Top 10 Multinational Companies In Africa

Africa is a continuing emerging market, a strong one at that, for many industries, from technology to transportation, and, as of recently, e-commerce, as well as communication. Multinational corporations are focusing their investments into Africa in support of the constant rise in development of the industries on a continent that’s full of potential. Here we take a look at these multinational cooperations. 

1 Jumia

Founded in 2012 and is already changing the entire landscape of how shopping is been done in Africa. Based on foreign investments, in 2016, Jumia was valued at a staggering $1.2 billion, impressive for a start up barely 4 years old. Jumia is hoping to accomplish what Amazon has done in the US and Alibaba for China. Jumia currently has a presence in 14 countries in Africa. In these countries, online retail accounts for just 0.5% of economic activity, which is trending upward and expecting exponential results. For better understanding, jumia has a strong presence in the Nigerian Market and is regarded as a top online market place highly reliable and dependable. This just shows how far the jumia brand has come. 

2 Vodafone 

Vodafone is one of the world’s leading multinational corporations in mobile technology industries. Over the past decade, Vodafone has made significant investments in Africa based on the predicted growth of mobile phone use across the entire continent, and rightly so their prediction has been spot on. Africa’s population has exponentialy grown, nearing one billion people, and mobile technology is at the forefront of this growth. 

Vodacom delivers messaging, internet, telecom, text and data services to over 130 million consumers throughout 48 African countries. 

Vodacom was the second network to provide 5G networks to parts of Africa, starting in Johannesburg, Pretoria and Cape Town. They sponsor various sports teams for marketing, with their most lucrative deal being the title sponsor of the Super Rugby tournament in South Africa since 1996. 

3 Standard Bank Group

Founded in South Africa, over the past 150 years, it has grown to a leading African financial services group. It’s the continent’s biggest lender with assets totaling over $128 billion. The company’s astronomical growth is attributed to the acquisitions made throughout Africa to improve the financial infrastructure. Malawi, the Ivory Coast, Tanzania, and Uganda are just a few of the countries that have grown recently with the Standard Bank (and subsidiaries) presence. The bank now operates over 1,000 branches in Africa and employs over 50,000 people worldwide.

With its headquarters in Johannesburg, It runs in 20 African countries including domestically, offering several financial assistance to its customers, while also performing its operations. 

4 Shoprite

Shoprite was founded in 1979 and had a humble beginning when the company purchased eight grocery stores from the Rogut family. They opened their first store abroad in 1990 in Namibia and expanding ever since to be the billion-dollar business it is today. 

Shoprite is now Africa’s largest leading supermarket retailer, operating a little more than 2,989 stores spread across Africa. 

Having there headquartered in Brackenfell in the Western Cape of South Africa. Shoprite is a massive employer, with over 145,000 staff as of July 2022. 

5 MTN Group 

Founded in 1994, it operates from its headquarters in Johannesburg South Africa. It is listed as the eighth largest telecommunications company in the world and the largest in Africa with over 300 million subscribers. Its services are delivered to 20 countries throughout Africa and the Middle East. 

MTN Group has a large revenue share in Africa’s most populated country, Nigeria, with around 35% market share. 

6 Unilever 

Is a British multinational company operating in 190 countries, with its main headquarters in London, United Kingdom. Unilever produces consumer goods such as energy drinks, food, candy, ice cream, tea, desserts, condiments, extracts, and other products. It owns about 400 brands and rakes in over a billion euros or more in annual sales on brands such as Lipton, Knorr, Surf, Dove, Hellman’s, Magnum, and Lux. 

Unilever has a strong presence in the African Market, coming into the continent through the Nigerian Market in 1923 as Lever Brothers, and later changed its name to Unilever in 2001. 

7 Coca - Cola 

Coca - Cola is a multinational beverage brand that has moved from its initial establishment in Atlanta, Georgia, United States, to over 200 countries globally. In fact, the brand is out of this world, literally speaking. 

Coca - Cola is one of the most consumed beverage drinks in Africa. Their products are top class, with many flavors to suit a wide range of customers in the market. The various brands under the Coca Cola Company include but not limited to; 

Fanta

Schweppes

Sprite

Fresca

Aquarius

Amongst others. 

8 May And Baker Pharmaceuticals 

May and Baker is a British chemical company established by John May and William Gerrard Baker in Wandsworth, London in 1839. The company started operating in Africa in the 90's, having a heavy presence of branches across the continent. They entered the Nigerian market on September 4 1944, as Nigeria’s first pharmaceutical company. May and Baker produce a wide range of pharmaceuticals. 

Such as; 

Multivitamins, Antibiotics, Vaccines, Analgesics, Antimalarials, Antiretrovirals and Antidiabetics. 

9 Eskom 

Eskom is the biggest generator of power in Africa and one of the biggest in the world. It generates 95% of power used in South Africa and also meets 45% of the rest of Africa’s power needs. 

Eskom generates, transmits and distributes electricity to homes, industries, and redistributors. An estimated 49,000 employees work in the company. Eskom Holdings has US$15 billion (2018 estimate) in revenue annually. Eskom Holdings competes with Constellation Energy, Duke Energy Corporation, and Entergy Corporation. The company has its headquarters in Sunninghill, South Africa.

10 Dangote Group 

This is a multinational industrial conglomerate situated in Nigeria; it is run by Aliko Dangote, the current richest man in Africa. The conglomerate holds the record of being the largest conglomerate in Western Africa. The group is estimated to employ well over fifty thousand people, generating revenues in billions of dollars.

Taking a sharp shot at the Nigeria market, the company was founded in 1981 as a trading enterprise and running imports and exports of other consumer goods for distribution in the Nigeria market. The group currently runs in over ten African countries with its headquarters sited in Lagos, Nigeria. The company recorded a turnover of US$3.1 Billion During the financial year that ended in 2018. With the Dangote group diversifying into the oil market, big things are only expected going forward, it is billed to strat operations in 2024.