MTN Group is the Godfather amongst other companies in SSA in terms of market capitalization, here’s the top 20   


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.


COMPANY

MARKET CAPITALISATION - US $ (Millions)

MTN Group

23,401

Safaricom

13,014

Dangote Cement

10,733

MTN Nigeria

9,716

Airtel Africa

7,762

BUA Cement

5,791

Endeavour Mining

5,663

IHS Towers

3,924

BUA Foods

2,802

Nestle Nigeria

2,749

SONATEL

2,388

Vivo Energy

2,270

MTN Ghana

2,174

Helios Towers

2,080

Zenith Bank

1,977

GTB

1,913

Zimplats

1,894

MCB

1,815

AVZ Minerals

1,752

Equity Bank

1,646

Tanzania Breweries

1,392


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