List of Top 500 Companies in Africa in terms of Revenue 2018

Only 13 Kenyan Companies have appeared in the list of top 500 companies in Africa in terms of Revenue as of 2018. The report which was compiled by Africa Report magazine , lists Safaricom at number 62, Kenya Airways at number 114, Kenol Kobil at number 117, Total Kenya at number 131, Kenya Power at 135, EABL at number 201, Bamburi cement at number 302, KenGen at number 364,Jubilee holdings at number 393, Britam at number 462, British American Tobacco Kenya at number 467, Unga Group at number 469, UAP holdings at number 476.

Below is a full list of top 500 companies in Africa in terms of revenue as of 2018. South Africa and Morocco companies dominate the list. ( The turnover is in US Dollars)

Rank	Company	Sector	Country	Turnover
1	Sonatrach	Petroleum	Algeria	30 242 200
2	Steinhoff International Holdings	Wood and paper	Algeria	17 304 461
3	Sonangol	Petroleum	South Africa	14 711 363
4	The Bidvest Group*	Diversified	Angola	*13 290 847*
5	Eskom	Utilities	South Africa	12 856 531
6	Sasol	Chemicals	South Africa	12 552 130
7	MTN Group	ICT/Telecoms	South Africa	10 736 034
8	ShopRite Holdings	Retail	South Africa	9 437 432
9	Imperial Holdings	Diversified	South Africa	8 626 060
10	Bidfood (ex BidCorp)*	Agribusiness	South Africa	*7 561 953*
11	SPAR Group	Retail	South Africa	6 693 836
12	Massmart Holdings	Retail	South Africa	6 645 780
13	The Bidvest Group South Africa	Diversified	South Africa	6 554 152
14	Sanlam	Insurance	South Africa	6 292 323
15	Naspers	Media	South Africa	6 098 000
16	Datatec	Media	South Africa	6 083 383
17	Vodacom Group	ICT/Telecoms	South Africa	5 899 157
18	Pick n Pay Stores Group	Retail	South Africa	5 742 370
19	Engen Petroleum	Petroleum	South Africa	5 503 959
20	Suez Canal Authority*	Ports	Egypt	*5 175 600*
21	Sappi	Wood and paper	South Africa	5 141 000
22	Woolworths Holdings	Retail	South Africa	4 861 263
23	Barloworld	Diversified	South Africa	4 829 981
24	Transnet	Transports	South Africa	4 752 393
25	Vodacom South Africa	ICT/Telecoms	South Africa	4 698 031
26	Anglo American Platinum Corporation	Mining	South Africa	4 498 218
27	AngloGold Ashanti	Mining	South Africa	4 254 000
28	Office Chérifien des Phosphates	Mining	Morocco	4 173 200
29	Orascom Construction Industries	Construction	Egypt	4 033 100
30	SABMiller South Africa*	Food and drink	South Africa	*3 804 000*
31	Old Mutual Life Assurance Company	Insurance	South Africa	3 645 258
32	Groupe Maroc Telecom	ICT/Telecoms	Morocco	3 463 862
33	MTN Nigeria	ICT/Telecoms	Nigeria	3 420 115
34	Mediclinic Corporation	Healthcare	South Africa	3 381 710
35	ONEE	Utilities	Morocco	3 361 687
36	Société Nationale d’Investissement	Diversified	Morocco	3 291 346
37	Sonelgaz	Utilities	Algeria	3 198 616
38	Naftal*	Petroleum services	Algeria	*3 132 588*
39	Dangote Group*	Diversified	Nigeria	*3 100 000*
40	MTN South Africa	ICT/Telecoms	South Africa	3 042 699
41	Liberty Group	Insurance	South Africa	2 996 683
42	Telkom	ICT/Telecoms	South Africa	2 973 603
43	Global Telecom Holding	ICT/Telecoms	Egypt	2 955 500
44	Kumba Iron Ore	Mining	South Africa	2 914 450
45	Transnet Freight Rail	Air transport	South Africa	2 838 894
46	Gold Fields	Mining	South Africa	2 749 500
47	Impala Platinum Holdings	Mining	South Africa	2 607 945
48	Aspen Pharmacare Holdings	Pharmaceuticals	South Africa	2 583 848
49	Network Healthcare Holdings	Healthcare	South Africa	2 452 914
50	Aveng	Diversified	South Africa	2 449 938

51	Ethiopian Airlines	Air transport	Ethiopia	2 416 678
52	Discovery Health	Insurance	South Africa	2 400 511
53	ArcelorMittal South Africa	Metals	South Africa	2 376 051
54	Masscash	Retail	South Africa	2 304 277
55	Tiger Brands	Agribusiness	South Africa	2 303 544
56	Sibanye Gold	Mining	South Africa	2 267 450
57	Wilson Bayly Holmes – Ovcon	Construction	South Africa	2 224 599
58	MMI Holdings	Insurance	South Africa	2 102 715
59	Cevital	Agribusiness	Algeria	2 098 754
60	Maroc Telecom	ICT/Telecoms	Morocco	2 087 435
61	Soc. Tunisienne des Industries de Raffinage*	Petroleum services	Tunisia	*2 084 017*
62	Safaricom	ICT/Telecoms	Kenya	2 039 486
63	JD Group*	Retail	South Africa	*2 033 750*
64	Remgro	Diversified	South Africa	2 010 248
65	The Arab Contractors	Construction	Egypt	2 000 238
66	Dangote Cement	Construction	Nigeria	1 999 085
67	Edgars Consolidated Stores	Retail	South Africa	1 990 507
68	Foschini	Retail	South Africa	1 917 099
69	Blue Label Telecoms	ICT/Telecoms	South Africa	1 909 716
70	Masswarehouse	Retail	South Africa	1 906 698
71	Murray & Roberts Holdings	Construction	South Africa	1 897 822
72	Super Group	Auto industry	South Africa	1 883 379
73	Santam	Insurance	South Africa	1 880 475
74	Clicks Group	Retail	South Africa	1 853 038
75	RCL Foods	Food and drink	South Africa	1 816 326
76	Flour Mills of Nigeria	Agribusiness	Nigeria	1 704 509
77	Soc. Tunisienne de l’électricité et du Gaz	Utilities	Tunisia	1 610 025
78	Distell Group	Food and drink	South Africa	1 558 301
79	Middle East Oil Refineries*	Petroleum services	Egypt	*1 526 245*
80	Exxaro Resources	Mining	South Africa	1 516 704
81	Pioneer Foods Group	Food and drink	South Africa	1 495 126
82	Massdiscounters	Retail	South Africa	1 491 120
83	Oando	Petroleum services	Nigeria	1 481 177
84	Cosider	Construction	Algeria	1 463 160
85	Sonatel	ICT/Telecoms	Senegal	1 457 543
86	Kansanshi Mining	Mining	Zambia	1 449 000
87	Mr Price Group	Retail	South Africa	1 434 399
88	Allied Electronics Corporation	Electrical equipment	South Africa	1 431 060
89	Ethio Telecom	ICT/Telecoms	Ethiopia	1 420 480
90	Royal Air Maroc	Air transport	Morocco	1 417 144
91	Nampak	Wood and paper	South Africa	1 389 101
92	Elsewedy Electric	Electrical equipment	Egypt	1 352 993
93	AECI	Chemicals	South Africa	1 349 698
94	Harmony Gold Mining Company	Mining	South Africa	1 330 682
95	Tongaat Hulett Group	Food and drink	South Africa	1 300 271
96	Ezz Steel Company	Metals	Egypt	1 273 091
97	Mohammed Enterprises Tanzania	Diversified	Tanzania	1 256 464
98	Truworths International	Retail	South Africa	1 208 747
99	Life Healthcare Group	Healthcare	South Africa	1 190 602
100	Omnia Holdings	Chemicals	South Africa	1 180 804

101	Kap International Holdings	Diversified	South Africa	1 178 119
102	Adcorp Holdings	Services	South Africa	1 166 575
103	Poulina Group Holding	Diversified	Tunisia	1 119 814
104	Lonmin	Mining	South Africa	1 118 000
105	Condor Electronics	Electrical equipment	Algeria	1 106 000
106	Hosken Consolidated Investments	Diversified	South Africa	1 076 337
107	RMI Holdings	Insurance	South Africa	1 070 845
108	Saham Finances	Insurance	Morocco	1 051 600
109	Marjane Holding*	Retail	Morocco	*1 049 004*
110	PSG Group	Insurance	South Africa	1 047 257
111	Optimum Telecom Algeria	ICT/Telecoms	Algeria	1 040 000
112	Société Nationale des Hydrocarbures	Petroleum	Cameroon	1 031 685
113	Nigerian Breweries	Food and drink	Nigeria	1 019 665
114	Kenya Airways	Air transport	Kenya	1 018 134
115	Group Five Holdings	Construction	South Africa	999 689
116	Ooredoo Algeria	ICT/Telecoms	Algeria	998 580
117	KenolKobil	Petroleum	Kenya	991 472
118	Société Nationale de Raffinage*	Refining	Cameroon	*977 087*
119	Tsogo Sun Holdings	Tourism	South Africa	959 653
120	Olam Group Côte d’Ivoire	Agribusiness	Côte d’Ivoire	955 276
121	EgyptAir Holdings	Diversified	Egypt	949 641
122	Compagnie Ivoirienne d’Électricité	Utilities	Côte d’Ivoire	949 313
123	Total Nigeria	Petroleum services	Nigeria	945 596
124	EOH Holdings	ICT/Telecoms	South Africa	926 252
125	Massbuild	Construction	South Africa	920 830
126	Anglovaal Industries	Food and drink	South Africa	884 670
127	Sun International	Tourism	South Africa	884 460
128	Tanzania Electric Supply Company*	Utilities	Tanzania	*880 990*
129	Astral Foods	Agribusiness	South Africa	867 621
130	Illovo Sugar*	Agribusiness	South Africa	*854 200*
131	Total Kenya	Petroleum services	Kenya	853 204
132	Novignis*	Insurance	Nigeria	*839 276*
133	Ghabbour Auto	Auto industry	Egypt	839 183
134	Invicta Holdings	Auto industry	South Africa	836 693
135	Kenya Power and Lighting	Utilities	Kenya	834 234
136	IBL Group (ex GML)	Diversified	Mauritius	828 224
137	Transnet Port Terminals	Transport	South Africa	809 267
138	LafargeHolcim Maroc (ex Lafarge Ciments)	Construction	Morocco	803 079
139	Pinnacle Technology Holdings	Electrical equipment	South Africa	796 140
140	Rand Water	Financial services	South Africa	794 816
141	Taqa Morocco	Utilities	Morocco	790 932
142	Total Maroc	Petroleum services	Morocco	789 523
143	Orange Côte d’Ivoire	ICT/Telecoms	Côte d’Ivoire	777 341
144	Telecom Egypt	ICT/Telecoms	Egypt	775 906
145	Compagnie Sucrière Marocaine de Raffinage	Agribusiness	Morocco	772 844
146	PGI Holding – Amengroup	Diversified	Tunisia	770 062
147	Holding Marocaine Commerciale et Financière	Diversified	Morocco	767 607
148	Transnet National Ports Authority	Transport	South Africa	753 308
149	PetroSA	Petroleum services	South Africa	751 717
150	Anouar Invest*	Diversified	Morocco	*750 259*

151	MTN Ghana	ICT/Telecoms	Ghana	746 921
152	EgyptAir Airlines	Air transport	Egypt	745 365
153	Mota-Engil Africa	Construction	South Africa	745 208
154	Total Gabon	Petroleum services	Gabon	745 097
155	Aurecon	Construction	South Africa	743 400
156	9mobile (ex Etisalat Nigeria)	ICT/Telecoms	Nigeria	742 950
157	Label’ Vie	Retail	Morocco	742 551
158	CMH Group	Auto industry	South Africa	742 123
159	Al Ezz Dekheila Steel Company	Metals	Egypt	741 754
160	Zeder Investments	Agribusiness	South Africa	740 969
161	Groupe SIFCA	Agribusiness	Côte d’Ivoire	733 252
162	Hulamin	Metals	South Africa	733 011
163	Mpact	Wood and paper	South Africa	732 956
164	IHS Towers Group*	ICT/Telecoms	Mauritius	*723 100*
165	Wafa Assurance	Insurance	Morocco	718 674
166	Lafarge Africa	Construction	Nigeria	714 071
167	Clover Holdings	Food and drink	South Africa	712 642
168	Zain Sudan	ICT/Telecoms	Sudan	709 000
169	Tarkwa Mines	Mining	Ghana	708 900
170	Growthpoint Properties	Construction	South Africa	708 671
171	Pretoria Portland Cement Company	Construction	South Africa	699 744
172	Douja Promotion	Construction	Morocco	699 241
173	Lyonnaise des Eaux de Casablanca	Utilities	Morocco	698 039
174	African Rainbow Minerals	Mining	South Africa	696 768
175	Driefontein Mine	Mining	South Africa	682 332
176	Transnet Rail Engineering	Rail transport	South Africa	680 800
177	Trencor	Sea transport	South Africa	680 292
178	Choppies Enterprises	Retail	Botswana	677 801
179	Social Security and National Insurance Trust*	Insurance	Ghana	*673 574*
180	Centrale Danone	Food and drink	Morocco	670 526
181	Tullow Ghana	Petroleum	Ghana	666 600
182	Stefanutti Stocks Holdings	Construction	South Africa	664 078
183	Volta River Authority*	Utilities	Ghana	*662 887*
184	Société Nationale Burkinabé d’Hydrocarbures	Petroleum services	Burkina Faso	656 697
185	Grindrod	Transport	South Africa	655 543
186	African Reinsurance Corporation	Insurance	Nigeria	653 664
187	Raubex	Construction	South Africa	653 630
188	Metair Investments	Auto industry	South Africa	649 860
189	Orange Egypt	ICT/Telecoms	Egypt	647 349
190	Kloof Gold Mining Company	Mining	South Africa	645 302
191	Société Maghrebine de Génie Civil de Guinea Eq.*	Construction	Eq. Guinea	*641 259*
192	Société Africaine de Raffinage	Refining	Senegal	630 962
193	Cashbuild	Construction	South Africa	629 243
194	Airports Company South Africa	Air transport	South Africa	628 078
195	Mondi Group South Africa	Wood and paper	South Africa	625 272
196	Econet Wireless	ICT/Telecoms	Zimbabwe	621 705
197	Ghana Oil Company	Petroleum services	Ghana	620 118
198	Sanam Agro	Agribusiness	Morocco	619 655
199	Reunert	Electrical equipment	South Africa	617 728
200	East African Breweries Kenya	Food and drink	Kenya	616 350

201	East African Breweries Group	Food and drink	Kenya	616 207
202	Nigerian Bottling Company	Food and drink	Nigeria	615 495
203	Renault Retail Maroc*	Auto industry	Morocco	*611 828*
204	Caisse des Dépôts et Consignations Gestion	Insurance	Tunisia	606 084
205	Société Nationale Industrielle et Minière	Mining	Mauritania	603 647
206	Oceana Group	Agribusiness	South Africa	598 349
207	Soc. Nat. de Distribution des Pétroles AGIL	Petroleum services	Tunisia	596 442
208	Catoca Sociedade Mineira	Mining	Angola	593 617
209	Nestlé Nigeria	Food and drink	Nigeria	591 211
210	Rainbow Chicken*	Food and drink	South Africa	*588 767*
211	Innscor Africa	Agribusiness	Zimbabwe	586 911
212	Pharmacie Centrale de Tunisie*	Healthcare	Tunisia	*584 753*
213	Compagnie Minière de l’Ogooué (Comilog)	Mining	Gabon	579 600
214	RMA (ex RMA Watanya)	Insurance	Morocco	575 804
215	Johannesburg Water	Utilities	South Africa	573 658
216	Axian Group	Diversified	Madagascar	571 000
217	RMB Holdings	Insurance	South Africa	557 197
218	Dangote Sugar Refinery	Agribusiness	Nigeria	551 606
219	South African Broadcasting Corporation	Media	South Africa	546 179
220	Inwi*	ICT/Telecoms	Morocco	*544 104*
221	Total Côte d’Ivoire*	Petroleum services	Côte d’Ivoire	*541 546*
222	Société Nationale d’Électricité	Utilities	Senegal	540 229
223	SA des Brasseries du Cameroun	Food and drink	Cameroon	538 867
224	Orange Maroc (ex Médi Télécom)*	ICT/Telecoms	Morocco	*535 695*
225	Orange Mali	ICT/Telecoms	Mali	527 597
226	Air Mauritius	Air transport	Mauritius	524 712
227	Société des Mines de Loulo	Mining	Mali	524 358
228	MTN Côte d’Ivoire	ICT/Telecoms	Côte d’Ivoire	520 834
229	Biopharm	Pharmaceuticals	Algeria	519 454
230	Soc. Marocaine de Constructions Automobiles*	Auto industry	Morocco	*502 591*
231	Auto Hall	Auto industry	Morocco	497 553
232	Ciel Group	Diversified	Mauritius	495 190
233	Metropolitan Life	Insurance	South Africa	494 705
234	Essakane Gold Mine*	Mining	Burkina Faso	*487 100*
235	Pétrole du Maghreb*	Petroleum services	Morocco	*484 656*
236	Eneo Cameroon	Utilities	Cameroon	484 302
237	Société Tunisienne de l’Air	Air transport	Tunisia	483 029
238	Delta Corporation	Food and drink	Zimbabwe	482 968
239	Forte Oil	Petroleum	Nigeria	482 967
240	Redefine Properties	Construction	South Africa	475 275
241	Sudatel Telecom Group	ICT/Telecoms	Sudan	475 175
242	Total Sénégal	Petroleum services	Senegal	472 601
243	OK Zimbabwe	Retail	Zimbabwe	472 405
244	Zimplats Holdings	Mining	Zimbabwe	471 778
245	Tunisie Telecom	ICT/Telecoms	Tunisia	469 337
246	North Mara Gold Mine	Mining	Tanzania	469 293
247	Tanzania Breweries	Food and drink	Tanzania	468 505
248	Holding Al Omrane*	Construction	Morocco	*467 046*
249	CTP Holdings	Media	South Africa	464 875
250	Northam Platinum	Mining	South Africa	464 849

251	Meikles Africa	Diversified	Zimbabwe	457 626
252	Julius Berger Nigeria	Construction	Nigeria	451 730
253	Abu Qir Fertilizers & Chemical Industries*	Chemicals	Egypt	*451 253*
254	MTN Cameroon	ICT/Telecoms	Cameroon	449 198
255	Produce Buying Company	Agribusiness	Ghana	443 348
256	Zalar Holding	Agribusiness	Morocco	442 544
257	Vivo Energy Côte d’Ivoire	Petroleum	Côte d’Ivoire	436 324
258	Bell Equipment	Auto industry	South Africa	435 650
259	Vodacom Tanzania	ICT/Telecoms	Tanzania	433 230
260	Comair	Air transport	South Africa	432 546
261	Saham Assurance Maroc	Insurance	Morocco	431 558
262	Qalaa Holdings	Diversified	Egypt	430 899
263	Groupe Managem	Mining	Morocco	430 074
264	Ooredoo Tunisia	ICT/Telecoms	Tunisia	429 397
265	Beatrix Gold Mine	Mining	South Africa	427 053
266	Société Magasin Général	Retail	Tunisia	425 683
267	Société Burkinabé des Fibres Textiles	Agribusiness	Burkina Faso	423 976
268	CECA-GADIS Group	Retail	Gabon	421 176
269	Aveng Steel (ex Aveng Trident Steel)	Metals	South Africa	420 964
270	Tradex	Petroleum services	Cameroon	420 378
271	Eastern Company	Agribusiness	Egypt	417 959
272	Vodacom DRC	ICT/Telecoms	DRC	415 593
273	Merafe Resources	Mining	South Africa	413 820
274	CDG Développement	Services	Morocco	410 629
275	Kaap Agri Limited	Agribusiness	South Africa	410 283
276	Electricidade de Moçambique	Utilities	Mozambique	405 966
277	Lewis Group	Retail	South Africa	405 875
278	Hollard Insurance	Insurance	South Africa	403 479
279	Adcock Ingram Holdings	Pharmaceuticals	South Africa	402 500
280	African Oxygen	Chemicals	South Africa	401 875
281	Hudaco Industries	Auto industry	South Africa	401 675
282	Munich Reinsurance Company of Africa	Insurance	South Africa	400 006
283	SAF-Cacao	Agribusiness	Côte d’Ivoire	398 919
284	MTN Uganda	ICT/Telecoms	Uganda	396 650
285	Entreprise Tunisienne d’Activités Pétrolières	Petroleum services	Tunisia	395 254
286	Lesieur Cristal	Food and drink	Morocco	395 211
287	Sefalana Holding Company	Food and drink	Botswana	393 032
288	Eclosia Group	Food and drink	Mauritius	391 742
289	Société de Fabrication des Boissons de Tunisie	Food and drink	Tunisia	391 581
290	Axa Assurance Maroc	Insurance	Morocco	385 973
291	Mustek	Media	South Africa	383 686
292	Famous Brands	Tourism	South Africa	382 523
293	Egyptian Sugar and Integrated Industries Co.	Agribusiness	Egypt	380 571
294	Ciments du Maroc	Construction	Morocco	379 875
295	Prosuma Group	Retail	Côte d’Ivoire	378 902
296	Pioneers Holding	Insurance	Egypt	377 722
297	Al Ezz Rolling Mills	Metals	Egypt	377 547
298	Oriental Weavers Company	Textile	Egypt	372 177
299	Basil Read Holdings	Construction	South Africa	372 051
300	Namibian Power Corporation	Utilities	Namibia	366 088

301	Aveng Mining	Mining	South Africa	364 787
302	Bamburi Cement	Construction	Kenya	364 366
303	Groupe CFAO Congo*	Diversified	Rep. of Congo	*363 445*
304	Bulyanhulu Gold Mine	Mining	Tanzania	360 928
305	Talaat Moustafa Group	Construction	Egypt	359 600
306	South Deep Gold Mine	Mining	South Africa	358 200
307	Société des Mines de Gounkoto	Mining	Mali	357 171
308	ENL Group	Diversified	Mauritius	357 067
309	MRS Oil	Petroleum services	Nigeria	356 314
310	Copperbelt Energy Corporation	Utilities	Zambia	354 626
311	Umeme	Utilities	Uganda	354 407
312	Seven-Up Bottling Company	Food and drink	Nigeria	351 900
313	Egypt Kuwait Holding Company	Diversified	Egypt	351 221
314	Afriquia Gaz	Gas	Morocco	349 993
315	Alliances Développement Immobilier	Construction	Morocco	349 679
316	Perseus Mining Ghana	Mining	Ghana	348 018
317	Eterna Oil & Gas	Chemicals	Nigeria	347 385
318	Tigo Tanzania	ICT/Telecoms	Tanzania	347 000
319	Waco International	Construction	South Africa	345 222
320	Dangote Flour Mills	Agribusiness	Nigeria	343 737
321	Suez Cement Company	Construction	Egypt	337 402
322	Office National des Chemins de Fer du Maroc	Rail transport	Morocco	337 327
323	Société d’Énergie et d’Eau du Gabon	Utilities	Gabon	336 968
324	Office National des Aéroports	Air transport	Morocco	334 175
325	Powertech	Electrical equipment	South Africa	333 941
326	MTN Sudan	ICT/Telecoms	Sudan	332 779
327	Société Générale des Travaux du Maroc*	Construction	Morocco	*332 164*
328	Guinness Nigeria	Food and drink	Nigeria	331 412
329	National Foods Holdings	Food and drink	Zimbabwe	330 642
330	Petromin Oils*	Petroleum services	Morocco	*330 640*
331	South African Post Office	Services	South Africa	329 416
332	Consolidated Infrastructure Group	Construction	South Africa	328 906
333	Redal Veolia Services*	Utilities	Morocco	*328 437*
334	NSIA Participations	Diversified	Côte d’Ivoire	327 614
335	Salam Gaz	Petroleum services	Morocco	326 856
336	Puma Energy Zambia	Petroleum	Zambia	325 301
337	Sania Compagnie	Agribusiness	Côte d’Ivoire	323 742
338	Délice Holding	Agribusiness	Tunisia	320 077
339	Société des Mines de Tongon	Mining	Côte d’Ivoire	319 249
340	Kibali Gold Mine	Mining	DRC	319 217
341	Maghrébail	Insurance	Morocco	316 319
342	Transnet Pipelines	Petroleum	South Africa	316 086
343	Novus Holdings	Wood and paper	South Africa	312 999
344	Raya Holding for Financial Investment (ex RHCTT)	Diversified	Egypt	312 879
345	Distribution & Warehousing Network	Retail	South Africa	312 157
346	Business Connexion Group*	Media	South Africa	*311 977*
347	Soc. de Limonaderies et Brasseries d’Afrique	Food and drink	Côte d’Ivoire	308 220
348	11 (ex Mobil Oil Nigeria)	Petroleum	Nigeria	305 850
349	Côte d’Ivoire Telecom*	ICT/Telecoms	Côte d’Ivoire	*304 718*
350	Palm Hills Development Company	Construction	Egypt	304 588

351	Rhodes Food Group Holdings	Food and drink	South Africa	300 910
352	SEMAFO Burkina Faso	Mining	Burkina Faso	300 483
353	Cervejas de Moçambique*	Food and drink	Mozambique	*297 485*
354	Société Nationale de Sidérurgie	Metals	Morocco	295 763
355	Santova Logistics	Transport	South Africa	295 681
356	Societe Marocaine de Carburants – ZIZ*	Petroleum services	Morocco	*294 719*
357	Coronation Fund Managers	Financial services	South Africa	293 659
358	Jumia Nigeria	Retail	Nigeria	292 183
359	MTN Benin	ICT/Telecoms	Benin	291 191
360	Alexander Forbes	Diversified	South Africa	285 457
361	Misr Insurance Company	Insurance	Egypt	284 266
362	Ascendis Health	Healthcare	South Africa	284 078
363	Quantum Foods Holdings	Food and drink	South Africa	284 011
364	Kenya Electricity Generating Company	Utilities	Kenya	283 027
365	Bidvest Namibia	Diversified	Namibia	282 179
366	Groupe Benamor	Food and drink	Algeria	281 765
367	Ciel Textile	Textile	Mauritius	281 281
368	Mauritius Telecom	ICT/Telecoms	Mauritius	279 714
369	Orascom Telecom Media & Technologies*	Insurance	Egypt	*279 564*
370	Airtel Uganda	ICT/Telecoms	Uganda	278 989
371	Alf Sahel*	Food and drink	Morocco	*278 584*
372	Conoil	Petroleum services	Nigeria	276 327
373	Maridive & Oil Services	Petroleum services	Egypt	275 540
374	UAC of Nigeria	Diversified	Nigeria	274 971
375	Total Petroleum Ghana	Petroleum services	Ghana	273 360
376	Maurel & Prom Gabon*	Petroleum	Gabon	*272 261*
377	Delta Holding	Diversified	Morocco	272 149
378	Centrale Automobile Chérifienne*	Auto industry	Morocco	*270 948*
379	Juhayna Food Industries	Food and drink	Egypt	270 265
380	Groupe CFAO Côte d’Ivoire*	Diversified	Côte d’Ivoire	*268 189*
381	Amni International Petroleum Development Co.*	Petroleum	Nigeria	*267 318*
382	ENGTP	Petroleum	Algeria	267 053
383	Industrial Promotion Services West Africa	Diversified	Côte d’Ivoire	266 661
384	Groupe CFAO Cameroun*	Diversified	Cameroon	*265 662*
385	Airtel DRC	ICT/Telecoms	DRC	265 140
386	Groupe Industriel des Productions Laitières*	Food and drink	Algeria	*263 678*
387	Press Corporation	Diversified	Malawi	262 511
388	Office du Commerce de la Tunisie*	Retail	Tunisia	*261 699*
389	Engen DRC	Petroleum	DRC	261 017
390	PZ Cussons Nigeria	Cosmetics industry	Nigeria	258 798
391	Peermont Global	Tourism	South Africa	258 501
392	Chirano Gold Mine	Mining	Ghana	258 500
393	Jubilee Holdings	Insurance	Kenya	257 775
394	New Mauritius Hotels	Tourism	Mauritius	256 539
395	Times Media Group*	Media	South Africa	*255 938*
396	Seplat Petroleum Development Company	Petroleum	Nigeria	254 217
397	Office National des Telecommunications	ICT/Telecoms	Burkina Faso	253 530
398	Soc. d’Exploitation des Ports – Marsa Maroc	Transport	Morocco	252 233
399	Ciments de l’Atlas	Construction	Morocco	252 011
400	Zambia Sugar	Agribusiness	Zambia	250 637

401	Energie du Mali	Utilities	Mali	247 392
402	Princes Tuna	Agribusiness	Mauritius	246 652
403	One Tech Holding	Electrical equipment	Tunisia	245 831
404	MTN Congo	ICT/Telecoms	Rep. of Congo	245 466
405	Orange Guinée	ICT/Telecoms	Guinea	245 042
406	Cooke Mine	Mining	South Africa	244 028
407	Autoroutes du Maroc*	Construction	Morocco	*243 868*
408	ADvTech Group	Services	South Africa	243 368
409	Vivo Energy Mauritius	Petroleum services	Mauritius	243 336
410	Royal Bafokeng Platinum	Mining	South Africa	242 577
411	Société Minière de Dinguiraye	Mining	Guinea	242 044
412	Tullow Gabon	Petroleum	Gabon	241 300
413	SNMVT Monoprix	Retail	Tunisia	241 296
414	Al Arafa for Invmt. in Garments Manufacturing	Textiles	Egypt	240 877
415	Alexandria Minerals Oils Company	Petroleum	Egypt	240 220
416	Société Nationale d’Assurances	Insurance	Algeria	240 032
417	Congelcam*	Retail	Cameroon	*237 140*
418	SCAMA	Auto industry	Morocco	236 648
419	Brasseries du Maroc	Food and drink	Morocco	235 762
420	Compagnie Centrale de Réassurance*	Insurance	Algeria	*235 344*
421	Airtel Tanzania	ICT/Telecoms	Tanzania	234 667
422	Compagnie de Distribution de Côte d’Ivoire	Retail	Côte d’Ivoire	233 091
423	Middle & West Delta Flour Mills	Food and drink	Egypt	233 091
424	Société Nationale Burkinabé d’Électricité*	Utilities	Burkina Faso	*232 918*
425	Bissa Gold	Mining	Burkina Faso	230 400
426	Banro Congo Mining	Mining	DRC	228 346
427	Unilever Nigeria	Chemicals	Nigeria	226 775
429	Aveng Grinaker-LTA (ex Grinaker-LTA)	Construction	South Africa	224 998
428	Bryte Insurance Co. (ex Zurich Insurance Co. SA)	Insurance	South Africa	224 998
430	Rössing Uranium Mine	Mining	Namibia	224 571
431	Buzwagi Gold Mine	Mining	Tanzania	223 311
432	Vodacom Moçambique	ICT/Telecoms	Mozambique	222 022
433	Golden Star Resources	Mining	Ghana	221 290
434	Zambeef	Food and drink	Zambia	219 404
435	Maghreb Steel*	Metals	Morocco	*218 886*
436	Rogers & Company	Diversified	Mauritius	218 222
437	Aveng Manufacturing	Construction	South Africa	217 740
438	La Marocaine des Jeux et des Sports	Tourism	Morocco	216 860
439	Royal Swaziland Sugar Corporation	Agribusiness	Swaziland	216 290
440	Eqstra Holdings	Auto industry	South Africa	215 127
441	Airtel Zambia	ICT/Telecoms	Zambia	214 072
442	Assore	Mining	South Africa	213 461
443	Leal Group	Diversified	Mauritius	213 055
444	Guelb Moghrein Copper-Gold Mine	Mining	Mauritania	213 000
445	SOPRIAM*	Auto industry	Morocco	*212 760*
446	Alteo (ex-Deep River Beau Champ)	Agribusiness	Mauritius	209 758
447	Tasiast Mauritanie	Mining	Mauritania	208 000
448	Nestlé Côte d’Ivoire	Food and drink	Côte d’Ivoire	207 548
449	Orange Tunisie*	ICT/Telecoms	Tunisia	*204 267*
450	Résidences Dar Saada	Construction	Morocco	203 934

451	Société Centrale de Réassurance	Insurance	Morocco	203 005
452	Compagnie Algérienne des Assurances	Insurance	Algeria	201 280
453	Zambian Breweries	Food and drink	Zambia	199 554
454	Societe de Travaux Agricoles Marocaine*	Construction	Morocco	*198 120*
455	Groupe CFAO Nigeria*	Diversified	Nigeria	*197 815*
456	Axia Corporation	Retail	Zimbabwe	197 506
457	RADEEMA*	Utilities	Morocco	*197 114*
458	MTN Zambia	ICT/Telecoms	Zambia	196 547
459	Engen Botswana*	Petroleum	Botswana	*195 997*
460	Avbob Industries	Insurance	South Africa	195 829
461	Botswana Insurance Holdings	Insurance	Botswana	195 270
462	Britam Holdings (ex British American Inv. Co.)	Insurance	Kenya	194 396
463	Transnational Corporation of Nigeria	Diversified	Nigeria	193 130
464	Phosphates de Boucraa*	Mining	Morocco	*191 948*
465	Sechaba Brewery Holdings*	Food and drink	Botswana	*190 973*
466	Cie d’Assurances et de Réassurances Atlanta	Insurance	Morocco	190 570
467	British American Tobacco Kenya	Agribusiness	Kenya	190 162
468	Société Centrale de Boissons Gazeuses*	Food and drink	Morocco	*189 599*
469	Unga Group	Food and drink	Kenya	189 143
470	Entreprise Nationale de Géophysique*	Petroleum	Algeria	*188 829*
471	Old Mutual Zimbabwe	Insurance	Zimbabwe	188 797
472	Nu World Holdings	Transport	South Africa	188 012
473	Sidi Kerir Petrochemicals Company	Petroleum	Egypt	187 865
474	eMedia Holdings (ex Seardel Investment Corp.)	Media	South Africa	187 455
475	Groupe CFAO Algérie*	Diversified	Algeria	*186 565*
476	UAP Holdings	Insurance	Kenya	185 770
477	Palm-Ci	Agribusiness	Côte d’Ivoire	185 353
478	Langer Heinrich Uranium	Mining	Namibia	184 900
479	Al Ezz Flat Steel	Metals	Egypt	184 739
480	Abosso Goldfieds – Damang Mining	Mining	Ghana	183 400
481	Société Africaine de Plantations d’Hévéas	Agribusiness	Côte d’Ivoire	181 872
482	Fiat Chrysler Automobiles Morocco*	Auto industry	Morocco	*180 280*
483	Groupe Acima*	Retail	Morocco	*180 210*
484	FEICOM	Services	Cameroon	179 465
485	Orange Burkina Faso (ex Airtel Burkina Faso)*	ICT/Telecoms	Burkina Faso	*179 371*
486	Peregrine Holdings	Diversified	South Africa	179 198
487	Airports of Mauritius	Air transport	Mauritius	178 783
488	Value Group	Transport	South Africa	178 022
489	Disway	Electrical equipment	Morocco	177 752
490	Namibia Breweries	Food and drink	Namibia	177 405
491	Gabon Telecom*	ICT/Telecoms	Gabon	*177 110*
492	Eqdom	Insurance	Morocco	176 983
493	DRDgold	Mining	South Africa	176 592
494	TAQA Arabia	Petroleum services	Egypt	176 476
495	Deneb Investments*	Insurance	South Africa	*176 136*
496	Saham Angola Seguros (ex GA Angola Seguros)*	Insurance	Angola	*173 000*
497	Honeywell Flour Mills	Agribusiness	Nigeria	172 991
498	BSI Steel	Metals	South Africa	172 510
499	Illovo Malawi	Agribusiness	Malawi	172 409
500	Compagnie d’Assurances Sanad	Financial services	Morocco	172 014

Victor Matara

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