South Africa’s multinational telecommunications company, MTN Group, has been listed as the biggest company in Sub Saharan Africa (SSA) by market capitalisation, according to the latest monthly market report by AfricanFinaicials.
The report is a compilation of the most valuable brands by analysts to help investors who use the market capitalisation information to obtain a quick estimate of a company’s overall value.
In the report titled “Sub-Sahara Africa Top 30 Companies”, MTN Group had the highest market capitalisation among other companies in the region, followed by East Africa’s largest network operator, Safaricom. Dangote Cement ranked third on the list, followed by MTN Nigeria, a subsidiary of MTN Group, and Airtel Africa.
The report highlighted BUA Foods (Nigeria) and Access Bank (Nigeria) as new entrants in the Top 30 list, replacing Jumia Technologies and Ireland Blyth. Furthermore, the report stated that seven sub-Saharan African stock markets had positive year-to-date US$ returns as of 31 January 2022. These markets are: Nigeria 8.6%, Zimbabwe 6.1%, Tanzania 2.4%, Mauritius 1.8%, Seychelles 1.7%, Botswana 1.6%, Namibia 0.3%.
Here are the Top 30 companies in Sub-Sahara Africa by market capitialisation as of January 2022.
| COMPANY | MARKET CAPITALISATION – US $ (Millions) |
|---|---|
| MTN Group | 23,401 |
| Safaricom | 13,014 |
| Dangote Cement | 10,733 |
| MTN Nigeria | 9,716 |
| Airtel Africa | 7,762 |
| BUA Cement | 5,791 |
| Endeavour Mining | 5,663 |
| IHS Towers | 3,924 |
| BUA Foods | 2,802 |
| Nestle Nigeria | 2,749 |
| SONATEL | 2,388 |
| Vivo Energy | 2,270 |
| MTN Ghana | 2,174 |
| Helios Towers | 2,080 |
| Zenith Bank | 1,977 |
| GTB | 1,913 |
| Zimplats | 1,894 |
| MCB | 1,815 |
| AVZ Minerals | 1,752 |
| Equity Bank | 1,646 |
| Tanzania Breweries | 1,392 |
| KCB Bank | 1,271 |
| EABL | 1,149 |
| MTN Uganda | 1,127 |
| Seplat Energy | 1,123 |
| Stanbic IBTC | 1,120 |
| First Bank Nigeria | 998 |
| Lafarge Africa | 997 |
| Nigerian Breweries | 936 |
| Access Bank | 851 |
