East Africa: leading companies by market value 2023

Kenya's Safaricom ranked as the leading company in East Africa as of March 2023, according to market value. The telecommunications enterprise registered a market cap of approximately 5.5 billion U.S. dollars. Second in the ranking, Tanzania Breweries in Tanzania had a market value of around 13.7 billion U.S. dollars. To follow, Equity Group Holding recorded a market value of nearly 1.3 billion U.S. dollars.

Leading companies in East Africa in 2023, by market value (in million U.S. dollars)

Characteristic	Market value in million U.S. dollars
Safaricom (Kenya)	5,473
Tanzania Breweries (Tanzania)	1,374
Equity Group Holdings (Kenya)	1,296
East African Breweries (Kenya)	1,015
MTN Uganda (Uganda)	1,008
KCB Group (Kenya)	861
NMB Bank (Tanzania)	748
Vodacom Tanzania (Tanzania)	737
Tanzania Ciggarette Co. (Tanzania)	726
Co-operative Bank of Kenya (Kenya)	582
CRDB Bank (Tanzania)	530
Absa Bank Kenya (Kenya)	525
Standard Chartered Bank Kenya (Kenya)	485
NCBA Group (Kenya)	456
British American Tobacco Kenya (Kenya)	350
Stanbic (Kenya)	328
Tanzania Portland Cement (Tanzania)	311
Stanbic Bank Uganda (Uganda)	285
I&M Holdings (Kenya)	260
BK Group Plc (Kenya)	215

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Release date

March 2023

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Region

Africa

Survey time period

March 31, 2023

Supplementary notes

The source adds the following information:
"Data relates to listed companies only. Listed companies with less than 50% of their revenues in Africa and companies that are not listed or dual-listed on an African exchange were excluded. The Top 250 survey excludes companies that have African heritage and roots but no longer earn at least 50% of their revenues in Africa. One significant example is Prosus, which emerged as Europe’s largest listed consumer internet company when it became an entity independent from its parent, South Africa’s Naspers. It listed on Euronext Amsterdam and the JSE in September 2019. Companies with more than 50% of their revenues from Africa are excluded if they are not listed on an African stock exchange".

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