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Top 10 best-performing local companies in Sub-Saharan Africa

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Justin Norris

Dec 28, 2023

Showcasing Excellence and Innovation in the Sub-Saharan Business Landscape



Exploring the business landscape of Sub-Saharan Africa reveals a dynamic and diverse array of companies that are leading the region's economic growth. This analysis highlights the top ten best-performing local companies in this region, showcasing their unique strengths and contributions to the local and global markets.

  1. MTN Group (South Africa): As the apex telecommunication company in Sub-Saharan Africa, MTN Group boasts a remarkable market capitalization of $17.7 billion. With over 230 million subscribers worldwide, MTN Group is not just the largest mobile network operator in Africa but also ranks seventh globally.

  2. Safaricom (Kenya): With a market capitalization of $15.2 billion, Safaricom leads Kenya's telecom sector. The company is renowned for its mobile money transfer service, M-Pesa, and is celebrated as the best employer in Africa according to Forbes.

  3. Dangote Cement (Nigeria): Dangote Cement, with a market capitalization of $11.5 billion, is not only the largest publicly traded company in Nigeria but also has a significant presence across the African continent.

  4. MTN Nigeria (Nigeria): A key subsidiary of MTN Group, MTN Nigeria holds a market capitalization of $8.6 billion. Despite regulatory challenges, it continues to be a major player in the Nigerian telecom sector.

  5. BUA Cement (Nigeria): BUA Cement, with a market cap of $5.4 billion, has rapidly grown since its inception in 2008, becoming Nigeria's second-largest cement producer.

  6. Airtel Africa (United Arab Emirates): Formerly headquartered in Nairobi, Kenya, Airtel Africa is a subsidiary of the Indian communication giant Bharti Airtel. With a market capitalization of $5.05 billion, it operates in 14 African countries.

  7. Nestle Nigeria (Nigeria): As a subsidiary of the global food and beverage company Nestle, Nestle Nigeria holds a market cap of $2.8 billion and is one of Africa's leading food and beverage companies.

  8. MTN Ghana (Ghana): Another MTN Group subsidiary, MTN Ghana, has a market capitalization of $2.5 billion and is a pioneering force in Ghana's telecom industry.

  9. Helios Towers (Mauritius): Based in Mauritius and operating in Africa and the Middle East, Helios Towers provides telecom tower services and holds a market cap of $2.4 billion.

  10. Sonatel (Senegal): Sonatel, the primary telecommunication service provider in Senegal, has a market cap of $2.3 billion and offers a range of services including mobile and fixed-line telephony.


These companies not only exemplify financial success but also demonstrate the diverse range of sectors contributing to Sub-Saharan Africa's economic resilience and growth. From telecommunications to cement and food and beverage, each company plays a pivotal role in shaping the economic landscape of the region. The success of these companies, especially during challenging times like the COVID-19 pandemic, where many adopted work-from-home strategies to protect their employees, underscores the adaptability and resilience of businesses in Sub-Saharan Africa.


For a more detailed exploration and insights into the top-performing companies in Sub-Saharan Africa, you can refer to the original articles on African Financials, Pulse Ghana, and Labour.Watch.

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