BIGGEST BUSINESSES IN AFRICA

BIGGEST BUSINESSES IN AFRICA

In a survey conducted recently, it was revealed that there are 438 businesses with yearly revenue of $1 billion. Of this total, 25% are wholly-owned subsidiaries group companies of non-resident domicile transnationals, 50% are local entities, 40% are traded publicly, and 60% are owned by private entities. We shall be giving you a random selection of Africa’s largest businesses in this list, which is positioned by size.

Sonatrach

Sonatrach runs the Algerian nation’s economic gas and oil industry. The Algerian government owns it. This international oil conglomerate was founded in December 1963. Sonatrach’s headquarter is located in Hydra, Algeria, near Algiers. During the fiscal year ending in 2010, the business had around 120,000 employees and earned $76.1 billion in profits. This business is Algeria’s and Africa’s biggest oil Venture Company. It is the world’s 11th largest oil joint project. Yearly, the sector accounts for 30% of the country’s GNP.

Steinhoff International

Steinhoff International was established in 1964. It is an African, European, and Australian business that produces, sources, and sells furniture and household commodities. In addition, the company owns diverse industrial companies in southern Africa, including solution provider, passenger services, wood products, and production plants in a multitude of sectors. During the fiscal year ending in 2018, the business employed more than 130,000 people. Steinhoff International’s income is expected to be 12.9 billion EUR (2017/18 – 9 months).  Sleep Number, Tempur Sealy International, and Simmons are competitors of Steinhoff International. Its head office is located in Westen Cape, Stellenbosch, South Africa.

Sonangol

Sonangol was established in 1976 to supervise Angola’s natural gas and petroleum production. Sonangol, headquartered in Luanda, Angola, is delighted to be just the only business with recognition throughout the nation. It belongs to the Angolan government. In addition, the company is located in Europe, Asia, and America. Sonangol has received numerous awards for its support of the arts and sports in its region and throughout the continent. It has received recognition just like the stellar spins casino games.

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