Top 10 Biggest Companies In Africa Based on Market Capitalization (2024 Report)

The market capitalization, or Marketcap, of a public company shows how much it is worth. Usually, all you have to do to figure it out is multiply the share price by the number of shares that are still available.

In today's multipolar world, Africa is no longer a place that can be exploited. It's more of a hub for business and investment activities. The US, Europe, and China are all aware of this fact. Chinese companies are putting a lot of money into building important transportation and network infrastructure all over Africa. A long time ago, people only thought of Africa when they thought of war, poverty, Ebola, and diamond mines. The young people in Africa today are smart and going in the right direction. They are putting out software and apps, starting big businesses, and going into business for themselves.

Africa already has 1.2 billion people living there, but by 2030, it's expected to have more than 500 million more. According to researchers at the Brookings Institute, Africa is the continent that is urbanizing the fastest, with over 80% of this growth happening in cities. This means that African companies will have to compete with and do better than companies in Europe and the United States, like eBay (NASDAQ: EBAY), Amazon (NASDAQ: AMZN), and Walmart (NYSE: WMT).

Here, we'll examine the top ten African businesses in terms of valuation worldwide.

Top 10 Largest Companies In Africa By Market Capitalization Today

Top 10 Largest Companies In Africa By Market Capitalization

1. DELTA CORPORATION LIMITED

Sector: Consumer Non-Cyclicals

In Zimbabwe, Delta Corporation Limited produces and sells cold drinks. The business is divided into four segments: Wines and Spirits, Sparkling Beverages, Sorghum Beer, and Lager Beer. It offers imported brands like Castle 1895 Draught, Castle Milk Stout, Carling Blue Label, Redds, and Flying Fish; sorghum beers under the Chibuku, Chibuku Super, and Thabani brands; and lager beers under the Castle Lager, Castle Lite, Golden Pilsener, Lion Lager, Carling Black Label, Zambezi Lager, Bohlinger's Lager, and Eagle Lager brands.

Along with bottling carbonated sparkling drinks and non-carbonated cordials, the company also maintains and provides primary and secondary distribution vehicles, 23 heavy vehicle workshops, 23 delta beverage centers, and 2 customer collection depots for the distribution of beverage products. It also produces wines and spirits, makes PET, injection, and blow molded plastic products, provides plastic packaging, tin cans, and crown corks, recycles PET plastics, and engages in training and leadership development. In addition, it malts barley and sorghum.

In addition, the company offers non-alcoholic beverages and distributes starches and glucose in bulk. In 1978, the business changed its name from Rhodesia Breweries Limited to Delta Corporation Limited. The company's headquarters are in Harare, Zimbabwe, where it was established in 1898.

2. NASPERS LIMITED

Sector: Consumer Non-Cyclicals

Having a market capitalization of US$28.57 billion, Naspers is the largest company in South Africa when it comes to internet services.

According to the company, it is among the world's biggest investors in technology. Apart from running its own businesses, it also makes investments in start-ups that it helps grow into bigger businesses.

Prosus and Media24 are the other two of Nasper's three primary businesses. Prosus manages the business's online activities outside of South Africa, encompassing social media, payments, fintech, and food delivery.

Africa's top media group, Media24 offers a range of traditional and digital publications along with e-commerce. Takealot, the biggest online retailer in South Africa, is a part of the latter.

3. FIRSTRAND LIMITED

Sector: Finance

FirstRand, one of the biggest banking groups in the nation, is a major contributor to the financial sector of the country through its operations in retail banking, investment banking, and asset management.

FirstRand's market value is $19.68 billion as of April 2024. Based on our data, this places FirstRand as the 1015th most valuable company in the world by market cap. A publicly traded company's total market value of its outstanding shares is its market capitalization, also known as its market cap. This figure is frequently used to determine the value of the company.

4. STANDARD BANK GROUP LIMITED

Sector: Finance

With a $17.78 billion market capitalization, Standard Bank Group is yet another formidable force in the South African banking sector. With operations in multiple African nations, the group's reach transcends national boundaries. The Standard Bank Group's wide range of financial services significantly contributes to the facilitation of economic development.

The company generated $9.24 billion in revenue in 2022, up from $8.34 billion in revenue in 2021.The total income a business receives from the sale of goods or services is known as revenue. In contrast, no expenses are deducted from earnings.

5. GOLD FIELDS LIMITED

Sector: Non-Energy Materials

The activities of Gold Fields Ltd., a gold mining company, include both mine operations and gold production. Its active mines are situated in South Africa, Ghana, Australia, and Peru. The company's headquarters are in Johannesburg, South Africa, and it was established on May 3, 1968.

Copper and gold are produced by Gold Fields Ltd. (Gold Fields). The business engages in exploration, extraction, processing, and smelting, among other activities.

Gold Fields' market value is $13.57 billion as of April 2024. A publicly traded company's total market value of its outstanding shares is its market capitalization, also known as its market cap. This figure is frequently used to determine the value of the company.

6. CAPITEC BANK HOLDINGS LIMITED

CAPITEC BANK HOLDINGS LIMITED

Sector: Finance

With a market valuation of US$12.73 billion, Capitec Bank is a sizable bank holding company that is ranked fifth in South Africa. The Stellenbosch-based company was founded in 2001 and has 852 branches nationwide, providing retail and commercial banking as well as insurance services to almost 15 million clients.

The financial institution Capitec Bank is expanding quickly and has become well-known for providing accessible and creative banking services. Recognized for emphasizing affordability and simplicity, Capitec has grown in popularity among South African buyers.

7. VODACOM GROUP LIMITED

Sector: Telecommunications

Located in South Africa, Vodacom Group is a publicly traded mobile communications company. Senior Alan Knott-Craig founded it in 1994. Its main office is in Johannesburg, South Africa's Gauteng province. It operates exclusively in Africa. Operating in nations such as Tanzania, Lesotho, Mozambique, and the Democratic Republic of the Congo, it offers business services to clients in 32 African nations. Nigeria, Ghana, Zambia, Côte d'Ivoire, Kenya, and Cameroon are a few of the nations. It generates R86.370 billion in revenue annually (US$6.48 billion, 2018 estimate) and employs roughly 7,554 people. With a projected market share of 58%, it is the top cellular network in South Africa right now.

8. ATTIJARIWAFA BANK SA

Sector: Finance

In addition to banking, Attijariwafa Bank SA (ABS) provides other associated financial services. Personal, business, investment, real estate, and international banking solutions are all included in its offering. In addition, the bank provides customer credit, insurance, leasing, factoring, mortgage, property management, portfolio management, investment funds, online trading, remote banking, money transfer, equipment services, and alternative financial services. ABS provides individuals, professionals, and corporate clients with goods and services via a network of branch offices, representative offices, ATMs, and online portals. The bank has operations in Central Africa, West Africa, North Africa, Europe, and the Middle East. The headquarters of ABS are in Casablanca, Morocco.

9. ANGLO AMERICAN PLATINUM LIMITED

Sector: Non-Energy Materials

The largest producer of natural platinum in the world is Anglo American Platinum Corporation. It is one of the top producers of platinum group metals worldwide. In addition, it mines precious metals like gold as well as base metals like nickel and copper. With its headquarters in Johannesburg, the company has roughly 30,000 employees.

In 1946, the business was incorporated. They are accountable for approximately 38% of the global platinum supply on an annual basis. The company is headquartered in South Africa, and the Bushveld Igneous Complex in Johannesburg is where most of its main operations are conducted. The company, which is owned by Anglo America, is known to use an environment that is rich in platinum as well as other elements like chromium, vanadium, titaniferous magnetite, and other platinum group metals. As of 2018, the company's annual turnover was estimated to be R74.58 billion. The company employed 24790 people at the end of the 2018 fiscal year.

10. KUMBA IRON ORE LIMITED

Sector: Non-Energy Materials

Kumba Iron Ore is a Centurion-based company that produces high-grade iron ore, an essential ingredient in steel. With a market valuation of US$9.16 billion and a ranking of tenth, the company engages in every stage of the process, including mining, processing, marketing, and exploration.

In 2005, Kumba Iron Ore became a corporation. It is a South African mining company that specializes in iron minerals. It is reportedly the largest iron metal producer in Africa and the fourth largest producer worldwide. It is located in South Africa's Northern Cape Province. It is thought to be among the world's largest open pit mines. Its mining operations involve opencast digging. According to reports, the mine dance plant is the largest of its kind on Earth. The Anglo America Corporation, along with two or three minority partners, jointly own the organization.

Full List of Africa’s Largest Companies by Market Capitalization

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