Business in Africa is changing, highlighted by new companies in entertainment, health, construction and food entering the top continent’s top business ranking. Although mining, financial services and telecoms still take most of the top spots in Africa’s Top 250 Companies 2019, measured by value, Africa’s biggest company is a forward-facing global media giant, Naspers which just announced plans to spin off some holdings this year and create Europe’s largest listed consumer Internet company. Another trend is that companies in several of the fast-growing African economies are eating into the number of South African firms in the top ranking, which although they are still dominant make up a little under half the companies featured. Biggest gains go to Egyptian companies whose number in the top 250 ranking rises to 39, from 34 last year. Zimbabwe has nine companies, up from five last year, and Kenya added two to total 14 companies. A Mozambican brewery and a Malawian telco also joined the ranking. Ranking in the Top 250 Companies report is according to the value of shares listed on a stock exchange (“market capitalisation”), expressed in US dollars at 31 March 2019, although many exchanges closed trading on Friday 29 March.
SOURCES: AFRICAN BUSINESS MAGAZINE