Rédaction Africa Links 24 with Amina Aouadi
Published on 2024-03-25 16:38:08
Despite global economic turbulence and currency fluctuations, the African continent is showing some economic resilience. This is evidenced by the combined turnover of the top 500 African companies, which is close to $760 billion in 2024, according to the annual ranking by Jeune Afrique magazine: “500 African champions 2024.”
The energy and mining sectors are doing well, with Algerian oil giant Sonatrach leading the ranking. The Algerian oil giant retains its position as the African leader with a turnover of $77.325 billion and a net profit of $11.847 billion.
Algeria stands out in this ranking with 13 companies, including 10 state-owned enterprises. Sonatrach’s subsidiary, Naftal, ranks 41st in Africa with a turnover of $4.013 billion, followed by electricity and gas operator Sonelgaz, which enters the ranking in 46th place.
Cevital advances 24 places in the “500 African champions 2024” ranking
Cevital, the leading private industry in Algeria, ranks 4th nationally and 73rd continentally. The Issad Rebrab Group has experienced rapid growth, gaining 24 places compared to the 2023 edition.
Cevital is followed by the pharmaceutical group Biopharm, the second Algerian private company in the ranking (254th in Africa).
Furthermore, the three Algerian mobile operators, Mobilis, Djezzy, and Ooredoo, are also in the ranking of the top 500 African companies. They rank 147th, 239th, and 251st respectively, with turnovers of $1.051 billion, $683 million, and $633 million, respectively.
Construction and public works group, Cosider, also had a good performance in 2024. It climbed five places in the ranking to reach the 115th position. The company recorded a respectable turnover of $1.380 billion and a net profit of $277 million.
Jeune Afrique’s Ranking Methodology
Every year, Jeune Afrique provides a panorama of the most performing companies on the continent. To compile this exclusive ranking, the editorial staff collects the 2022 turnovers of nearly 1,300 companies from a database of over 15,000 entities. Only African companies, holdings, and their subsidiaries are taken into account, except in the extractive sector where some may be listed outside Africa.
All figures come from identifiable or certified sources. Family groups without consolidated accounts or that do not publish any financial information are excluded.
The exercise considered is the one closed at the end of 2022 or until June 2023. The data is then converted into US dollars at the exchange rate on the closing day of the exercise. In case of absence of recent data, the figures from the previous ranking are used. After two years without publication of accounts, the company is removed from the ranking.
For countries experiencing hyperinflation, such as Zimbabwe, the “inflation-adjusted turnover” is used.
Read the original article(French) on Algerie 360
