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Forbes list of 10 largest companies in Africa 2021

The updated Forbes list of largest companies in Africa 2021 is now here. Generally, African companies have slipped a lot down from the 2019 list. The most notable slip is by Standard Bank Group that was listed at number 415 (and 1st in Africa) in 2019 but now occupies the 561 position in the Forbes 2000 list of the world’s largest companies. The largest company in Africa today is Naspers.

This list is determined by various parameters including asset base. Therefore, the largest company may not necessarily be the most profitable company in the world nor the most valuable in the market. The list also comprises only of publicly traded companies. Africa companies have also gone four better by having 22 companies from only 19 in 2019 in the Forbes top 2000 list 2019. All of the additions are from South Africa.

Like all the other years, only five countries are represented in this list:

  • Kenya features one company
  • Egypt features one company.
  • Morocco features 3 companies.
  • Nigeria features 2 companies.
  • South Africa features 15 companies.

1.       Naspers

It is currently the biggest company in Africa, pipping Standard Bank Group that has dropped. Naspers is a global consumer internet group and one of the largest technology investors in the world. It has a market cap of USD 106.1 billion a drop from its valuation of USD 111.3 billion in 2019. Its current assets are worth USD 45.7 billion, a massive growth from the USD 35.8 billion two years ago. It generates revenue worth USD 4.8 billion which is still a drop from the USD 6.9 billion in 2019, with profits worth USD 3.1 billion, a massive dip from the USD 13.5 billion it made in 2019. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 504 dropping from 418. It is based in Cape Town, South Africa.

2.       FirstRand

FirstRand Ltd. Is a registered bank controlling company, which provides banking, insurance and investment products and services. It has a market cap of USD 20.5 billion compared to the USD 27.2 billion in 2019. Its assets are worth USD 132.7 billion growing from the USD 110.5 billion two years ago. It generates revenue worth USD 7.8 billion, a slight rise from the USD 7.6 billion in 2019 and makes profits worth USD 923 million, a massive dip from its USD 2.3 billion profits in 2019. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 534 compared to the 445th position in 2019. It is based in Johannesburg, South Africa.

3. Standard Bank Group

Standard Bank Group Ltd. engages in the business of providing banking and financial services. It has a market cap of 13.7 billion, a drop from USD 22.9 billion in 2019. Its assets in the last two years grew from USD 147.9 billion to USD 172.4 billion. It generates revenue worth USD 10.5 billion a rise from USD 9 billion in 2019, and makes profits worth USD 799.4 million dropping from USD 2.1 billion in 2019. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 561 dropping from position 415 in 2019. It is based in Johannesburg, South Africa.

4.       MTN Group

One of the biggest climbers. MTN Group Ltd. provides network information technology services, local, national and international telecommunications services. It has a market cap of USD 11.7 billion devaluing from USD 13.5 billion in 2019, with assets worth USD 23.8 billion a gain from USD 17 billion. It generates revenue worth USD 10.9 billion a rise from USD 10.2 billion in 2019, with profits worth USD 1 billion a massive gain from the USD 658 million made in 2019. It is based in Roodepoort, South Africa.

5.      Sibanye Stillwater

This is a new entrant in the prestigious list and the highest riser. Sibanye Stillwater engages in precious metals mining services. Its operation areas include the USA, South America, Zimbabwe and South Africa. It has a market cap of  USD 15 billion with assets worth USD 9.1 billion. It generates revenue worth USD 7.7 billion with profits worth USD 1.8 billion. It was founded in 2014 and based in Weltevreden Park, South Africa. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 955. It didn’t feature in the list in 2019.

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6.      Impala Platinum Holdings

This is also a new entrant in the list. Impala Platinum Holdings engages in precious metals mining services. Its operation areas are in the world’s two largest platinum group of metals mines in South Africa and Zimbabwe. It has a market cap of USD 15.6 billion with assets worth USD 8.2 billion. It generates revenue worth USD 6.1 billion with profits worth USD 2.3 billion. It was founded in 1967 and based in Northlands, South Africa. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 1021. It didn’t feature in the list in 2019.

7. Absa Group

Absa Group deals in varied financial markets. It has a market cap of USD 7.4 billion dropping from USD 9.9 billion in 2019. Its has assets worth USD 104.2 billion growing from USD 89.6 billion. It generates revenue worth USD 8.2 billion a slight drop from USD 9.7 billion in 2019, with profits worth USD 357.1 million a massive dip from the USD 1.1 billion made in 2019. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 1109 slipping massively from 661.   It is based in Johannesburg, South Africa.

8. Old Mutual

Old Mutual Plc is an international long-term savings, investment and protection company. It has a market cap of USD 4.4 billion devaluing from USD 8.3 billion in two years, with assets worth USD 63 billion a slight increase from USD 60.7 billion. It generates revenue worth USD 8.9 billion a slight increase from the USD 8.2 billion in 2019, with profits worth negative USD 309.6 million a slight improvement from the negative USD 530.6 million (The company made massive losses in the past financial year) in 2019. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 1316 dropping from 782.  It is based in Cape Town, South Africa.

9. Sasol

Sasol Ltd engages in the manufacture of industrial chemicals. It has a market cap of USD 10.1 billion compared to its value of USD 21 billion in 2019. Its assets are worth USD 27.1 billion dropping from USD 32.8 billion. It generates revenue worth USD 11.1 billion dropping from USD 14.8 billion, and made profits worth USD negative 4.9 billion dipping from USD 1.3 billion in 2019. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 1340 slipping from 530 in 2019. It is based in Johannesburg, South Africa.

10. Sanlam

Sanlam Ltd. provides financial solutions to individual and institutional clients. It has a market cap of USD 8.2 billion dropping from USD 12.4 billion with assets worth USD 63.2 billion a massive gain from USD 55.9 billion. It generates revenue worth USD 7.8 billion a gain from USD 5.8 billion in 2019, with profits worth USD 173.9 million a massive drop from the  USD 877 million made in 2019. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 1395 dropping from 818. It is based in Bellville, South Africa.

11. Nedbank

Nedbank provides varied financial and banking services. It has a market cap of USD 5.1 billion a massive slip from USD 9.4 billion with assets worth USD 83.6 billion rising from USD 72.6 billion in two years. It generates revenue of USD 5.9 billion a dip from USD 7.7 billion in 2019, with profits worth 222.3 million dropping from USD 1 billion. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 1489 a massive drop from 755. It is based in Sandton, South Africa.

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12. Commercial International Bank

This is another company that breaks the domination of South African companies in this list. Commercial International Bank (Egypt) SAE engages in the provision of banking and financial services. It has a market cap of USD 5.1 billion down from USD 6.2 billion in 2019. Its assets are worth USD 27.2 billion up from USD 19.1 billion in 2021. It generates revenue worth USD 3 billion up from USD 2.4 billion, with profits of USD 647.4 million up from USD 538 million. In the Forbes list of 2,000 world largest companies 2021, it ranks at number  1524 up from 1824. It is based in Giza, Egypt.

13. Attijariwafa Bank

Attijariwafa Bank has also slipped several places down from its position two years back. It engages in the provision of international commercial banking services. It has a market cap of USD 9.4 billion an upward valuation from USD 8.7 billion in 2019. Its assets are worth USD 63.8 billion up from USD 53.3 billion. It generates revenue worth USD 4.2 billion up from USD 4.1 billion in 2019, with profits worth USD 318 million down from USD 608 million two years back. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 1554 down from 1143. It is based in Casablanca, Morocco.

14. Safaricom

It is still the only Kenyan company in the list. Safaricom Ltd. is engaged in providing converged communication solutions, which include mobile telecommunication, voice, messaging, data and fixed broadband services. It has a market cap of USD 14.3 billion a massive rise from USD 11 billion in 2019. Its assets are worth USD 2.1 billion a slight gain from USD 2 billion. It generates revenue worth USD 2.5 billion a slight improvement from the USD 2.4 billion in 2019, with profits worth USD 682.8 million up from USD 593 million two years back. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 1566 rising up a few places from 1680. It is based in Nairobi, Kenya.

15. RMB Holdings

RMB Holdings Ltd. operates as an investment holding company. It engages in the retail and commercial banking, investment banking, and installment finance businesses in South Africa and internationally. It has a market cap of USD 191 million a massive dip from the USD 8.3 billion valuation in 2019, with assets worth USD 330 million slipping from the USD 3.6 billion in 2019. It generates revenue worth USD 2 million down from USD 4 billion in 2019 with profits worth USD 2 billion up from USD 741 million in past two years. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 1640 a few positions up from 1764 in 2019. It is based in Sandton, South Africa.

16. PSG Group

PSG Group is also a new entrant to the list. PSG Group engages in diversified financial services. It has a market cap of USD 1 billion with assets worth USD 1.1 billion. It generates revenue worth USD 1 billion with profits worth USD 1.7 billion. It is based in Stellenbosch, South Africa. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 1701. It didn’t feature in the list in 2019.

17. Maroc Telecom

Maroc Telecom SA engages in the provision of telecommunication solutions. It has a market cap of USD 13.7 billion up from USD 13.4 billion. Its assets improved to USD 7.1 billion up from USD 6.5 billion. It generates revenue worth USD 3.9 billion a slight gain from USD 3.8 billion in 2019, with profits worth USD 571.3 billion down from USD 640 million in 2019. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 1724 slipping several places from its 1508 in 2019. It is based in Rabat, Morocco.

18. Zenith Bank

Zenith Bank Plc provides banking and financial services. It has a market cap of USD 1.6 billion a devaluation from USD 1.8 billion in 2019. Its assets are worth 21.5 billion a gain from USD 16.4 billion two years back. It generates revenue worth USD 1.7 billion (same as 2019) with profits worth USD 603.7 million slightly up from USD 534 million in 2019. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 1726 a slight rise from 1961 in 2019. It is based in Lagos, Nigeria.

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19. AngloGold Ashanti

AngloGold Ashanti is another new entrant on the list. It engages in precious metals (gold) mining and exploration services. It has a market cap of USD 9.3 billion with assets worth USD 7.7 billion. It generates revenue worth USD 4.4 billion with profits worth USD 951.8 million. It was founded in 1944 and based in Johannesburg, South Africa. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 1776. It didn’t feature in the list in 2019.

20. Banque Centrale Populaire

Banque Centrale Populaire SA operates as a commercial bank. It has a market cap of USD 5.8 billion up from USD 5 billion in 2019, with assets worth USD 49.9 billion up from USD 41.4 billion two years back. It generates revenue worth USD 2.7 billion up from USD 2.4 billion with profits worth USD 129.5 million down from USD 313 million in 2019. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 1953 slipping from position 1855 in 2019. It is based in Casablanca, Morocco.

21. Dangote Cement

Dangote Cement Plc engages in the preparation, manufacture, control, research and distribution of cement and related products. It has maintained its place to avoid dropping from the list. It has a market cap of USD 9.1 billion slightly up from USD 9 billion in 2019. Its assets are worth USD 5.1 billion a slight gain from USD 4.7 billion in 2019. It generates revenue worth USD 2.7 billion slightly up from USD 2.5 billion, with profits worth USD 720.7 million down from USD 1.1 billion in 2019. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 1963 down from 1530 two years ago. It is based in Lagos, Nigeria.

22. Gold Fields

Another entrant is the Gold Fields company that deals in mining gold. Its operation areas include the Australia, Ghana, Peru and South Africa. It has a market cap of USD 8.9 billion with assets worth USD 7.5 billion. It generates revenue worth USD 3.9 billion with profits worth USD 718.1 million. It was founded in 1968 and based in Johannesburg, South Africa. In the Forbes list of 2,000 world largest companies 2021, it ranks at number 1999. It didn’t feature in the list in 2019.

Companies that fell off the Forbes 2000 list

Shoprite Holdings

Shoprite Holdings Ltd. engages in the operation retail stores. It had a market cap of USD 7 billion with assets worth USD 4.7 billion. It generated revenue worth USD 11 billion with profits worth USD 343 million. In the Forbes list of 2,000 world largest companies, it ranked at number 1881 in 2019. It is based in Brackenfell, South Africa.

Bid

Bid Corp. Ltd. is an international broadline food services company, which engages in the development economies in all continents other than North America. It had a market cap of USD 7.2 billion with assets worth USD 4.4 billion in 2019. It generated revenue worth USD 9.4 billion with profits worth USD 252 million then. It is based in Johannesburg, South Africa.