The top 500 companies in Africa

 

Jeune Afrique, a French-language pan-African weekly news magazine, has unveiled the list of the top 500 most important companies in Africa. Jeune Afrique revealed the ranking of the top 500 companies on the African continent that have the best-taken advantage of business opportunities in the 2021 financial year. Africa has various financial institutions and South Africa has various young entrepreneurs. 

Sonatrach, the national state-owned oil company of Algeria, has topped the list of the top 500 companies in Africa. The company reached a turnover of 34 billion dollars and a net result of more than 5.5 billion dollars. The largest company in Africa with 154 subsidiaries witnessed a dollar increase of 75% in its export activity. 

Sonangol, the second-largest oil producer on the African continent, is the 12th most important company in Africa, according to Jeune Afrique. However, it witnessed a drop in production of around 10% in 2021.

South Africa has around 8 important companies in the African continent. The 8 South African companies are present in the Top 10 list and almost 50% of the revenues of the Top 500. Egyptian, Nigerian, Moroccan, and Algerian companies have also performed well. 

Related Posts

Airtel Africa from Nigeria, ENI Angola, Société Marocaine de Distribution from Morocco and Sodiam from Angola are new entrants in the top 100 list. 

Almost all countries on the African continent witnessed positive growth in 2021. Rwanda witnessed a growth of 10.9%, Morocco witnessed an increase of 7 .9%, Côte d’Ivoire witnessed a GDP growth of 7.4%, Kenya also saw a positive growth of  7.5% and the Democratic Republic of Congo (DRC) witnessed a growth of  6.2%. 

According to the African Development Bank (AfDB), the African continent’s GDP jumped in 2021 by 4.8%, including 4.5% for Sub-Saharan Africa.


Comments

Post a Comment

Popular posts from this blog

Dr. Sultan Al Jaber Addresses Climate Goals and Finance Commitments at Africa Climate Summit 2023

Image
Dr. Sultan Ahmed Al Jaber, the Minister of Industry and Advanced Technology of the UAE and the CEO of ADNOC, played a key role in the Africa Climate Summit 2023 held at the Kenyatta International Convention Centre in Nairobi, Kenya. The summit, attended by African presidents, focused on climate change and environmental priorities. Dr. Al Jaber, set to preside over the upcoming COP28 summit in the UAE, emphasized the urgent need for global collaboration to address the growing challenges posed by climate change. During the summit, Dr. Al Jaber acknowledged the world's insufficient progress in meeting climate goals. He urged collective action and collaboration among African leaders to effectively combat the climate crisis. As the chairman of Masdar, Abu Dhabi Future Energy Company, he called for a transformation in global climate financing to achieve tangible results in the fight against climate change. In a significant commitment, Dr. Al Jaber announced that the UAE pledges $4.5 bil
Read more

With Emirati Mediation, a prisoner swap agreement was reached between (Russia and Ukraine).

Image
  The success of the prisoner exchange between Russia and Ukraine, mediated by the United Arab Emirates (UAE) , is attributed to Abu Dhabi's robust diplomatic ties with both Moscow and Kiev, according to a statement from the UAE Foreign Ministry. The statement, published on the ministry's website, highlighted the positive outcome as a testament to the strong and friendly relations between the UAE and both the Russian Federation and the Republic of Ukraine. It underscored the sustained efforts at the highest levels, resulting in one of the most significant exchanges of captives since the war's inception. Expressing gratitude, the UAE extended thanks to the Russian and Ukrainian governments for their cooperation and responsiveness to the mediation efforts, acknowledging the challenges presented by the ongoing conflict. The UAE reaffirmed its commitment to ongoing efforts for a peaceful resolution to the Ukrainian conflict. Additionally, it called for de-escalation and advocat
Read more

UAE’s Masdar 10GW Growth Plan Is A Boon For Africa

Image
  Masdar, a renewable energy company owned by the United Arab Emirates government, has unveiled a 10-gigawatt expansion initiative for the African continent. This ambitious plan is poised to catalyze the energy transition in six Sub-Saharan nations. Abu Dhabi Future Energy Company PJSC, operating under the name Masdar, is committed to fostering the development of clean energy initiatives throughout Africa. The 10-gigawatt growth initiative aligns with the Africa Green Industrialization Initiative, a program designed to stimulate the growth of environmentally sustainable industries across the region. Launched on December 2, the Africa Green Industrialization Initiative (AGII) aims to expedite the advancement of green industries and businesses throughout the African continent. The United Arab Emirates has continuously extended assistance to Africa in its energy-related undertakings. Furthermore, the UAE has promised to support clean energy projects in Kenya, Angola, Burundi, Djibouti, Gh
Read more