Top 20 Richest Companies In East Africa 2024

Big companies make big profits, but which companies in East Africa today makes the most?.

Here is a ranking of over 20 Richest and Most Valuable companies in East Africa as of this year, with respect to their Net Worths and Market cap.

There are many different ways to measure wealth, and there are many different ways to rank companies by their wealth.

However, when looking at the wealthiest companies in EA, a few stand out from the rest. Here is a list of the top 20 richest companies in East Africa, based on their total assets.

Richest and Most Valuable Companies In East Africa:

1. Safaricom, Kenya

Safaricom, Kenya’s largest telecommunications network provider, was established in 1997. Since then, the company has expanded to over 35.6 million subscribers and is currently worth around Ksh.68.6 billion net income.

It is also one of 1200 companies in the global GSM Association. Their primary competitors include Airtel, Liquid Intelligent Technologie, MTN and Telkom, and many more.

2. Tanzania Breweries

Tanzania Breweries Limited is the leading brewer in Tanzania. The company, founded in 1933, produces a variety of beers, including CastleLager, Kilimanjaro Lager, and Safari Lager.

They also make soft drinks and bottled water. The company is currently worth $412.3 million. Their closest competitors are Serengeti breweries.

3. Equity Group Holdings Kenya

Equity Group Holdings is a Kenyan financial services company. The company, founded in 1984, provides various services, including retail banking, microfinance, and related services.

Their most significant shareholder is Price BV Norway and Netherlands. The company had Ksh. 1.119 trillion worth of assets in 2021.

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4. KCB Group Kenya

Kenya Commercial Bank Group is one of the largest banking institutions in Eastern Africa. It operates in Kenya, Uganda, Rwanda, Burundi, Tanzania, and South Sudan.

The group has over 6 million customers and controls assets worth $6 billion. In 2015 it was reported in the media  that the group intended on expanding to the Democratic Republic of Congo, Ethiopia, and Mozambique.

5. East African Breweries Kenya

East African Breweries is a Kenyan brewing company.

The company was founded in 1922 and is currently the largest brewer in East Africa, producing brands such as Tusker, Pilsner, Allsoaps, Waragi, and many more. The company is worth over Ksh.86 billion.

6. Vodacom Tanzania

Vodacom Tanzania is a telecommunications company based in Dar es Salaam, Tanzania.

It was founded in 1999 and is a subsidiary of Vodacom Group. The company has over 15.98 million subscribers and is worth $ 193.21.

7. Tanzania Cigarette Co, Tanzania

Tanzania Cigarette Company Limited (TCC) is a tobacco processing company based in Tanzania.

The company was established in 1961 and began trading on the Dar es Salaam Stock Exchange (DSE) in November 2000. It trades under the symbol TCCZ on the DSE and is worth TZS.68.9 billion.

8. Co-operative bank of Kenya

The Co-operative Bank of Kenya is the largest financial institution in Kenya, with over half a million customers and $ 3.9 billion in assets.

The Coop bank was founded in 1966 and is currently headed by Acting CEO Nick Slape.

9. NMB Bank Limited Tanzania

National Microfinance Bank Limited is a Tanzanian financial services company.

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The company, NMB Bank Limited Tanzania was established in 2005 and operated as a subsidiary of NMB Holdings Plc, based in the Netherlands. The bank trades under the symbol: NMB and is worth $2.212 billion.

10. Standard Chartered Bank of Kenya

Standard Chartered Kenya, a subsidiary of Standard Chartered PLC, is one of the leading banks in Kenya.

The commercial bank was founded in 1910 and is currently headed by Managing Director Kariuki Ngari. It has over 3 million customers and $2.539 billion in assets.

Here are other East African Firms that are in the top list of the Most Valuable and Richest Companies in East Africa today.

11. Co-operative Bank Of Kenya

Market cap – $690 million

12. NMB Bank

Market cap – $508 million

13. I&M Holdings

Market cap – $412 million

14. British American Tobacco – Uganda

Market cap – $387 million

15. British American Tobacco – Kenya

Market cap – $340 million

16. Stanbic Bank Uganda

Market cap – $323 million

17. Kenya Electricity Generating

Market cap – $305 million

18. Diamond Trust Bank

Market cap – $226 million

19. NCBA (Formerly NIC Group)

Market cap – $220 million

20. Jubilee Holdings

Market cap – $188 million

21. Tanzania Portland Cement

Market cap – $170 million

22. Britam Holdings

Market cap – $167 million

Out of all the 10 countries in East Africa today, these are the most valuable companies in the entire region.

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