This archive report was first published on 19 May 2020.
Safaricom Ranks Among Africa's Top 10 Most Valuable Companies ¶
Kenya's leading telecom, Safaricom Plc, has secured a spot among the top 10 most valuable companies in Africa, ranking tenth in the top 250 companies in Africa 2020, as per African Business Magazine's latest ranking.
Published on May 19, 2020, the ranking saw South African firms dominating the top 10 list, with eight companies featured. Safaricom, along with Morocco-based telecom, was the only non-South African company among the top 10.
With a market capitalization of US$9.96 billion (approximately Sh. 1.06 trillion), Safaricom jumped four spots from its position in last year's ranking, from 14 to 10.
Other Kenyan companies that made it to the list include Equity Group, East African Breweries, KCB Group, Cooperative Bank, Standard Chartered, British American Tobacco, KenGen, Diamond Trust Bank, and NCBA (formerly NIC).
Equity Group ranked 82nd, jumping four positions from last year's 86th spot, with a market value of US$1.16 billion (approximately Sh. 147.74 billion).
East African Breweries fell from 84 to 90, maintaining its position within the top 100 with a market capitalization of US$1.08 billion (approximately Sh. 134.83 billion).
KCB Group, the parent company of Kenya Commercial Bank (KCB), jumped from position 98 to 92 with a market capitalization of US$999 million (approximately Sh. 134.80 billion).
Cooperative Bank ranked as Kenya's fifth and Africa's 110th with a market value of US$690 million (approximately 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 (approximately Sh. 61.316 billion).
IM Holdings ranked as Kenya's seventh most valuable company with a market capitalization of US$412 million (approximately Sh. 42.374 billion), jumping from 200 last year to 158.
British American Tobacco ranked as Kenya's eighth most valuable company and Africa's 178th with a market capitalization of US$340 million (approximately Sh. 35.02 billion), maintaining 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 (approximately Sh. 32.313 billion), rising from 231 last year to 190 in the list of Africa's most valuable companies.
The ranking relied on the latest financial statements posted by the companies and other rankings by financial researcher Bloomberg.
