East Africa’s telecommunications giant Safaricom, has been listed on the prestigious Forbes Global 2000 List.
The list comprises of the leading 2000 public companies in the world, with all firms being ranked based on their sales, profit, assets and market value.
Safaricom which posted an astonishing 240 billion Kenyan Shillings ($2.4 billion) in sales for the last financial year with its overall profits hitting 63 billion Kenyan Shillings ($623 million), is the only Kenyan business on the list.
Other notable African businesses on the list include; Absa Group, Commercial International Bank, Dangote Group, and MTN Group.
Of the companies based in Africa, only 17 were featured on the list, 10 of which were public firms from South Africa, 3 came from Morocco, and 2 from Nigeria.
Banks and financial institutions were the dominant forces for Africa, on the list.
Standard Bank Group from South Africa, emerged as the top African company on the 2019 Forbes list, with a market value of 2.3 trillion Kenyan Shillings ($22.9 billion).
The Group, posted 909 billion Kenyan Shillings ($9 billion) in sales, and a net profit of 212 Billion Kenyan Shillings ($2.1 billion) in the latest financial report.
The Industrial and Commercial Bank of China was ranked as the top company on the Forbes list for the 7th year in a row.
575 of the firms on the Forbes Global 2000 ranking, are based in the US.
