Top 20 Richest Companies In East Africa 2022
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.
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.
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.