TOP 500 COMPANIES IN AFRICA: African Economies up to the Global Challenge

Posted: August 10, 2011 by PaanLuel Wël Media Ltd. in Economy

Note to the editor:What if much of sub Sahara Africa was to become the world’s next business destination? The question might sound odd, yet it is in line with the tone of a UN Conference held in Istanbul last May.For UN Africa Renewal, André-Michel Essoungou reports.

African Union’s ordinary session. Photo: Asmaa Waguih-Reuters.

By André-Michel Essoungou

Istanbul

August 9, 2011 (SSNA) — Two foreign shoe sellers were once sent to Africa in search of new customers. At the sight of locals marching barefoot, the first retreated in despair. The second rejoiced at the untapped market. He ordered thousands of shoes, sold them to locals and became a wealthy man, or so the tale goes.

There is an appealing parallel that Cheikh Sidi Diarra, the UN special adviser on Africa and high representative for least developed countries (LDCs) is willing to draw between this story and the reality of the world’s 48 LDCs (33 of which are in sub-Saharan Africa): “Despite the many ills these countries endure, the world needs to start looking at them more as lands of opportunities rather than a burden,” he says. Urging investors to consider nations associated with endemic poverty, disease and instability as a potential business magnet is a bold invitation. Yet the call is in line with the general tone of an international gathering that Mr. Diarra led in May in Istanbul, Turkey.

Since 1981 the once-a-decade UN conference has focused on the world’s most vulnerable countries (as defined by low per-capita incomes, low standards of living and high vulnerability to economic shocks). Its aim has been to mobilize support, including by encouraging developed nations to disburse more aid to LDCs. In the past, much time has been devoted to this issue. This time, however, talk about aid was not central.

That was in part a result of the budget constraints imposed on rich countries by a frustratingly slow economic recovery. A growing realization that aid alone cannot solve the fundamental problems LDCs face added to what some see as a welcome shift away from the usual debates.

Ultimately, the Istanbul Programme of Action renewed aid commitments made at the previous conference in Brussels, Belgium, 10 years ago. Donors pledged to devote between 0.15 and 0.2 per cent of their gross national incomes (GNIs) to aid to LDCs.

Civil society groups in Istanbul criticized that as too little. “Having caused massive costs in the LDCs through financial and food speculation, unjust trade rules, illegitimate loans with onerous conditionality and ecological damage, including climate change, the developed countries have not even committed to provide more aid to LDCs,” they said. This is a charge that Mr. Diarra disputed. Although not new, this promise of aid remains an important one, he argued, adding that if fulfilled, it would likely raise the amount of aid actually going to LDCs from its current annual level of $38 billion.

The emphasis in Istanbul was on trade, investment and productive capacities. Months before the meeting, trade issues were at the centre of some of the most heated debates among negotiators. African LDCs called for the adoption of a long-debated scheme that would allow all their exports to enter developed-country markets without any duties or quotas. Such preferential treatment was considered a step too far by most developed countries, however, even though LDCs’ share of world trade currently stands at only 1 per cent. The charms of the crossroads city of Istanbul did not change any minds. Instead, there was renewal of yet another decade-old commitment: tariff-free access to developed nations’ markets for 97 per cent of LDCs’ exports.

Unfortunately for African LDCs, this arrangement provides little benefit, as the 3 per cent of exports excluded from tariff-free treatment covers some of the countries’ most important export products, including agricultural commodities such as sugar, rice, meat and dairy products.

African LDCs’ quest for more foreign investment received a stronger boost. Measures designed to encourage developed countries’ corporations to invest in LDCs were adopted, with governments expected to encourage their companies to invest in LDCs by providing fiscal incentives and special lines of credit.

In recent years the 33 LDCs from Africa have benefited most from the growth in foreign direct investment (FDI) to LDCs, which rose from $4.1 billion to $32.4 billion between 2001 and 2008. African LDCs accounted for almost half of that total. Yet not only did FDI’s eight-year growth come to a brief halt following the global recession, it also appears that FDI is mostly oriented toward just a few sectors, such as oil and minerals. As a result, few jobs have been created and strong growth in oil-rich countries such as Angola and Equatorial Guinea has yet to translate into meaningful change in people’s lives. Such trends must change if foreign investment is to help reduce poverty, which affects over half the population in the continent’s LDCs. In order for it to do so, the Istanbul Programme of Action calls for economic diversification to reduce African LDCs’ dependence on the extractive sector.

One major point of agreement among delegates in Istanbul was the need to invest in productive sectors, including agriculture, industry and infrastructure. The Programme of Action refers to these as “development multipliers,” as improvement in each area will benefit others. In an era of rising food prices, the call for further investment in agriculture is of particular interest to Africa, as the continent spends around $33 billion every year on food imports.

As the rest of the world hears calls to look at the continent in a more positive way, are the continent’s LDCs ready to seize the opportunity? “There is no doubt many African LDCs are performing better. Sound economic policies are leading to strong improvements in various areas,” asserted Mr. Diarra. Based on their strengths and needs, more African LDCs should follow suit, he urges. If they do, the legendary foreign shoe sellers arriving in Africa may be left only with the impression that they came in far too late.

Africa Renewal www.un.org/africarenewal

André-Michel Essoungou writes for UN Africa Renewal magazine. Over the past decade he has worked as Foreign Correspondent posted in Canada, US, Tanzania, Uganda and Switzerland for international media including the BBC World Service and Radio France International. He covered and published extensively on African affairs. His work has appeared in The New York Times, Le Monde Diplomatique and French Daily Liberation, among other publications. He is the author of a book (Justice à Arusha, published in Paris at l’Harmattan in 2006) and he holds a Master Degree in Political Science from Université de Genève (Switzerland).

TOP 500 COMPANIES IN AFRICA

Each year, The Africa Report chronicles the fortunes of the top 500 companies in Africa’s key business sectors. These rankings, which were published in February 2011, are based on firms’ 2009 performance, point to some of the important longer-term changes affecting African economies.

Use the search bar below to browse the ranking by company name, country or sector.

It was growth in domestic consumption that helped African companies’ impressive stamina in 2010. Read more analysis in A pause on the way up.

Rank 2010

The Afrique report
TOP 500 companies the africa report
Rank 2009

TOP 500 companies
The Afrique report
Company name

Country

Sector

TOP 500 companies egypt
Turnover (Thds $)

TOP 500 companies tunisia
Turnover change

Net profits

1 1 SONATRACH ALGERIA PETROLEUM 47 479 918 -33,49% 3
2 2 SONANGOL ANGOLA PETROLEUM 22 442 400 -15,63% 4
3 3 SASOL SOUTH AFRICA CHEMICALS 18 583 050 35,10% 1
4 4 THE BIDVEST GROUP SOUTH AFRICA RETAIL 15 157 520 29,58% 392
5 5 MTN GROUP SOUTH AFRICA TELECOMS 15 092 695 39,34% 2
6 11 ESKOM SOUTH AFRICA ELECTRICITY 9 600 397 68,82% 488
7 62 SANLAM SOUTH AFRICA INSURANCE 8 179 664 293,01% 685
8 17 SHOPRITE HOLDINGS SOUTH AFRICA RETAIL 7 997 328 58,85% 269
9 10 VODACOM GROUP SOUTH AFRICA TELECOMS 7 891 689 35,35% 566
10 14 PICK’N PAY STORES HOLDINGS SOUTH AFRICA RETAIL 7 379 305 39,32% 160
11 8 IMPERIAL HOLDINGS SOUTH AFRICA DIVERSIFIED 7 318 434 23,86% 204
12 18 VODACOM SOUTH AFRICA SOUTH AFRICA TELECOMS 6 799 107 35,53% 0
13 20 STEINHOFF INTERNATIONAL HOLDINGS SOUTH AFRICA DIVERSIFIED 6 476 753 36,09% 505
14 22 MASSMART HOLDINGS SOUTH AFRICA RETAIL 5 814 611 37,78% 163
15 19 BARLOWORLD SOUTH AFRICA DIVERSIFIED 5 693 718 15,08% 99
16 9 SAPPI SOUTH AFRICA PAPER 5 369 000 -8,43% -177
17 27 TELKOM SOUTH AFRICA TELECOMS 5 164 010 34,16% 508
18 15 ORASCOM TELECOM EGYPT TELECOMS 5 064 790 -3,42% 379
19 13 ANGLO PLATINUM CORP. SOUTH AFRICA MINING 4 981 195 -7,12% 421
20 31 TRANSNET SOUTH AFRICA TRANSPORT 4 800 940 35,28% 412
21 21 GROUPE ONA MOROCCO DIVERSIFIED 4 684 968 1,48% 381
22 37 AVENG SOUTH AFRICA DIVERSIFIED 4 553 101 45,49% 281
23 39 MURRAY & ROBERTS HOLDINGS SOUTH AFRICA CONSTRUCTION 4 551 847 54,44% 315
24 35 MTN NIGERIA NIGERIA TELECOMS 4 493 011 34,76% 0
25 33 MTN SOUTH AFRICA SOUTH AFRICA TELECOMS 4 469 148 30,33% 0
26 40 SPAR GROUP SOUTH AFRICA RETAIL 4 348 781 53,92% 100
27 12 SUEZ CANAL AUTHORITY EGYPT SEA TRANSPORT 4 289 500 -20,30% 0
28 32 SAB MILLER SOUTH AFRICA SOUTH AFRICA BEVERAGES 4 214 000 21,69% 0
29 36 ANGLOGOLD ASHANTI SOUTH AFRICA MINING 4 145 041 31,77% -372
30 46 GOLD FIELDS SOUTH AFRICA MINING 3 921 496 61,32% 207
31 28 ORASCOM CONSTRUCTION INDUSTRIES EGYPT CONSTRUCTION 3 861 027 3,45% 461
32 7 DE BEERS CONSOLIDATED MINES SOUTH AFRICA MINING 3 840 000 -44,25% -743
33 29 MAROC TELECOM MOROCCO TELECOMS 3 807 241 3,52% 1
34 58 NASPERS SOUTH AFRICA MEDIA 3 774 690 74,13% 532
35 24 DATATEC SOUTH AFRICA ICT 3 738 026 -10,82% 29
36 30 GRINDROD SOUTH AFRICA SEA TRANSPORT 3 733 441 4,75% 126
37 25 IMPALA PLATINUM HOLDINGS SOUTH AFRICA MINING 3 521 633 -11,39% 811
38 23 ARCELOR MITTAL SOUTH AFRICA SOUTH AFRICA METAL, STEEL 3 451 122 -18,16% -64
39 34 NAFTAL ALGERIA PETROLEUM SERVICES 3 437 127 0,41% 130
40 41 SOUTH AFRICAN AIRWAYS SOUTH AFRICA AIR TRANSPORT 3 420 977 22,65% 51
41 16 SAMIR MOROCCO REFINERY 3 382 081 -34,64% 69
42 43 EDGARS CONSOLIDATED STORES SOUTH AFRICA RETAIL 3 353 782 25,99% -142
43 54 KUMBA RESOURCES SOUTH AFRICA MINING 3 155 867 39,85% 940
44 52 NETWORK HEALTHCARE HOLDINGS SOUTH AFRICA HEALTH 3 132 138 36,40% 236
45 51 OLD MUTUAL LIFE ASSURANCE CO. SOUTH AFRICA INSURANCE 3 113 129 35,48% 725
46 6 OFFICE CHERIFIEN DES PHOSPHATES MOROCCO MINING 3 011 760 -59,80% 0
47 37 ALLIED ELECTRONICS CORP. SOUTH AFRICA ELECTRICAL EQUIPMENT 3 011 340 15,08% 73
48 50 LIBERTY GROUP SOUTH AFRICA INSURANCE 2 965 770 26,11% 31
49 59 WOOLWORTHS HOLDINGS (WHL) SOUTH AFRICA RETAIL 2 955 564 39,42% 169
50 55 THE ARAB CONTRACTORS EGYPT CONSTRUCTION 2 764 000 22,90% 223
51 60 TIGER BRANDS SOUTH AFRICA AGRIBUSINESS 2 754 427 31,09% 335
52 66 NAMPAK SOUTH AFRICA PACKAGING 2 640 531 35,41% 27
53 53 OFFICE NATIONAL DE L’ELECTRICITE MOROCCO ELECTRICITY 2 409 408 5,71% 0
54 57 EGYPTAIR HOLDINGS EGYPT DIVERSIFIED 2 354 814 8,48% 103
55 74 MEDI CLINIC CORP. SOUTH AFRICA HEALTH 2 310 950 33,78% 142
56 26 EZZ STEEL CO. (EX-AL EZZ STEEL REBARS) EGYPT METAL, STEEL 2 280 671 -41,37% 55
57 65 MC CARTHY RETAIL SOUTH AFRICA AUTO DEALER 2 219 676 13,57% 0
58 47 OANDO NIGERIA PETROLEUM SERVICES 2 209 799 -8,16% 66
59 80 PIONEER FOODS GROUP SOUTH AFRICA AGRIBUSINESS 2 195 397 39,61% 75
60 85 MASSCASH SOUTH AFRICA RETAIL 2 051 381 42,66% 0
61 84 EXXARO RESOURCES SOUTH AFRICA MINING 2 023 513 38,36% 137
62 101 WILSON BAYLY HOLMES – OVCON SOUTH AFRICA CONSTRUCTION 1 991 131 74,77% 129
63 67 ORASCOM TELECOM ALGERIE (OTA) ALGERIA TELECOMS 1 867 837 -0,93% 0
64 72 SOC. NAT. DE L’ELECTRICITE ET DU GAZ ALGERIA ELECTRICITY, GAS 1 826 891 3,54% 62
65 68 TELECOM EGYPT EGYPT TELECOMS 1 804 409 -0,08% 553
66 76 EGYPTAIR AIRLINES EGYPT AIR TRANSPORT 1 796 608 8,63% 37
67 69 CEVITAL ALGERIA AGRIBUSINESS 1 788 067 -0,65% 255
68 42 SOCIETE IVOIRIENNE DE RAFFINAGE COTE D’IVOIRE REFINERY 1 780 416 -34,68% -80
69 89 JD GROUP SOUTH AFRICA RETAIL 1 742 144 30,77% 10
70 94 SANTAM SOUTH AFRICA INSURANCE 1 738 369 40,44% 150
71 97 NEW CLICKS HOLDINGS SOUTH AFRICA RETAIL 1 719 522 44,27% 63
72 48 SOC. TUN. DES IND. DE RAFFINAGE TUNISIA REFINERY 1 718 115 -28,28% 0
73 64 EL SEWEDY CABLES EGYPT ELEC. CABLES 1 683 111 -17,62% 114
74 45 AKWA HOLDING MOROCCO DIVERSIFIED 1 655 339 -32,89% 0
75 134 HOSKEN CONSOLIDATED INVESTMENTS SOUTH AFRICA DIVERSIFIED 1 636 266 92,17% 179
76 63 AL EZZ DEKHEILA STEEL CO. EGYPT METAL, STEEL 1 635 339 -21,29% 104
77 122 GROUP FIVE HOLDINGS SOUTH AFRICA CONSTRUCTION 1 630 006 73,36% 72
78 ALTADIS MAROC MOROCCO TOBACCO 1 618 821 ND 0
79 96 REMGRO SOUTH AFRICA DIVERSIFIED 1 597 482 32,00% 426
80 117 HARMONY GOLD MINING CO. SOUTH AFRICA MINING 1 549 891 59,28% 394
81 82 ROYAL AIR MAROC MOROCCO AIR TRANSPORT 1 542 539 3,18% 0
82 86 SOC. TUN. DE L’ELECTRICITE ET DU GAZ TUNISIA ELECTRICITY, GAS 1 539 765 9,12% 6
83 49 MIDDLE EAST OIL REFINERIES EGYPT REFINERY 1 518 093 -36,57% 172
84 106 MASSDISCOUNTERS SOUTH AFRICA RETAIL 1 510 793 37,41% 87
85 142 MONDI GROUP SOUTH AFRICA SOUTH AFRICA PAPER 1 501 490 81,66% -10
86 151 TONGAAT-HULETT GROUP SOUTH AFRICA AGRIBUSINESS 1 501 356 99,98% 408
87 108 MASSWAREHOUSE SOUTH AFRICA RETAIL 1 496 826 40,22% 0
88 114 DISTELL GROUP SOUTH AFRICA BEVERAGES 1 464 648 47,33% 128
89 81 AECI SOUTH AFRICA CHEMICALS 1 443 787 -4,70% 56
90 99 REUNERT SOUTH AFRICA ELECTRICAL EQUIPMENT 1 384 709 20,01% 158
91 107 METROPOLITAN LIFE SOUTH AFRICA INSURANCE 1 380 557 25,59% 154
92 87 AFRICAN RAINBOW MINERALS SOUTH AFRICA MINING 1 360 873 -0,29% 386
93 125 GRINAKER – LTA SOUTH AFRICA CONSTRUCTION 1 325 415 42,84% 0
94 77 ZAIN NIGERIA NIGERIA TELECOMS 1 306 500 -20,51% -125
95 124 MR PRICE GROUP SOUTH AFRICA RETAIL 1 303 477 39,30% 90
96 90 SUPER GROUP SOUTH AFRICA AUTOMOBILE 1 247 622 -4,87% -182
97 118 ALLIED TECHNOLOGIES SOUTH AFRICA ELECTRICAL EQUIPMENT 1 240 344 28,11% 70
98 79 KENOLKOBIL KENYA PETROLEUM 1 221 230 -23,71% 16
99 103 SOC. NAT. DE TELECOM. DU SENEGAL SENEGAL TELECOMS 1 204 020 7,50% 395
100 92 SHELL MAROC MOROCCO PETROLEUM SERVICES 1 199 970 -7,61% 46
101 132 ASTRAL FOODS SOUTH AFRICA AGRIBUSINESS 1 190 951 37,74% 46
102 98 OMNIA HOLDINGS SOUTH AFRICA CHEMICALS 1 190 056 1,38% 7
103 119 ASSORE SOUTH AFRICA MINING 1 188 931 22,87% 437
104 105 AFGRI SOUTH AFRICA AGRIBUSINESS 1 183 777 5,93% 47
105 129 FLOUR MILLS NIGERIA NIGERIA AGRIBUSINESS 1 181 246 30,53% 25
106 93 TOTAL NIGERIA NIGERIA PETROLEUM 1 171 421 -6,85% 26
107 109 FOSCHINI SOUTH AFRICA RETAIL 1 160 153 9,93% 146
108 115 SUEZ CEMENT CO. EGYPT CONST. MATERIALS 1 155 827 16,83% 235
109 127 ILLOVO SUGAR SOUTH AFRICA AGRIBUSINESS 1 141 642 25,63% 89
110 210 ASPEN PHARMACARE HOLDINGS SOUTH AFRICA PHARMACEUTICALS 1 125 787 118,30% 180
111 71 TOTAL GABON GABON PETROLEUM 1 119 903 -36,79% 140
112 78 PETROSA SOUTH AFRICA PETROLEUM 1 090 716 ND -65
113 146 SUN INTERNATIONAL SOUTH AFRICA TOURISM 1 084 088 34,70% 67
114 111 NIGERIAN BREWERIES NIGERIA BEVERAGES 1 077 552 4,50% 183
115 LIFE HEALTHCARE GROUP SOUTH AFRICA INSURANCE 1 069 078 ND 150
116 449 EQSTRA HOLDINGS SOUTH AFRICA AUTO DEALER 1 063 595 478,24% 6
117 56 LONMIN SOUTH AFRICA MINING 1 062 000 -52,40% -323
118 139 SAFARICOM KENYA TELECOMS 1 060 427 26,44% 191
119 73 SOCIETE NAT. DES HYDROCARBURES CAMEROON PETROLEUM 1 056 000 -39,82% 24
120 100 AFRICAN PETROLEUM NIGERIA PETROLEUM 1 048 668 -9,02% 60
121 104 ALEXANDRIA MINERAL OILS CO. EGYPT PETROLEUM 1 024 775 -8,32% 100
122 75 SOCIETE NATIONALE DE RAFFINAGE CAMEROON REFINERY 1 008 460 -40,16% 0
123 158 ANGLOVAAL INDUSTRIES SOUTH AFRICA AGRIBUSINESS 1 006 081 42,97% 68
124 150 NATIONAL PORTS AUTHORITY SOUTH AFRICA SEA TRANSPORT 1 005 892 33,91% 0
125 131 ZAIN SUDAN SUDAN TELECOMS 994 300 14,26% 351
126 170 STEFANUTTI & BRESSAN SOUTH AFRICA DIVERSIFIED 992 952 48,79% 51
127 145 JULIUS BERGER NIGERIA NIGERIA CONSTRUCTION 973 675 20,45% 21
128 123 MARJANE HOLDING MOROCCO RETAIL 969 724 3,22% 35
129 128 ETHIOPIAN AIRLINES ETHIOPIA AIR TRANSPORT 947 176 4,62% 104
130 192 TRUWORTHS INTERNATIONAL SOUTH AFRICA RETAIL 945 627 58,39% 194
131 70 MOBINIL EGYPT TELECOMS 944 133 -47,12% 0
132 156 RAINBOW CHICKEN SOUTH AFRICA AGRIBUSINESS 937 375 30,26% 47
133 144 MUTUAL & FEDERAL INSURANCE SOUTH AFRICA INSURANCE 926 753 14,38% 0
134 172 PRETORIA PORTLAND CEMENT CO. SOUTH AFRICA CONST. MATERIALS 914 484 38,54% 138
135 120 TOTAL MAROC MOROCCO PETROLEUM SERVICES 905 808 -6,26% 0
136 133 KENYA AIRWAYS KENYA AIR TRANSPORT 893 484 4,53% 25
137 130 CHEMICAL SERVICES SOUTH AFRICA CHEMICALS 879 566 -1,29% 65
138 162 CMH GROUP SOUTH AFRICA AUTO DEALER 877 344 26,17% 7
139 110 TALAAT MOUSTAFA GROUP EGYPT REAL ESTATE 873 554 -16,38% 200
140 121 SOC. NAT. DE DISTR. DES PETROLES AGIL TUNISIA PETROLEUM SERVICES 851 943 -10,67% 0
141 188 CLOVER HOLDINGS SOUTH AFRICA AGRIBUSINESS 844 327 39,34% 72
142 216 KENYA POWER AND LIGHTING KENYA ELECTRICITY 838 165 68,16% 40
143 141 MONDI SHANDUKA NEWSPRINT* SOUTH AFRICA MEDIA 835 005 ND 0
144 165 COSIDER ALGERIA CONSTRUCTION 821 318 19,24% 152
145 143 ALGERIE TELECOM ALGERIA TELECOMS 774 816 -5,60% 34
146 126 GHABBOUR AUTO EGYPT AUTOMOBILE 771 445 -16,77% 36
147 179 MTN GHANA GHANA TELECOMS 764 025 19,59% 0
148 189 EGYPTIAN SUGAR AND INT. INDUSTRIES EGYPT AGRIBUSINESS 755 981 ND 53
149 191 MASSBUILD SOUTH AFRICA CONSTRUCTION 755 612 26,30% 0
150 182 DOUJA PROMOTION MOROCCO REAL ESTATE 754 446 20,85% 128
151 260 MURRAY & ROBERTS CONSTRUCTION SOUTH AFRICA CONSTRUCTION 752 161 92,42% 19
152 163 SOCIETE TUNISIENNE DE L’AIR TUNISIA AIR TRANSPORT 748 631 7,76% 40
153 153 AIR ALGERIE ALGERIA AIR TRANSPORT 744 435 0,10% 0
154 227 BUSINESS CONNEXION GROUP SOUTH AFRICA ICT 740 988 57,81% 14
155 155 TUNISIANA TUNISIA TELECOMS 719 601 -1,02% 0
156 168 EASTERN CO. EGYPT TOBACCO 718 654 5,42% 150
157 207 CENTRALE LAITI�RE MOROCCO AGRIBUSINESS 716 171 34,83% 76
158 157 COMP. SUCRI�RE MAROC. DE RAFFINAGE MOROCCO AGRIBUSINESS 714 791 0,68% 69
159 169 MONDI PACKAGING SOUTH AFRICA SOUTH AFRICA PACKAGING 713 121 6,84% 0
160 220 PALABORA MINING CO. SOUTH AFRICA MINING 712 372 46,44% 38
161 159 HOLDING POULINA TUNISIA DIVERSIFIED 706 431 0,61% 56
162 232 DISCOVERY HEALTH SOUTH AFRICA INSURANCE 699 177 54,15% 165
163 112 SOCIETE NATIONALE DE SIDERURGIE MOROCCO METAL, STEEL 689 593 -32,22% 43
164 241 CASHBUILD SOUTH AFRICA CONST. MATERIALS 682 977 59,87% 23
165 186 LAFARGE CIMENTS MOROCCO CONST. MATERIALS 682 819 11,54% 233
166 148 JORF LASFAR ENERGY CO. MOROCCO ELECTRICITY 682 017 -10,70% 0
167 213 ADCORP HOLDINGS SOUTH AFRICA EDUCATION 680 889 33,24% 14
168 154 CARGILL COTE D’IVOIRE COTE D’IVOIRE AGRIBUSINESS 670 846 -8,06% 2
169 152 CONOIL NIGERIA PETROLEUM SERVICES 668 156 ND 15
170 164 AURECON HERITAGE COMPANIES SOUTH AFRICA ENGINEERING 668 000 -3,24% 0
171 222 RENAULT MAROC MOROCCO AUTOMOBILE 659 701 36,40% 0
172 177 MEDI TELECOM MOROCCO TELECOMS 657 317 1,47% 0
173 190 AFRICAN OXYGEN SOUTH AFRICA CHEMICALS 646 462 7,99% 31
174 178 EGYPTIAN FERTILIZERS CO.* EGYPT CHEMICALS 644 434 ND 405
175 185 ORIENTAL WEAVERS FOR CARPETS EGYPT TEXTILES 643 233 4,71% 56
176 199 TRIDENT STEEL SOUTH AFRICA METAL, STEEL 642 296 13,97% 0
177 211 AVUSA SOUTH AFRICA MEDIA 635 272 23,34% 24
178 137 SIFCA (GROUPE) COTE D’IVOIRE AGRIBUSINESS 632 047 -25,13% 37
179 234 RAND WATER SOUTH AFRICA WATER 630 545 39,63% 80
180 276 BASIL READ HOLDINGS SOUTH AFRICA CONSTRUCTION 628 597 71,23% 36
181 173 GROUPE OPTORG MOROCCO RETAIL 620 971 -5,05% 12
182 237 RAUBEX SOUTH AFRICA CIV. ENGINEERING 617 864 40,49% 79
183 184 EGYPTIAN CEMENT CO.* EGYPT CONST. MATERIALS 615 581 ND 266
184 218 KAP INTERNATIONAL HOLDINGS SOUTH AFRICA DIVERSIFIED 615 345 26,06% -5
185 395 HOLDING D’AMENAGEMENT AL OMRANE MOROCCO REAL ESTATE 611 011 167,10% 73
186 181 LYONNAISE DES EAUX DE CASABLANCA MOROCCO WATER, ELECTRICITY 609 986 -2,71% 27
187 187 UNITED PHARMACISTS CO.* EGYPT PHARMACEUTICALS 607 309 ND 10
188 149 HULAMIN SOUTH AFRICA METAL 606 634 -19,35% 12
189 208 COMPAGNIE IVOIRIENNE D’ELECTRICITE COTE D’IVOIRE ELECTRICITY 605 720 15,67% 12
190 171 GROUPE ELLOUMI TUNISIA DIVERSIFIED 596 808 ND 0
191 194 SOUTH AFRICAN POST OFFICE* SOUTH AFRICA POSTAL SERVICES 588 981 ND 38
192 147 ALUMINIUM CO. OF EGYPT EGYPT METAL, STEEL 588 737 -26,24% 35
193 217 GUINNESS NIGERIA NIGERIA BEVERAGES 584 811 19,26% 88
194 204 VEOLIA ENVIRONNEMENT MOROCCO WATER 580 140 7,05% 0
195 206 SOC. NAT. BURKIN. D’HYDROCARBURES BURKINA FASO PETROLEUM SERVICES 577 543 8,68% 52
196 239 ZURICH INSURANCE CO. SOUTH AFRICA SOUTH AFRICA INSURANCE 574 972 32,21% -24
197 136 HIGHVELD STEEL & VANADIUM CORP. SOUTH AFRICA METAL, STEEL 573 255 -32,36% 21
198 212 SONATEL MOBILES SENEGAL TELECOMS 570 514 10,86% 0
199 198 NIGERIAN BOTTLING CO.* NIGERIA BEVERAGES 567 687 ND 15
200 ADCOCK INGRAM SOUTH AFRICA PHARMACEUTICALS 554 820 ND 106
201 253 LEWIS GROUP SOUTH AFRICA RETAIL 554 191 37,78% 79
202 174 SUDANESE TELECOM CO. SUDAN TELECOMS 550 340 -15,79% 38
203 201 TARKWA MINES* GHANA MINING 550 302 ND 82
204 202 EL ARABIA FOR PROJECTS & CONSTRUCTION* EGYPT CONSTRUCTION 550 081 ND 155
205 229 CTP HOLDINGS SOUTH AFRICA MEDIA 543 073 18,37% 123
206 231 PHARMACIE CENTRALE DE TUNISIE TUNISIA PHARMACEUTICALS 540 926 18,55% 22
207 197 DANGOTE SUGAR REFINERY NIGERIA AGRIBUSINESS 540 511 -5,48% 86
208 209 WAFA ASSURANCE MOROCCO INSURANCE 539 347 4,22% 84
209 258 AFRICAN REINSURANCE CORP. NIGERIA INSURANCE 536 382 36,32% 44
210 224 INVICTA HOLDINGS SOUTH AFRICA AUTOMOBILE 535 083 11,96% 49
211 245 DISTRIBUTION & WAREHOUSING NETWORK SOUTH AFRICA RETAIL 533 517 28,31% 15
212 180 AIR MAURITIUS MAURITIUS AIR TRANSPORT 532 763 -15,66% 83
213 219 ILIAD AFRICA SOUTH AFRICA CONST. MATERIALS 528 563 8,50% 10
214 215 RMA WATANIYA MOROCCO INSURANCE 527 828 5,87% 127
215 ALEXANDRIA NAT. REF & PETRO. CO. EGYPT REFINERY 522 222 ND 47
216 176 TOTAL KENYA KENYA PETROLEUM SERVICES 521 765 -20,00% 6
217 CDG DEVELOPPEMENT MOROCCO DIVERSIFIED 521 154 ND 25
218 116 SOCIETE AFRICAINE DE RAFFINAGE SENEGAL REFINERY 520 812 -46,85% 0
219 VOLTA RIVER AUTHORITY GHANA ELECTRICITY 519 943 ND -53
220 140 SOC. NAT. INDUSTRIELLE ET MINI�RE MAURITANIA MINING 518 504 -38,13% 121
221 257 SOC. EG. D’ENT. – MOKHTAR IBRAHIM EGYPT CONSTRUCTION 516 246 31,16% 24
222 205 SA DES BRASSERIES DU CAMEROUN CAMEROON BEVERAGES 515 457 -4,88% 40
223 PETROLE DU MAGHREB MOROCCO PETROLEUM SERVICES 501 960 ND 0
224 200 LESIEUR CRISTAL MOROCCO AGRIBUSINESS 501 220 -10,53% 36
225 214 NATIONAL NAVIGATION CO.* EGYPT SEA TRANSPORT 499 224 ND 62
226 230 SOCIETE NATIONALE D’ELECTRICITE SENEGAL ELECTRICITY 488 716 6,63% 12
227 223 OLYMPIC GROUP EGYPT DIVERSIFIED 476 229 -1,45% 28
228 251 SOC. MAROC. DE CONST. AUTOMOBILES MOROCCO AUTOMOBILE 474 368 17,08% 0
229 270 GROUPE LOUKIL TUNISIA DIVERSIFIED 469 986 24,33% 26
230 255 BRITISH AMERICAN INVESTMENT CO. MAURITIUS DIVERSIFIED 469 479 18,06% 3
231 283 MUSTEK SOUTH AFRICA ICT 469 430 30,35% 7
232 221 LIBYA OIL MAROC MOROCCO PETROLEUM SERVICES 465 462 -3,76% 6
233 304 MURRAY & ROBERTS CEMENTATION SOUTH AFRICA CONST. MATERIALS 463 916 46,37% 28
234 228 GROUPE TTS* TUNISIA TOURISM 462 191 ND 45
235 CATOCA SOCIEDADE MINEIRA ANGOLA MINING 461 510 ND 0
236 238 CIMENTS DU MAROC MOROCCO CONST. MATERIALS 452 726 3,51% 120
237 236 METAIR INVESTMENTS SOUTH AFRICA AUTOMOBILE 450 576 2,02% 7
238 277 NESTLE NIGERIA NIGERIA AGRIBUSINESS 448 160 22,18% 64
239 282 SOC. NAT. D’OPERATIONS PETROLIÃ�RES COTE D’IVOIRE PETROLEUM 448 005 24,27% 69
240 254 ABU QIR FERTILIZERS & CHEMICAL IND. EGYPT CHEMICALS 446 672 11,12% 196
241 303 OCEANA GROUP SOUTH AFRICA AGRIBUSINESS 445 080 40,31% 29
242 342 HOLCIM MOROCCO CONST. MATERIALS 444 579 61,54% 96
243 292 MTN COTE D’IVOIRE COTE D’IVOIRE TELECOMS 441 198 ND 34
244 246 OFFICE NATIONAL DE L’EAU POTABLE MOROCCO WATER 437 709 5,67% 15
245 SHELL TUNISIE TUNISIA PETROLEUM SERVICES 436 954 ND 6
246 167 NAMDEB DIAMOND CORP. NAMIBIA MINING 434 988 ND -53
247 262 EAST AFRICAN BREWERIES KENYA BEVERAGES 434 573 12,41% 90
248 311 GROWTHPOINT PROPERTIES SOUTH AFRICA REAL ESTATE 432 907 40,33% 0
249 249 COMP. MAROCAINE DES HYDROCARBS. MOROCCO PETROLEUM 431 686 5,32% 0
250 183 TOTAL SENEGAL SENEGAL PETROLEUM SERVICES 429 618 -31,02% 0
251 248 NORTHAM PLATINUM SOUTH AFRICA MINING 429 542 4,62% 85
252 265 MTN CAMEROUN CAMEROON TELECOMS 427 144 11,61% 0
253 CONCOR SOUTH AFRICA CONSTRUCTION 425 492 ND 45
254 264 IRELAND BLYTH MAURITIUS CONSTRUCTION 421 626 10,11% 45
255 247 CEMEX – ASSIUT CEMENT* EGYPT CONST. MATERIALS 413 321 ND 102
256 196 PZ CUSSONS NIGERIA NIGERIA PHARMACEUTICALS 411 101 -28,38% 34
257 334 COMAIR SOUTH AFRICA AIR TRANSPORT 411 037 44,71% 9
258 226 MOBIL OIL NIGERIA NIGERIA PETROLEUM 406 930 -13,99% 18
259 MOOLMANS SOUTH AFRICA MINING 406 617 ND 0
260 349 GIJIMA AST GROUP SOUTH AFRICA ICT 406 393 52,96% 14
261 319 DANGOTE FLOUR MILLS NIGERIA AGRIBUSINESS 402 705 34,61% 36
262 256 SOC. D’EXPL. DES MIN. D’OR DE SADIOLA* MALI MINING 396 208 ND 79
263 259 HOLDING MAROCAINE COMM. ET FIN. MOROCCO DIVERSIFIED 393 699 0,70% 0
264 TANZANIA BREWERIES TANZANIA BEVERAGES 390 548 ND 64
265 SANIA CIE COTE D’IVOIRE AGRIBUSINESS 385 868 ND 8
266 285 AXA ASSURANCE MAROC MOROCCO INSURANCE 384 146 7,58% 0
267 330 ASTRAPAK SOUTH AFRICA PAPER 382 636 31,71% 17
268 175 EGYPTIAN IRON & STEEL CO. EGYPT METAL, STEEL 382 436 -41,42% 32
269 287 SOC. FRIG. ET BRASS. DE TUNIS TUNISIA BEVERAGES 382 098 8,66% 56
270 352 PINNACLE TECHNOLOGY HOLDINGS SOUTH AFRICA ICT 382 042 44,86% 14
271 88 COMPAGNIE MINIÃ�RE DE L’OGOOUE GABON MINING 380 920 -71,55% 10
272 298 BAMBURI CEMENT KENYA CONST. MATERIALS 378 824 15,90% 88
273 271 GROUPE MABROUK* TUNISIA DIVERSIFIED 375 765 ND 0
274 326 MERAFE RESOURCES SOUTH AFRICA MINING 374 975 27,61% 138
275 320 PROCTER & GAMBLE MAROC MOROCCO CHEMICALS 373 982 25,08% 0
276 243 TOTAL PETROLEUM GHANA GHANA PETROLEUM SERVICES 373 648 ND 9
277 268 UAC OF NIGERIA NIGERIA CONSTRUCTION 370 613 -2,26% 26
278 284 NOUVELAIR TUNISIE TUNISIA AIR TRANSPORT 365 973 2,08% 22
279 244 AUTO HALL MOROCCO AUTOMOBILE 365 575 -12,98% 26
280 279 SIEMENS EGYPT* EGYPT ELECTRICAL EQUIPMENT 364 857 ND 0
281 195 BELL EQUIPMENT SOUTH AFRICA AUTOMOBILE 363 899 -36,90% -35
282 280 HELWAN PORTLAND CEMENT* EGYPT CONST. MATERIALS 363 462 ND 94
283 301 ORANGE MALI MALI TELECOMS 360 387 12,75% 157
284 441 CIE. NORD AFR. ET INT. D’ASSURANCES MOROCCO INSURANCE 355 137 84,71% 0
285 318 CIEL GROUP MAURITIUS DIVERSIFIED 354 316 17,89% 18
286 290 CAIRO POULTRY EGYPT AGRIBUSINESS 350 564 0,08% 37
287 289 AFRIQUIA GAZ MOROCCO ENERGY 350 311 0,01% 36
288 250 SEARDEL INVESTMENT CORP. SOUTH AFRICA TEXTILES 348 769 -14,64% -27
289 288 AES AFRICAN POWER CO. CAMEROON ELECTRICITY 345 563 -1,44% 0
290 291 CHEVRON OIL CO. NIGERIA* NIGERIA PETROLEUM SERVICES 345 142 ND -1
291 225 WATANIYA TELECOM ALGERIE ALGERIA TELECOMS 344 248 -27,93% 1
292 378 WANA CORP. MOROCCO TELECOMS 341 458 42,02% 0
293 348 PEERMONT GLOBAL SOUTH AFRICA TOURISM 341 432 27,21% -28
294 273 MVELAPHANDA GROUP SOUTH AFRICA DIVERSIFIED 338 977 -9,34% 214
295 261 RAYA HOLDING FOR TELECOMM. EGYPT ELECTRICAL EQUIPMENT 338 721 -12,80% 7
296 278 OF. NAT. DES CHEM. DE FER DU MAROC MOROCCO TRANSPORT 335 309 -8,18% -44
297 314 SOCIETE CENTRALE DE REASSURANCE MOROCCO INSURANCE 334 919 10,13% 0
298 275 SOCIETE DES MINES DE MORILA MALI MINING 330 577 -10,80% 91
299 295 ALEXANDRIA REAL ESTATE INV. CO.* EGYPT REAL ESTATE 329 179 ND 72
300 310 SOC. MAROC. DE CARBURANTS – ZIZ MOROCCO PETROLEUM SERVICES 327 989 6,28% 0
301 389 CIC HOLDINGS NAMIBIA RETAIL 326 495 40,55% 7
302 328 HUDACO INDUSTRIES SOUTH AFRICA AUTOMOBILE 326 306 11,68% 32
303 325 GROUPE MON LOISIR MAURITIUS DIVERSIFIED 324 658 10,38% 38
304 300 DELTA INDUSTRIAL CO.* EGYPT ELECTRICAL EQUIPMENT 323 751 ND 32
305 346 FOOD AND ALLIED GROUP OF COMPANIES MAURITIUS AGRIBUSINESS 323 637 19,30% 16
306 329 SOC. NAT. DES TAB. ET DES ALLUMETTES ALGERIA TOBACCO 323 617 11,33% 157
307 235 EGYPT KUWAIT HOLDING CO. EGYPT DIVERSIFIED 322 116 -28,42% 158
308 267 ZAIN RDC DR CONGO TELECOMS 321 600 -15,63% -7
309 305 VODACOM TANZANIA TANZANIA TELECOMS 320 467 1,96% 0
310 366 PRESS CORPORATION MALAWI DIVERSIFIED 319 603 25,58% 38
311 SOC. BURKINABE DES FIBRES TEXTILES BURKINA FASO COTTON 316 467 ND -109
312 SOC. GENERALE DES TRAVAUX DU MAROC MOROCCO CONSTRUCTION 316 289 ND 0
313 321 CECAGADIS GABON RETAIL 316 132 6,39% 18
314 266 ENT. NAT. DE TRAVAUX AUX PUITS ALGERIA PETROLEUM 315 678 -17,30% 62
315 363 HIDROELECTRICA DE CAHORA BASSA MOZAMBIQUE WATER, ELECTRICITY 313 745 22,08% -55
316 337 ENTREPRISE NATIONALE DE FORAGE ALGERIA PETROLEUM 309 868 ND 17
317 269 SIDI KERIR PETROCHEMICALS CO. EGYPT PETROLEUM 304 872 -19,41% 137
318 383 KELLY GROUP SOUTH AFRICA HUMAN RESOURCES 304 284 28,98% 7
319 315 TOTAL MARKETING GABON* GABON PETROLEUM SERVICES 302 375 ND 0
320 SOCIETE DES MINES DE LOULO MALI MINING 301 960 ND 91
321 453 COUNTRY BIRD HOLDINGS SOUTH AFRICA AGRIBUSINESS 301 862 69,14% 16
322 444 PRODUCE BUYING CO. GHANA AGRIBUSINESS 301 298 59,19% 3
323 390 GOLD REEF CASINO RESORTS SOUTH AFRICA CASINOS 300 545 29,48% 48
324 286 ZAIN ZAMBIA ZAMBIA TELECOMS 300 100 -15,18% 53
325 331 OFFICE NATIONAL DES AEROPORTS MOROCCO AIR TRANSPORT 299 294 3,27% 61
326 SOCIETE MAGASIN GENERAL TUNISIA RETAIL 299 246 115,56% -1
327 312 LAFARGE W. AFRICAN PORT. CEMENT CO. NIGERIA CONST. MATERIALS 299 070 -2,51% 33
328 347 COTE D’IVOIRE TELECOM COTE D’IVOIRE TELECOMS 298 776 10,37% 0
329 299 SOC. DE PROM. IND. AUTO. AU MAROC MOROCCO AUTOMOBILE 298 064 -8,45% 10
330 274 SOC. D’EXPL. DES PORTS MARSA MAROC MOROCCO SEA TRANSPORT 297 788 -19,79% 49
331 322 DIANA HOLDING* MOROCCO DIVERSIFIED 296 463 ND 15
332 385 SNMVT – MONOPRIX TUNISIA RETAIL 295 422 25,86% 11
333 309 TOTAL COTE D’IVOIRE COTE D’IVOIRE PETROLEUM SERVICES 294 201 -4,89% 11
334 240 SALAM GAZ MOROCCO PETROLEUM SERVICES 294 190 -31,68% 13
335 METRO MAROC MOROCCO RETAIL 293 145 ND 0
336 351 UNILEVER NIGERIA NIGERIA CHEMICALS 291 795 10,06% 26
337 302 GHANA OIL CO. GHANA PETROLEUM SERVICES 290 371 ND 3
338 341 ORANGE CAMEROUN CAMEROON TELECOMS 289 824 5,19% 0
339 339 COOPERATIVE COPAG TAROUDANT MOROCCO AGRIBUSINESS 288 376 3,96% 0
340 333 NORTH AFRICA BOTTLING CO.* MOROCCO BEVERAGES 286 811 ND 0
341 353 SOCIETE D’ENERGIE ET D’EAU DU GABON GABON WATER, ELECTRICITY 284 620 8,00% 8
342 ALLIANCES DEVELOPPEMENT IMMOBILIER MOROCCO REAL ESTATE 284 235 ND 45
343 335 MCEL MOCAMBIQUE* MOZAMBIQUE TELECOMS 281 385 ND 0
344 434 VOX TELECOM SOUTH AFRICA TELECOMS 280 767 43,90% 8
345 356 GROUPE MANAGEM MOROCCO MINING 278 902 7,10% 2
346 338 UNILEVER MAGHREB* MOROCCO CHEMICALS 277 813 ND 0
347 343 EUROFIND* COTE D’IVOIRE DIVERSIFIED 274 950 ND 0
348 485 SINAI CEMENT CO. EGYPT CONST. MATERIALS 274 108 69,44% 121
349 297 ZAIN TANZANIA TANZANIA TELECOMS 272 300 -16,93% 6
350 391 OUTSPAN IVOIRE COTE D’IVOIRE AGRIBUSINESS 272 184 17,48% 808
351 345 MANTRAC* EGYPT AUTO DEALER 271 430 ND 3
352 394 ENTREPRISE NAT. DE GEOPHYSIQUE ALGERIA PETROLEUM SERVICES 270 332 ND 75
353 233 SHELL SENEGAL SENEGAL PETROLEUM SERVICES 270 083 -40,24% 0
354 412 SEVEN-UP BOTTLING CO. NIGERIA AGRIBUSINESS 269 413 24,31% 12
355 479 SANYATI HOLDINGS SOUTH AFRICA CIV. ENGINEERING 269 258 65,17% 7
356 306 SHELL MAURITIUS MAURITIUS PETROLEUM SERVICES 269 118 -14,09% 8
357 358 PETROMINS-OIL DU MAROC MOROCCO PETROLEUM SERVICES 268 759 4,11% 0
358 432 TOURAH CEMENT CO. EGYPT CONST. MATERIALS 265 787 33,81% 61
359 350 DELICES DANONE* TUNISIA AGRIBUSINESS 265 290 ND 0
360 392 SOCOCIM INDUSTRIES SENEGAL CONST. MATERIALS 264 508 14,63% 0
361 323 TRENCOR SOUTH AFRICA SEA TRANSPORT 263 978 -10,89% 34
362 354 ALGERIE POSTE* ALGERIA POSTAL SERVICES 262 382 ND 1
363 372 ROGERS GROUP MAURITIUS CONSTRUCTION 261 849 6,24% 18
364 370 SOC. NIGERIENNE DE PROD. PETROLIERS NIGER PETROLEUM SERVICES 260 874 5,36% 11
365 426 DRDGOLD SOUTH AFRICA MINING 257 606 26,13% 17
366 360 COMARIT* MOROCCO SEA TRANSPORT 257 575 ND 0
367 402 MAGHREBAIL MOROCCO FINANCE 256 928 14,28% 9
368 344 ZAIN GABON GABON TELECOMS 256 400 -5,98% 19
369 252 SOCIETE MULTINATIONALE DE BITUMES COTE D’IVOIRE REFINERY 256 008 -36,68% -4
370 365 ARAB CABLES CO.* EGYPT ELEC. CABLES 254 705 ND 7
371 384 NESTLE COTE D’IVOIRE COTE D’IVOIRE AGRIBUSINESS 253 532 7,73% 7
372 308 VODACOM CONGO DR CONGO TELECOMS 251 035 -18,85% 0
373 ESORFRANKI SOUTH AFRICA CIV. ENGINEERING 250 471 ND 26
374 403 SOCIETE NATIONALE D’ASSURANCES ALGERIA INSURANCE 250 199 11,48% 21
375 397 ROYAL SWAZILAND SUGAR CORP. SWAZILAND AGRIBUSINESS 249 726 ND 21
376 362 MARIDIVE AND OIL SERVICES EGYPT PETROLEUM SERVICES 246 980 -3,95% 71
377 407 DELTA HOLDING MOROCCO DIVERSIFIED 246 647 11,07% 29
378 409 SOC. DE LIM. ET BRASS. D’AFRIQUE COTE D’IVOIRE BEVERAGES 245 460 10,67% 30
379 BUILDMAX SOUTH AFRICA CONST. MATERIALS 243 429 ND -135
380 SOCIETE ENNAKL TUNISIA AUTOMOBILE 243 288 ND 16
381 377 SEFALANA HOLDING CO.* BOTSWANA AGRIBUSINESS 241 583 ND 9
382 463 TOTAL BURKINA BURKINA FASO PETROLEUM SERVICES 241 368 39,25% 5
383 399 COOPER MAROC PHARMACEUTICALS MOROCCO PHARMACEUTICALS 240 313 6,33% 0
384 SOC. CEN. DE BOISSONS GAZEUSES MOROCCO BEVERAGES 240 291 ND 0
385 398 SOC. IV. DE PROM. DE SUPERMARCHES COTE D’IVOIRE RETAIL 237 381 4,91% 2
386 451 NATIONAL CEMENT CO. EGYPT CONST. MATERIALS 237 247 30,92% 49
387 421 BRITISH AMERICAN TOBACCO KENYA KENYA TOBACCO 236 434 13,95% 18
388 380 NEW MAURITIUS HOTELS MAURITIUS TOURISM 236 267 -1,66% 38
389 388 GROUPE ACIMA MOROCCO RETAIL 236 034 1,54% -2
390 369 COMPAGNIE DU KOMO GABON DIVERSIFIED 235 935 -5,42% 15
391 414 TOGO TELECOM TOGO TELECOMS 235 034 9,49% 62
392 PALMERAIES KOUTOUBIA MOROCCO AGRIBUSINESS 234 941 ND 0
393 WEST AFRICAN CEMENT CO. TOGO CONST. MATERIALS 234 931 ND 26
394 SOC. NAT. DE VEHICULES INDUSTRIELS ALGERIA AUTOMOBILE 234 313 ND 0
395 386 AMREYAH CEMENT* EGYPT CONST. MATERIALS 233 838 ND 72
396 393 BIOPHARM ALGERIA PHARMACEUTICALS 233 181 1,16% 12
397 450 ILLOVO MALAWI MALAWI AGRIBUSINESS 230 717 25,53% 85
398 LABEL VIE MOROCCO RETAIL 230 449 62,14% 9
399 296 INT. TRADING OIL & COMMODITIES CORP. SENEGAL PETROLEUM SERVICES 229 909 -30,10% 0
400 BENUE CEMENT CO. NIGERIA CONST. MATERIALS 229 679 96,92% 94
401 430 MAURITIUS TELECOM MAURITIUS TELECOMS 227 639 13,03% 46
402 GROUPE ONE TECH TUNISIA ELEC. CABLES 227 533 ND 0
403 281 METMAR SOUTH AFRICA METAL, STEEL 227 119 -37,48% 21
404 336 PETROLEOS DE MOCAMBIQUE MOZAMBIQUE PETROLEUM SERVICES 226 846 -19,14% 190
405 478 FAMOUS BRANDS SOUTH AFRICA TOURISM 225 733 37,91% 25
406 400 GROUPE BOUSSARSAR* TUNISIA TOURISM 225 459 ND 0
407 373 STARCOMMS NIGERIA TELECOMS 225 034 -7,99% -51
408 418 CENTRALE AUTOMOBILE CHERIFIENNE MOROCCO AUTO DEALER 222 812 6,01% 0
409 427 EGYPTIAN INTERNATIONAL TOURISM CO. EGYPT TOURISM 220 867 8,70% 28
410 429 SEFALANA CASH AND CARRY BOTSWANA RETAIL 220 839 9,27% 5
411 ENT. NAT. DE GRANDS TRAVAUX PETROL. ALGERIA PETROLEUM 220 631 ND 3
412 437 CIEL TEXTILE MAURITIUS TEXTILES 219 061 13,22% 1
413 DELPHI AUTOMOTIVE SYST�ME MAROC MOROCCO ELEC. CABLES 216 890 ND 0
414 438 SOCIETE DES BRASSERIES DU GABON GABON BEVERAGES 215 408 11,42% 18
415 404 SOCIETE DES MINES DE L’AÃ�R NIGER MINING 214 998 -4,19% 34
416 420 BRASSERIES DU MAROC MOROCCO BEVERAGES 214 707 2,65% 9
417 DISWAY MOROCCO RETAIL 212 947 ND 9
418 371 TOTAL MAURITIUS MAURITIUS PETROLEUM SERVICES 212 683 -13,91% 6
419 433 IND. PROM. SERVICES WEST AFRICA COTE D’IVOIRE DIVERSIFIED 212 470 8,04% 0
420 416 LG ELECTRONICS MOROCCO* MOROCCO ELECTRICAL EQUIPMENT 212 284 ND 0
421 376 GILPLAIT ALGERIA DAIRY 211 801 -12,38% -33
422 482 LES GRANDS TRAVAUX ROUTIERS MOROCCO CONSTRUCTION 211 160 29,76% 0
423 NSIA PARTICIPATIONS S.A COTE D’IVOIRE DIVERSIFIED 210 969 65,50% 15
424 445 ENERGIE DU MALI MALI WATER, ELECTRICITY 210 328 11,44% -847
425 419 SOC. DE TRAD. ET D’EXP. DE PET. BRUT* CAMEROON PETROLEUM SERVICES 210 167 ND 0
426 461 OFFICE NATIONAL DES TELECOM. BURKINA FASO TELECOMS 208 336 19,62% 21
427 480 PEREGRINE HOLDINGS SOUTH AFRICA FINANCE 208 282 27,89% 66
428 396 ZAIN CONGO CONGO TELECOMS 208 100 -8,77% 12
429 401 PALM HILLS DEVELOPMENT CO. EGYPT REAL ESTATE 207 572 -7,90% 86
430 355 MISR REFRIG. AND AIR COND. CO. EGYPT ELECTRICAL EQUIPMENT 205 712 -21,57% 20
431 425 SAN STEFANO REAL ESTATE* EGYPT TOURISM 204 595 ND 18
432 411 CARTHAGE POWER CO. TUNISIA ELECTRICITY 203 647 -6,13% 23
433 NAMIBIA BREWERIES NAMIBIA BEVERAGES 203 481 43,25% 21
434 382 UNIVERS ACIER MOROCCO METAL, STEEL 202 660 -14,79% 0
435 317 MAGHREB STEEL MOROCCO METAL, STEEL 202 448 -32,69% -27
436 COMPAGNIE GENERALE IMMOBILI�RE MOROCCO REAL ESTATE 201 699 36,16% 69
437 431 SANTOVA LOGISTICS SOUTH AFRICA TRANSPORT 201 336 1,08% 505
438 UMGENI WATER-AMANZI SOUTH AFRICA WATER 201 244 47,77% 71
439 375 PALM-CI COTE D’IVOIRE AGRIBUSINESS 200 122 -17,90% 5
440 471 RADEEMA MOROCCO WATER 199 245 17,35% 34
441 446 CIMENTERIES DU CAMEROUN CAMEROON CONST. MATERIALS 198 513 7,26% 22
442 UPPER EGYPT FLOUR MILLS EGYPT AGRIBUSINESS 198 066 ND 17
443 ZAMBIA SUGAR ZAMBIA AGRIBUSINESS 197 929 85,86% 35
444 HELWAN FERTILIZER CO. EGYPT CHEMICALS 197 578 ND 81
445 424 ARGENT INDUSTRIAL SOUTH AFRICA CONST. MATERIALS 197 443 -4,13% 1
446 NAMIBIAN POWER CORP. NAMIBIA ELECTRICITY 196 715 51,64% 80
447 EGYPTAIR MAINTENANCE & ENGINEERING EGYPT AIR TRANSPORT 196 229 ND 28
448 422 NU WORLD HOLDINGS SOUTH AFRICA TRANSPORT 194 559 -6,13% 3
449 498 CERAMIC INDUSTRIES SOUTH AFRICA CONST. MATERIALS 194 167 25,05% 12
450 BSI STEEL SOUTH AFRICA METAL, STEEL 193 746 ND 3
451 468 CERVEJAS DE MOCAMBIQUE MOZAMBIQUE BEVERAGES 192 708 11,95% 0
452 447 CURRIMJEE GROUP MAURITIUS DIVERSIFIED 191 999 3,97% 0
453 440 LECICO EGYPT EGYPT CONST. MATERIALS 191 171 -0,89% 19
454 473 JAN DE NUL (PACIFIC) MAURITIUS PETROLEUM 189 250 12,60% 58
455 374 TOYOTA MAROC MOROCCO AUTO DEALER 188 937 -22,59% 0
456 COMP. DE DISTR. DE COTE D’IVOIRE COTE D’IVOIRE RETAIL 187 126 ND 2
457 BOTSWANA INSURANCE HOLDINGS BOTSWANA INSURANCE 186 935 51,39% 34
458 406 COMPAGNIE TUNISIENNE DE NAVIGATION TUNISIA SEA TRANSPORT 185 836 -16,46% 2
459 413 RECTRON HOLDINGS SOUTH AFRICA ICT 184 299 ND 8
460 415 NEXANS MAROC MOROCCO ELECTRICAL EQUIPMENT 183 634 -14,20% 6
461 313 UNILEVER COTE D’IVOIRE COTE D’IVOIRE COSMETICS 183 552 -40,15% 9
462 455 OFF. DE L’AVIATION CIV. ET DES AEROPORTS TUNISIA AIR TRANSPORT 182 825 3,61% 56
463 448 SUNEOR SENEGAL AGRIBUSINESS 182 756 -0,90% -6
464 483 EGYPTIAN INT. PHARMA. INDUSTRIES CO. EGYPT PHARMACEUTICALS 181 975 12,02% 51
465 DELTA SUGAR EGYPT AGRIBUSINESS 181 166 38,33% 18
466 ALEXANDRIA PORTLAND CEMENT EGYPT CONST. MATERIALS 180 975 38,34% 52
467 428 SHELL COTE D’IVOIRE COTE D’IVOIRE PETROLEUM 180 755 -10,69% 2
468 452 ISLAMIC. CO. FOR PHARMA. CHEMICALS* EGYPT PHARMACEUTICALS 179 653 ND 59
469 COMP. ALGERIENNE DES ASSURANCES ALGERIA INSURANCE 179 357 ND 11
470 381 SOCIETE TUNISIENNE DE SIDERURGIE TUNISIA METAL, STEEL 179 307 -24,86% -12
471 COMP. ALG. D’ASS. ET DE REASSURANCE ALGERIA INSURANCE 178 214 17,70% 14
472 MED COM TUNISIA ELECTRICAL EQUIPMENT 177 550 15,81% 3
473 494 SOC. NAT. AUTOROUTES DU MAROC MOROCCO CIV. ENGINEERING 176 062 12,52% 0
474 465 ITALTILE SOUTH AFRICA CONST. MATERIALS 175 670 1,70% 34
475 459 COSMIVOIRE* COTE D’IVOIRE COSMETICS 175 545 ND 25
476 460 EL NASR MINING CO.* EGYPT MINING 175 388 ND 83
477 488 DATACENTRIX HOLDINGS SOUTH AFRICA ICT 174 023 8,84% 10
478 436 MIDDLE & WEST DELTA FLOUR MILLS EGYPT AGRIBUSINESS 173 865 -10,68% 6
479 ENGEN BOTSWANA BOTSWANA PETROLEUM SERVICES 173 601 ND 13
480 467 DAMANG MINES* GHANA MINING 172 196 ND 15
481 469 MTN SOUDAN* SUDAN TELECOMS 172 104 ND 0
482 CENTRALE LAITI�RE DU CAP BON TUNISIA DAIRY 170 514 ND 3
483 CIPLA MEDPRO SOUTH AFRICA PHARMACEUTICALS 170 151 61,88% 21
484 477 COMPAGNIE MAURICIENNE DE TEXTILE MAURITIUS TEXTILES 169 623 3,49% 22
485 EOH HOLDINGS SOUTH AFRICA ICT 169 208 68,42% 10
486 472 CKG HOLDING* COTE D’IVOIRE DIVERSIFIED 169 200 ND 0
487 1TIME HOLDINGS SOUTH AFRICA AIR TRANSPORT 168 668 52,11% 5
488 UCS GROUP SOUTH AFRICA ICT 168 204 29,89% 3
489 ELB GROUP SOUTH AFRICA CONSTRUCTION 167 961 48,66% 7
490 466 CADBURY NIGERIA NIGERIA AGRIBUSINESS 167 844 -2,57% -8
491 SEMOULERIE INDUSTRIELLE DE LA MITIDJA ALGERIA AGRIBUSINESS 167 821 ND 0
492 359 METOREX SOUTH AFRICA MINING 167 409 -35,02% -203
493 CFAO MOTORS MAROC MOROCCO AUTO DEALER 165 985 ND 0
494 361 INDUSTRIES CHIMIQUES DU SENEGAL SENEGAL MINING 165 466 -35,66% 0
495 476 CASA GRAINS* MOROCCO AGRIBUSINESS 165 417 ND 0
496 491 LEONI TUNISIE TUNISIA AUTOMOBILE 163 795 3,44% 7
497 AGRA (CO-OPERATIVE) NAMIBIA AGRIBUSINESS 162 933 ND 3
498 481 BARID AL MAGHRIB* MOROCCO POSTAL SERVICES 162 826 ND 34
499 407 SOC. AFR. DE PLANTATIONS D’HEVEAS COTE D’IVOIRE AGRIBUSINESS 161 803 -27,10% 13
500 486 MOQUETTE MAC (EX – MISR AMERICA CARPET)* EGYPT TEXTILES 161 390 ND 14
2009 RESULTS IN THOUSANDS OF DOLLARS – *IN ITALICS 2008 RESULTS – ND: NO DATA
Country Profile: SUDAN
FRIDAY, 12 NOVEMBER 2010 00:00

This country profile was published in November 2010 in our annual ‘Africa in 2011’ issue. The next edition, ‘Africa in 2012’ will be on sale in November 2011.

One word sums up the issue that will dominate Sudan in the coming months: referendum. In fact, two referenda are scheduled for 9 January 2011: the Southern Sudanese will vote on whether the south should secede from the north, and the people of Abyei will choose whether to stay in northern Sudan or to join the south. If Khartoum allows the polls to go ahead, southerners are expected to vote for independence. As The Africa Report went to press, Khartoum was trying to delay both polls.
As Sudan stands on the brink of division, fear of war is being voiced even by normally-cautious church leaders.

Although it signed the Comprehensive Peace Agreement (CPA) of 2005 which envisaged the possibility of secession, the National Congress Party (NCP) government in Khartoum does not want the south to secede. The other CPA signatory, the Sudan People’s Liberation Movement/Army, governs the semi-autonomous south and it expects the referendum to lead to secession, so it does not want war or any delays. Sudan
The CPA stipulates that the referenda in the south and Abyei be held simultaneously. This has enabled Khartoum to block the overall process by attempting to delay the Abyei vote. This obstruction is being aided by Ahmed Mohamed Haroun, the governor of South Kordofan, where Abyei lies.

Haroun is wanted by the International Criminal Court (ICC) for crimes against humanity and war crimes in Darfur. 
The politics of destabilisation will persist. Except for strongman Hassan al-Turabi, who lurks in the wings, the same people who launched the Islamist party’s 1989 coup against the government of Sadig al-Mahdi now rule: Vice-President Ali Osman Mohamed Taha, Nafi’e Ali Nafi’e, Awad Ahmed al Jaz, Mustafa Osman Ismail, Gutbi al-Mahdi, General Bakri Hassan Salih, General Abdel Rahim Mohamed Hussein and President Omer Hassan Ahmed el Beshir. In 1989, Field Marshal Omer was merely a frontman to keep the army in line for the party, but he has since gained ground.

Nevertheless, it is the party that rules and Beshir is circumscribed less by the ICC arrest warrants for genocide, war crimes and crimes against humanity than by the NCP’s organisation, dedication and financial clout. Operationally, the regime can easily survive without him. Politically though, his arrest would have a major impact, raising the hopes of the public and the opposition. Yet African, Arab, Asian and Western governments appear to tolerate the NCP, partly because they fear national instability.
For ordinary people in Darfur and the South, instability is a way of life. They live in fear of being attacked either by anti-government rebels or, more often, by the regime’s regular or irregular forces.

The Government of South Sudan, headed by President Salva Kiir Mayardit, has meanwhile persuaded some renegades (including Lam Akol Ajawin and General George Athor Deng) to come into the tent.
In Darfur, the Khartoum government has a new strategy which involves forcing hundreds of thousands of displaced people out of refugee camps, which afford them a little protection, and into new areas determined by the regime. The UN and foreign governments have essentially left Darfur alone and this may continue as Washington, London and others seek to protect the CPA

Fighting by insurgent groups is therefore likely to increase and Khartoum will respond with increased force. Many think the government forces are too weak to fight a war in the south and the west, but Khartoum has repeatedly shown its organisational skills as proxy forces enable it to pursue several goals at once.
The prospect of the independence of Southern Sudan in January 2011 is causing Sudanese policy makers to re-evaluate their economic strategies. With both the northern and the southern governments reliant on oil exports, agreeing a deal on how to manage them will be crucial for both Juba and Khartoum. The north would have a difficult period of adjustment if the south, where most of the oil is located, votes for independence.

Negotiations on future revenue-sharing terms have already begun. A division of the north and south is also likely to lead to the northern government’s having to bear sole responsibility for the country’s more than $37bn in external debt.
Revenue sharing and transparency were a cause of conflict between Juba and Khartoum in 2010. After UK-based NGO Global Witness reported that there were millions of dollars of discrepancies between the northern government’s and the oil companies’ production statistics, Energy Minister Lual Deng announced in August that the government would order an independent audit and publish daily production figures. 
The oil sector continues to attract the most investor interest.

In late 2010, the petroleum ministry announced targets to double production from about 470,000 barrels per day (bpd) to 1m bpd in 2013. New projects and improved techniques should boost production to close to 600,000 bpd in 2011. 
To try to meet the medium-term goal, the ­Petrodar consortium of Asian companies has started work to drill new wells on Blocks 3 and 7. The risk posed by the prospect of southern independence has not stopped new investors. Luxembourg’s Star Petroleum and Norway’s Hamla signed an exploration agreement for Block E, in Southern Sudan, in August.

At the same time, Finnish company Fenno Caledonian signed a deal to explore for oil and gas at Block 10 in the northeast.
Based on assumptions that unity will remain the status quo, the IMF predicts strong economic growth of 5.5% and 6.2% in 2010 and 2011. Growth is hampered by a growing fiscal deficit and a strong reliance on oil exports to generate revenue.
In late 2010, the government in Khartoum suggested several different strategies to help diversify the economy away from oil, a trend that will become increasingly necessary based on the estimated longevity of the country’s oil reserves. The IMF estimates that production will peak at around 547,000 bpd in 2012 before a gradual descent to about 151,000 bpd by 2030.

The Sudanese government is working with the French state-owned Bureau de Recherches Géologiques et Minières to map the country’s geological resources so as to attract more international investment. In September, mining minister Abdel Baqi al-Jailani said that Sudan would attempt to double gold production to more than 40tn per year by 2012 through licensing small-scale producers and inviting interest from foreign mining companies. Sudan_graphLeasing land for export-focused agriculture is also an area targeted for revenue creation.
The banking sector is still a drag on the overall economy due to persistent high rates of non-performing loans which are due in part to government arrears, but also to the sector’s weakness in comparison to regional competitors. 
Deposits and credit to the private sector both doubled over the 2005-2009 period, but from low levels. State-owned banks represent the majority of business in the sector, but also the majority of bad loans. The government has continued to drag its feet over the rehabilitation of Omdurman National Bank, the worst offender

The modalities of separation

It has been nearly six years since a peace deal ended the north-south war in Sudan, but with southerners finally set to vote on whether to become an independent country, many details have yet to be worked out. 
An estimated 8 million people live in Sudan’s southern region, most of whom are expected to register to vote in the January 9 referendum. A north-south referendum commission continues to squabble over the details, and there are still no firm logistical guidelines for voting day.

At least 2 million southerners living in the north and abroad should also qualify to vote, but there is no clear method to determine which members of the diaspora qualify as southerners, leaving the vote open to manipulation. Setting up polling stations is proving to be a burden, with much of the region difficult to access. Southern Sudan has only 60km of asphalt roads and any delay could push proceedings into the rainy season, when many roads become impassable. 
A delay could also prove explosive. The 9 January poll has huge symbolic value in the south, where independence is widely seen as a foregone conclusion. Should the south opt for independence, Sudan will enter a six-month transition period until 9 July, allowing time to negotiate the modalities of separation.

Sudan’s Top Companies

Rank 2010

The Afrique report
TOP 500 companies the africa report
Rank 2009

TOP 500 companies
The Afrique report
Company name

Country

Sector

TOP 500 companies egypt
Turnover (Thds $)

TOP 500 companies tunisia
Turnover change

Net profits

125 131 ZAIN SUDAN SUDAN TELECOMS 994 300 14,26% 351
202 174 SUDANESE TELECOM CO. SUDAN TELECOMS 550 340 -15,79% 38
481 469 MTN SOUDAN* SUDAN TELECOMS 172 104 ND 0
2009 RESULTS IN THOUSANDS OF DOLLARS – *IN ITALICS 2008 RESULTS – ND: NO DATA

Sudan’s Top Banks

Rank 2010

The Afrique report
TOP 500 companies the africa report
Rank 2009

TOP 500 companies
The Afrique report
Company name

Country

TOTAL ASSETS

TOP 500 companies egypt
NET EARNINGS

TOP 500 companies
CREDIT

TOP 500 companies tunisia
DEPOSITS

101 100 BANK OF KHARTOUM* SUDAN 1 300 341 62 624
124 143 FAISAL ISLAMIC BANK SUDAN SUDAN 1 030 760 66 351
164 TADAMON ISLAMIC BANK* SUDAN 581 961 44 923 208 582
187 FARMER’S COMMERCIAL BANK SUDAN 427 779 6 735 224 336 351 338
200 194 ISLAMIC CO-OPERATIVE DEVELOPMENT BANK SUDAN 379 535 27 673 237 111
FIGURES FOR 2009. US$ THOUSANDS. *2008 FIGURES.

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