Latest news with #AfricanBusiness
eNCA
25-05-2025
- Business
- eNCA
Africa's best brands unveiled
JOHANNESBURG - This week, Brand Africa, in partnership with African Business and the Economic Commission for Africa, unveiled the results of the 15th annual Brand Africa 100, ranking the best Brands on the continent. The 2025 rankings reveal a stark disconnect between rising African optimism and declining brand loyalty. According to Brand Expert, Thebe Ikalafeng, if Africa had positive brands, which create a positive image of the continent, we'd be spending less on debt.
African Manager
16-05-2025
- Business
- African Manager
Tunisia: 7 companies among 250 companies with largest market capitalization in Africa
African Business magazine has just published the latest edition of its annual ranking of the 250 biggest listed companies on the continent. As of the end of March 2025, the total market capitalization of Africa's top 250 companies is $564 billion, which is a significant increase on the $503 billion recorded for the same period in 2024. However, this figure remains below the level of March 2020, when valuations reached 597 billion dollars despite the pandemic. The magazine also notes that this decline is partly due to the withdrawal of several major multinationals from African stock exchanges, which is having an impact on market dynamics. While no Tunisian company features in this year's Top 20, the country still places seven companies among the 250 largest on the continent. Topping the Tunisian ranking is Banque Internationale Arabe de Tunisie (BIAT), ranked 94th. It is followed by Société de Fabrication des Boissons de Tunisie (SFBT) in 112th place and Attijari Bank Tunisie in 116th place. The next three are Poulina Group Holding (168th), Amen Bank (211th) and Banque de Tunisie (212th). Finally, Délice Holding enters the ranking for the first time in 235th place. In 2025, Morocco is expected to have a significantly higher market capitalization than the rest of North Africa. The region's top six companies are all Moroccan, with no fewer than 15 featuring in the regional top 20. Attijariwafa Bank remains in first place, maintaining its giant status with a valuation that has climbed to 15.6 billion dollars. Egypt has placed five companies in the Top 20. In contrast, there are no Algerian, Libyan or Mauritanian companies in this year's ranking. As in previous years, South Africa remains by far the most powerful stock market on the continent. Its companies alone account for 60% of the total market capitalization of the Top 250, which is a stable figure compared with last year. Morocco remains in second place with a combined value of 15% of the companies in the ranking. Nigeria has fallen back behind it, with just 7% of the total. This is down from 7.8% in 2024. Egypt closes the top four with 6%. The banking sector is the most heavily represented. Regional banks alone account for 18% of the Top 250's total capitalization, while major international banks represent 8%. Insurance companies account for 5% of the ranking. Another pillar of the African private sector is telecommunications. Driven by major players operating in multiple markets, the sector's listed companies now represent 11% of the total value of the Top 250. It should also be noted that only companies listed on an African stock exchange and generating at least half of their sales on the continent are included in the ranking. African groups that are too international or not listed locally are therefore excluded.
Morocco World
12-05-2025
- Business
- Morocco World
Morocco's Corporate Dominance: 14 Firms Rule North Africa's Top 20
Doha – Morocco's corporate sector is tightening its grip on North Africa's business landscape, dominating the region's top rankings. According to the latest African Business 'Top Companies 2025' report, Moroccan firms occupy all six of the top spots and 14 of the top 20 positions among North Africa's biggest listed companies. In contrast, only two Egyptian firms made it into the region's top 13, with Egypt holding just six places overall in the top 20. This growing Moroccan corporate strength comes as Egypt struggles to fulfill long-promised economic reforms. Attijariwafa Bank leads the pack as North Africa's largest listed company, ranking 7th continent-wide. Its market value jumped significantly from $10.8 billion last year to $15.6 billion in the 2025 table. Maroc Telecom follows in second place regionally and 10th in Africa, with its value increasing from $8.7 billion to $11.1 billion. Mining firm Managem secured the third position in North Africa and 21st in Africa, followed by Banque Centrale Populaire (4th regionally, 22nd in Africa), transport operator Marsa Maroc (5th regionally, 24th in Africa), and power company TAQA Morocco (6th regionally, 26th in Africa). 'Morocco's lead over Egypt seems to grow stronger every year,' notes the report. 'The six biggest listed companies in North Africa are all Moroccan and there are only two Egyptian companies among the top 13.' While Egypt has promised to privatize state-owned companies and reduce military influence over the economy, progress has been limited. Meanwhile, 'Moroccan companies go from strength to strength,' according to African Business. Commercial International Bank (CIB) remains Egypt's biggest company, ranking 7th regionally and 30th in Africa. However, it continues sliding down the rankings as Moroccan firms expand. The remaining Moroccan companies in the top 20 include LafargeHolcim Maroc (8th regionally, 33rd in Africa), Bank of Africa (9th regionally, 35th in Africa), Ciments du Maroc (11th regionally, 47th in Africa), and Travaux Generaux de Construction de Casablanca (12th regionally, 59th in Africa). Other notable Moroccan entries include COSUMAR (13th regionally, 61st in Africa), Douja Promotion Groupe Addoha (16th regionally, 65th in Africa), Akdital (17th regionally, 66th in Africa), Wafa Assurance (18th regionally, 68th in Africa), and TotalEnergies Marketing Maroc (19th regionally, 74th in Africa). Egypt holds the remaining positions with El Sewedy Electric Company (10th regionally, 42nd in Africa), Talaat Moustafa Group Holding (14th regionally, 62nd in Africa), Eastern Company (15th regionally, 63rd in Africa), and Misr Fertilizers Production Company (20th regionally, 75th in Africa). A mining success story Managem stands out as one of the region's biggest corporate success stories. The Moroccan mining company jumped from 57th place last year to 21st in the 2025 Africa-wide rankings. Its market capitalization tripled from $2 billion to $6.1 billion. The company operates in eight African countries, mining and processing various commodities including cobalt, copper, gold, silver and zinc. Rising prices for critical minerals have boosted Managem's performance. These minerals, particularly copper and cobalt, are in high demand for the energy transition. Gold prices have also spiked as investors seek protection against market volatility. The company is expanding its operations. Managem is investing in the Tizert copper mine in Morocco's Taroudant province and the Boto gold project in eastern Senegal. In October 2024, it acquired the Karita gold project in Guinea from Canadian company IAMGOLD. At the same time, Managem sold its Oumejrane copper mine in Morocco to UAE's Purple Hedge DWC for $30 million earlier this year. Regional corporate landscape The absence of Algerian companies in the rankings highlights limitations in that country's economic strategy. Despite having Africa's fourth-largest economy behind South Africa, Nigeria and Egypt, Algeria has no companies in either the North African Top 20 or the wider African Top 250. Its government has discussed diversifying away from oil and gas for 20 years with limited progress, and private sector participation in key parts of the economy remains restricted. Tunisia shows more economic openness with seven companies in Africa's Top 250, including three banks. The country has leveraged its proximity to European markets by developing export-oriented sectors tied to global supply chains. However, its smaller population means Tunisian companies cannot match the scale of those in Morocco or Egypt. On the continental level, African companies have seen a partial recovery in value. The combined market capitalization of Africa's 250 biggest companies reached $564 billion by March 2025, up from $503 billion last year. However, this remains well below the peak of $948 billion achieved in 2015. South African companies continue to dominate the continent's rankings, accounting for 60% of the total market capitalization of Africa's Top 250 firms. Morocco ranks second nationally with 15%, followed by Nigeria with 7% and Egypt with 6%. The African Business survey methodology focuses on listed companies, with rankings determined by market capitalization as of March 31, 2025. State-owned enterprises and companies earning less than 50% of their revenues in Africa are excluded. The rankings also omit companies not listed on African stock exchanges, regardless of their operational presence on the continent. Read also: Benjelloun, Sefrioui, Akhannouch Among 2025 Forbes World's Billionaires
Business Insider
09-05-2025
- Business
- Business Insider
Ethiopia moves to lift decades-old law banning foreigners from property ownership
Ethiopia is taking a significant step toward economic reform by moving to lift its decades-old law that bans foreigners from owning property. Ethiopia is planning to lift its longstanding ban on foreign property ownership to attract foreign direct investment (FDI). The reform aims to address barriers such as state interference and institutional weaknesses that deter foreign investors. Experts suggest it will take time for the reforms to materialize fully and for investors to react to the changes. This proposed change that will now enable foreigners to own properties in the country is part of the Ethiopian government's broader efforts to attract foreign direct investment (FDI) and strengthen property rights. Since Prime Minister Abiy Ahmed came to power in 2018, his administration has pursued a series of liberalizing measures aimed at opening up the economy to foreign investment and driving sustained economic growth. Now, subject to parliamentary approval, land and property reform is set to become the latest addition to these initiatives. Ethiopia's longstanding prohibition on foreign ownership of land and property has been identified as one of several key constraints deterring foreign investors. Other barriers include high levels of state interference in the economy, inadequate infrastructure, strict foreign exchange controls, high transaction costs, and institutional weaknesses. The proposed legal reform represents a major departure from policies dating back to the 1974 communist revolution, which ushered in a system of state ownership of land and tightly restricted private property rights. Under the current framework, non-Ethiopian individuals and businesses have been barred from owning immovable property for either personal or commercial use. If passed by parliament, the new legislation could open up Ethiopia's growing economy to a wider range of international investors and signal a deeper shift toward market-oriented reforms. Experts weigh in on Ethiopia's gains Ethiopia is undeniably one of Africa's leading economies and an increasingly attractive investment destination, bolstered by its large population, strategic location, and ambitious development agenda. According to UNCTAD's World Investment Report 2024, foreign direct investment (FDI) inflows to Ethiopia reached USD 3.26 billion in 2023—down slightly from USD 3.67 billion in 2022, but still above pre-pandemic levels. This performance placed Ethiopia among the top five FDI destinations on the African continent. The recent decision to lift the ban on property ownership by foreigners is expected to support several of Ethiopia's development policies aimed at increasing revenue inflows and accelerating economic growth. Mirkarim Yakubov, an asset manager and investment expert, told African Business that while the move is promising, it will take time for the legislation to be finalized and for foreign investors to fully understand its implications. As a result, an immediate surge in capital inflows is unlikely. ' The impact will depend on what exactly this law ultimately entails and how it will be implemented, although it's definitely a very interesting move,' he said. 'While they have recently sped up the process to get critical pieces of law into action, it will take time for the government to iron out the details.' Yakubov stated.
