance | Mauritius | 337 | 313 | n/a | n/a |
216 | 232 | Tanzania Portland Cement | Non-Energy Materials | Tanzania | 318 | 311 | n/a | n/a |
217 | 204 | Mobile Telecommunications | Telecommunications | Namibia | 411 | 299 | 170 | 47 |
218 | 245 | Arindo Holdings (Mauritius) | Industrials | Mauritius | 299 | 299 | n/a | n/a |
219 | NEW | Abu Dhabi Islamic Bank – Egypt | Finance | Egypt | 152 | 299 | 198 | 73 |
220 | 229 | Oriental Weavers | Consumer Non-Cyclicals | Egypt | 324 | 299 | 429 | 27 |
221 | 233 | Compagnie Minière de Touissit | Non-Energy Materials | Morocco | 314 | 293 | n/a | n/a |
222 | NEW | Orascom Development Egypt | Construction | Egypt | 260 | 289 | 337 | 65 |
223 | NEW | Amen Bank | Finance | Tunisia | 207 | 285 | 156 | 43 |
224 | 215 | Stanbic Bank Uganda | Finance | Uganda | 357 | 285 | 295 | 82 |
225 | 227 | Hudaco Industries | Industrials | South Africa | 332 | 282 | 468 | 34 |
226 | 246 | Deep Yellow Limited | Energy | Namibia | 298 | 282 | n/a | n/a |
227 | NEW | Palmci | Consumer Non-Cyclicals | Côte d’Ivoire | 244 | 281 | n/a | n/a |
228 | 205 | Metair Investments | Industrials | South Africa | 409 | 280 | n/a | n/a |
229 | 237 | Zambia Sugar | Consumer Non-Cyclicals | Zambia | 308 | 269 | n/a | n/a |
230 | 186 | Curro Holdings | Consumer Non-Cyclicals | South Africa | 467 | 266 | 229 | 13 |
231 | NEW | FDH Bank | Finance | Malawi | 131 | 263 | n/a | n/a |
232 | NEW | International Breweries | Consumer Non-Cyclicals | Nigeria | 284 | 262 | 469 | 14 |
233 | 242 | I&M Holdings | Finance | Kenya | 301 | 260 | 173 | 84 |
234 | 180 | Raubex Group | Industrials | South Africa | 491 | 257 | 714 | 35 |
235 | NEW | Société d’Articles Hygiéniques | Consumer Non-Cyclicals | Tunisia | 221 | 257 | 255 | 10 |
236 | NEW | Press Corporation | Telecommunications | Malawi | 280 | 256 | n/a | n/a |
237 | 238 | Les Eaux Minerales d’Oulmes | Consumer Non-Cyclicals | Morocco | 307 | 256 | 207 | 13 |
238 | NEW | Egyptian Chemical Industries | Non-Energy Materials | Egypt | 241 | 256 | 231 | 34 |
239 | 190 | PPC | Non-Energy Materials | South Africa | 455 | 256 | 624 | 5 |
240 | NEW | Gemfields Group | Non-Energy Materials | South Africa | 281 | 256 | 341 | 57 |
241 | NEW | Nestlé Côte d’Ivoire SA | Consumer Non-Cyclicals | Côte d’Ivoire | 253 | 252 | n/a | n/a |
242 | 183 | Cashbuild | Consumer Cyclicals | South Africa | 471 | 251 | 654 | 28 |
243 | NEW | Flour Mills Nigeria | Consumer Non-Cyclicals | Nigeria | 277 | 250 | 2,804 | 62 |
244 | 224 | Mpact | Non-Energy Materials | South Africa | 335 | 249 | 668 | 39 |
245 | NEW | SBN Holdings | Finance | Namibia | 179 | 249 | n/a | 30 |
246 | NEW | Union Internationale de Banques | Finance | Tunisia | 159 | 243 | 153 | 33 |
247 | 217 | CFAO Motors Côte d’Ivoire | Consumer Cyclicals | Côte d’Ivoire | 354 | 242 | n/a | n/a |
248 | 137 | Arcelormittal South Africa | Non-Energy Materials | South Africa | 759 | 241 | 2,302 | 149 |
249 | NEW | CIEL | Consumer Cyclicals | Mauritius | 262 | 230 | n/a | n/a |
250 | 194 | Cleopatra Hospital | Healthcare | Egypt | 438 | 229 | 85 | 11 |
Original Source: Business Insider Africa