Africa
THE Africa Report just published the latest edition of its ranking of the 500 largest companies in Africa
Thanks to a methodology fine-tuned over more than 20 years of publication, The Africa Report now offers a precise and exhaustive vision of the African corporate landscape, covering all geographical zones and all sectors of activity. The TOP500 highlights the remarkable performance of African companies, despite global turbulence and currency crises. It is an unvaluable resource for understanding the vitality and resilience of the African economy.
A record milestone was reached with this ranking, with companies achieving cumulative sales of $760 billion, a 14.1% increase over the previous year.
The energy, mining, tourism, and air transport sectors stood out, illustrating the continent’s robust growth momentum, despite a global context marked by rising international tensions and stubborn inflation. The recent surge in hydrocarbon prices enabled companies operating in this sector to dominate the top of the ranking, thanks to their exceptional performance. They contributed significantly to the record increase in cumulative sales of the top 500 companies.
As a traditional leader, South Africa continues to dominate the ranking with a major contribution to cumulative sales, reflecting the robustness of its economy. However, an interesting trend is emerging, with West Africa gaining ground and increasing the number of its companies in the ranking. This development suggests an economic rebalancing and highlights the rise of new power relations on the continent, attesting to Africa’s dynamic growth and economic diversification.
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-March 23, 2024 @ 15:27 GMT|
Tags: Africa Report Africa's top 500 companies
