The Africa Report just published their list of top-500 African companies. This ranking is based on turnover (2014 data), and it includes companies operating in Africa whether they are homegrown or multinational affiliates.
To be noted is that Kenya is represented in the top-10 SSA companies while Nigeria has lost representation. Other points (which also applied to last year’s ranking):
- The data are consistent with the fact that 33 % of intra-African investment projects originate in South Africa (see my earlier post “African investments in Africa“);
- West Africa accounts for the majority of large SSA companies, with Nigeria at the helm as the largest economy in Africa (see “From Nigeria to Kenya“);
- The variety of industries in South Africa with large companies explains why companies from other African regions are discouraged from trying to break into those markets;
- The high number of petrol and related companies in West Africa is no surprise given these countries’ dependence on oil (see “Oil: Blessing or curse?”).