African stock exchanges are relatively smaller compared to other continents. Consequently, listed firms are not as big as the behemoths listed on major stock exchanges in the UK, US, Hong Kong or Japan.
All the same, Africa has its fair share of fast-growing companies. The stock markets on the continent have also been expanding over the years, giving the public an opportunity to own stake in listed firms.
All the top 10 largest companies in terms of market capitalisation are based in South Africa, The rainbow nation is undeniably the most industrialised country in Africa, and recently reclaimed the biggest economy title.
This is not to mean that there are no other companies that might be bigger that the ones featured. Market capitalisation is the market value of a listed company, calculated by multiplying the share price and outstanding shares.
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1. Nasper
South African media and internet company Naspers in the largest company in Africa by market capitalisation. It ranks at position 503 in the world. The company, founded in 1915, holds stake in media publishing and internet interests.
Unlike most media companies in Africa that have struggled to pivot their business models, Naspers diversified its interest in 1980s. The company is why of the largest shareholders in Tencent, a Chinese tech giant.
2. FirstRand
FirstRand is the second biggest company in Africa and one of the largest banks. The bank has a rich history, having been founded in 1938. Today, the bank has retail and commercial banking services.
It also offers asset management, insurance and investments services. The also has operations in Guernsey, UK and India.
3. Standard Bank Group
Standard Bank Group is another African lender with a long rich history. The bank was founded in 1862. The lender is cross listed on the London Stock Exchange (LSE) and the Johannesburg Stock Exchange (JSE).
The bank has operations in over 15 African countries including South Africa, Kenya, Nigeria and Democratic Republic of Congo (DRC).
4. MTN Group
MTN Group featuring in this list comes as no surprise. The company is the eight largest telecommunication firm globally. It boasts of over 280 million subscribers. With its headquarters in Johannesburg, South Africa, the company has operations in 20 other African countries and the Middle East.
Unlike the first three companies on the list, MTN Group is relatively young, having been founded in 1999.
5. Gold Fields
Gold Fields is a South African gold mining company founded in 1887. The company is cross listed on JSE and NYSE, with major operations in South Africa, Australia and Ghana. The company has its main offices in South Africa and New York.
6. Vodacom
Vodacom is the second telco on the list. The company which is partly owned by British telecommunication company Vodafone, is listed on the JSE. Vodafone owns over 60% stake in the company.
It also operates in other African countries including Tanzania and the DRC. It also owns a stake in Safaricom, the biggest company on East Africa.
7. AngloGold Ashanti
The seventh largest company in Africa is one of the leading gold exploration and mining companies in the world. The company has presence not only in South Africa but also Australia, Ghana, Brazil, and Argentina. The company is listed on JSE and Ghana.
8. Capitec Bank
Retail bank Capitec is the eighth biggest company in Africa. The bank was founded in 2001 and has grown over the years to become a trusted brand for South Africa’s middle class. The company is based in Stellenbosch, South Africa.
The bank’s rise to the top was on the back of cheaper service cost and simplification of the banking process. Today, the bank has over 20 million retail customers, making it one of the largest lenders in Africa.
9. Sasol
Founded in 1950, Sasol Limited is a chemical company with operations in South Africa and the United States. It also has footprints in 28 other countries. The company is listed on NYSE and JSE.
10. Bidcorp
Bidcorp is a food and beverage distribution company listed on the JSE. The company has operations across five continents, making it the only company on the list with a big footprint.
