The market value of the MTN Group as of February 2022 was estimated at $24 billion, making it the most valuable brand in Sub-Saharan Africa.
Safaricom is ranked second in the top 30 with a market capitalization of $13 billion, making it the most valuable brand in East Africa.
The market capitalization of the 30 largest companies for the month of February 2022 was $117 billion, up 0.7% from January.
South African multinational telecom operator, MTN Group, has once again emerged as the largest sub-Saharan African (SSA) company by market capitalization, according to the latest monthly market report by AfricanFinaicials.
Jefferies says higher interest rates are putting pressure on homebuilders stocks, but investors should hold on to them because housing demand remains strong. The most recent report is an update from February 2022 and covers the top 30 companies in Sub-Saharan Africa by market capitalization.
According to the report, MTN Group has the highest market capitalization among other companies in the region, followed by Safaricom, the largest network operator in East Africa. Dangote Cement ranked third on the list, followed by MTN Nigeria, a subsidiary of the MTN Group, and Airtel Africa. The market capitalization of the 30 largest companies for the month of February 2022 was $117 billion, up 0.7% from January. Other insights from the report also showed that Nigerian companies dominated the list as the West African country had 12 companies in the top 30 list. The report also noted that equity markets in Sub-Saharan Africa (excluding South Africa) rose 3.1% in February 2022 and are up 4.7% year-on-year.