This archive report was first published on 19 May 2020.
Published on May 19, 2020, African Business Magazine's annual survey has seen Safaricom climb the rankings of Africa's top 250 companies this year, from position 14 to 10.
South Africa dominates the rankings with 9 firms on the top list, followed by Egypt and Morocco in second and third place respectively.
Prosus, a tech firm, tops the list with a market capitalization of $119,141 million, followed by Naspers, a media firm, and Financiere Richemo, a dealer in luxury goods.
Anglo American, a metals and mining company, and Vodacom Group are among the top 10 companies in Africa, with Safaricom coming in at position 10.
East Africa is represented by several companies, with Safaricom being the most profitable firm in the region, with a net income of $598 million.
Other notable companies in East Africa include Tanzania Breweries, Equity Holdings, and East Africa Breweries.
Despite Safaricom's growing dominance, Kenya lost three entries to the list, with a combined market capitalization of $16 billion, down from $21 billion last year.
