South Africa’s companies are not just doing great in influencing the economic growth of the country but also for that of the entire continent.
Interestingly, majority of South Africa’s biggest companies were ranked as the biggest and most influential in the world.
When the economic growth of a country comes in question, the first thing that comes to mind is the input made by companies located in that country.
The South Africa economy has been built on the back of prestigious companies most of which are not just important to the country but to the African continent.
Forbes’2016 ranking has 13 South African companies making it again in the list with some making significant movements among the top-ranked businesses.
According to businesstech, Forbes’ 2000 biggest companies listing is formulated by analyzing listed companies from across the world and ranking the top 2000 in four categories: sales, profits, assets and market value.
Each company is scored based on where they place on each respective list, and the final top 2000 list is compiled based on a final, aggregated score.
Standard Bank for instance, made it once more as South Africa’s biggest company, ranked 317th overall, up from 326th in 2015. The bank out-shined its peer in South Africa for having the highest value in assets – $127.7 billion (R2 trillion) – far higher than its closest rival in that category, FirstRand, with $73.5 billion.
The bank also recorded the highest profits at $1.9 billion (R29.8 billion), but was outdone by two other companies in the remaining metrics.
However, only three companies were able to reach the top 500 as majority of South African companies dropped in the ranking from their place in 2015.
Internet and media group Naspers has the highest market value by far at $60 billion (R940.6 billion), while RMB Holdings has the highest sales at $32 billion (R501.6 billion).
Following standard bank group is Steinhoff International, which is now the second biggest company in South Africa while MTN which occupied the third position last year, dropped to the fifth.
Here is the list of Biggest Companies In south Africa According to World Ranking
|317||Standard Bank Group|
The 2016 list features public companies from 63 countries that together account for $35 trillion in revenue, $2.4 trillion in profit, $162 trillion of assets, and have a combined market value of $44 trillion, Forbes said. But the Global 2000 ranking has a Chinese banking group, ICBC on the leading role.