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Friday, August 14, 2020

Most valuable companies in Africa: Safaricom ranked among top 10

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Most valuable companies in Africa: Kenya’s leading telecommunications company, Safaricom  has been ranked as the tenth most valuable firm in Africa in this year’s top 250 companies in Africa 2020. This was jump from the fourteenth position that the company got last year. Currently, Safaricom has a market capitalization of around Sh. 1.06 trillion. The firm is the most profitable in the East African region.

According to ranking that was done by the African Business Magazine, Only four Kenyan-based firms, including East African Breweries Limited, Equity and KCB Group were ranked among the top 100 most valuable companies in Africa. Companies based in South Africa dominated the top ten list of the most valuable companies in Africa with eight companies. Morocco-based telecom and Kenya’s Safaricom were the only non-South African firms in the top ten list.

Safaricom to notify you if someone tries to register new line with your ID

Other Kenyan companies that featured in the ranking were Equity Group, East African Breweries, KCB group, Cooperative bank, Standard Chartered, British American Tobacco, Ken Gen, Diamond Trust Bank and NCBA(formerly NIC).

Equity Group ranked number 82. It jumped four positions from last year(86) with a market share value of US$1.16 billion (Sh. 147.74 billion).

East African Breweries fell from 84 to position 90, still maintaining its rank within the top 100 with a market capitalization of USD$ 1.08 billion (Sh. 134.83 billion).

KCB Group, the owning company of Kenya Commercial Bank (KCB) hopped from position 98 to 92 with a market capitalisation of US$ 999 million (Sh. 134.80 billion).

Cooperative Bank ranked as Kenya’s fifth and Africa’s 110th with a market value of US$690 million (Sh. 77.153 billion).

Standard Chartered Kenya jumped 30 positions from 150 last year to 120 with its total market value of US$592 million (Sh. 61.316 billion).

I&M holdings ranked as Kenya’s seventh most valuable company with a market capitalization of US$ 412 million (Sh. 42.374 billion). The company jumped from 200 last year to 158.

British American Tobacco ranked as Kenya’s eighth most valuable company and Africa’s 178. With a market capitalisation of US$340 million (Sh. 35.02 billion), the company maintained its last year’s position.

Electricity generating company KenGen was Kenya’s ninth most valuable and public listed company with a total value of US$305 million (Sh. 32.313 billion). KenGen rose from 231 last year to 190 in the list of Africa’s most valuable companies.

Diamond Trust Bank and NCBA featured as 225 and 228 consecutively in the list.

The ranker relied on the latest financial statements posted by the companies and other rankings by financial researcher Bloomberg.

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