Economic growth on the African continent is expected to stall in 20 22, as it struggles to pick up momentum amid a slowdown in global economic activity, rising financial risks, high inflation, outbreaks of new coronavirus variants, and increasingly vulnerable debt levels.
Despite these challenges, Africa’s 54 nations include some of the world’s fastest-growing economies and are home to some of the wealthiest countries in the world.
With a GDP of 2.19 trillion US dollars, Africa’s 1.4 billion-person population is one of the most diverse continents on earth endowed with plenty of natural resources, and economic opportunities, and is a big market for consumer products.
The African economy is projected to reach a GDP of 29 trillion US dollars by 20 50, making Africa the second-fastest-growing economy in the world after Asia.
All these impressive numbers do bring a lot of questions to mind, with the biggest of them being: “what are the richest companies in Africa?”
The African economy is a mix of trade, agriculture, and natural resources. All these come together to create an interesting mix of businesses spread across its 54 countries.
As the African economy grows, some African companies have seen their value grow steadily over time, thereby ranking as the most valued in Africa.
Companies that dominate Africa’s business landscape are flourishing, mostly driven by excellent strategy, top management, and well-placed investing.
The most dynamic of them are showing impressive growth, with 400 African companies earning revenues of 1 billion dollars or more, according to McKinsey. Nearly 700 companies report revenues above 500 million dollars.
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