4 March 2022: AfricanFinancials released a monthly report where they compared companies in Sub-Saharan Africa solely based on their market capitalization. In this report, South Africa’s largest telecom company MTN Group came out to be the winner.Market Capitalization helps make an estimate of the company’s overall value. East Africa’s largest telecomm Safaricom followed suit and was a close second, while the behemoth cement group Dangote Cement ranked third on the list. MTN Nigeria followed by Airtel Africa comprised of the top 5.

The report pointed out that BUA Foods (Nigeria) and Access Bank (Nigeria) were new entrants in the Top 30 list, replacing Jumia Technologies and Ireland Blyth. Furthermore, the report stated that seven sub-Saharan African stock markets had positive year-to-date US$ returns as of 31 January 2022. These markets are: Nigeria 8.6%, Zimbabwe 6.1%, Tanzania 2.4%, Mauritius 1.8%, Seychelles 1.7%, Botswana 1.6%, Namibia 0.3%.

Here are the Top 20 companies in Sub-Sahara Africa by market capitalization as of January 2022.