The list was compiled by Statista in August 2022.
South African multinationals dominate this list.
The list compiles the most valuable companies in Africa based on their performance in the stock market.
These industry leaders have market shares that rival even the most successful global conglomerates and market capitalization with tremendous value in the stock market.
They do not just create job opportunities for thousands but also contribute substantially to their nation’s GDP growth.
Statista released a report showing the leading companies in Africa in 2022, by market capitalization.
Market capitalization is the value of a company that is traded on the stock market, calculated by multiplying the total number of shares by the present share price.
South African multinational Naspers was the largest company in Africa by market capitalization, with a market value of over almost 50 billion U.S. dollars.
Below are 19 of the most valuable African companies by market capitalization according to Statista;
Naspers: Naspers is a South African multinational internet, technology, and multimedia holding company, situated in Cape Town, South Africa. It has a market capitalization of $49.6 billion for 2022.
Anglo American Platinum Limited is a mining company in South Africa. It is said to be the world’s largest producer of platinum, producing around 38% of the world’s annual supply. It has a market capitalization of $36.4 billion.
First Rand Bank: As the name implies, this is a financial institution based in South Africa. Its market capitalization is $29.7 billion.
MTN Group: This multinational has major branches scattered across numerous markets. It is a telecommunications company and has a market capitalization of $24.5 billion in South Africa.
Standard Bank Group: Yet another South African financial service provider, that’s high on Statista’s list, this bank has a market capitalization of $20.9 billion.
Vodacom Group: Primarily operating in South Africa, this telecommunications company has a market capitalization of $20.1 million.
Capitetec Bank Holdings: This is a South African financial institution with a market capitalization of $18.6 billion.
Sasol: Sasol Limited is an integrated energy and chemical company based in Sandton, South Africa. It has a market capitalization of $15.3 billion.