Africa's 100 Largest Frontier Stocks

You may not hear much about them in the pages of the Wall Street Journal or Financial Times, but Sub-Saharan Africa has its own set of blue-chip companies.

It’s important for investors to be aware of these giants of African commerce and industry because they tend to be less risky than their smaller counterparts.

The table below lists Sub-Saharan Africa’s 100 largest stocks (excluding those listed on the Johannesburg Stock Exchange).

Photo by World Bank

They are ranked in order of US$ market capitalization as of July 20, 2012.

Note that Nigerian and Kenyan companies dominate the list, as do banks, breweries, and cement companies.

100 Largest Companies in Sub-Saharan Africa (ex S.A.)

[table id=91 /]


Print Friendly


  1. Mike says

    Hi Ryan – just wondering what criteria you used for multinationals – no Tullow (TLW) under Ghana, for example, but Bidvest Namibia? Thanks

    • says

      Hi Mike,
      Bidvest Namibia is listed because it is a separately-listed operating unit in Namibia. Tullow Oil, on the other hand, is only dual-listed in Ghana. It doesn’t have a primary listing or Ghanaian subsidiary listed on the Ghana Stock Exchange.

Leave a Reply

Your email address will not be published. Required fields are marked *