The 7 Most Successful Financial Companies In Africa Region

The 7 Most Successful Financial Companies In Africa Region


For companies looking to invest in the continent, Africa boasts a young, expanding workforce that is ideal. Africa is the continent with the fastest population increase, and at the turn of the century, only that region will experience population growth. It is also the most youthful continent, with approximately 60% of the population under 25. 


With its headquarters in Cape Town, Naspers Limited is a multinational internet, technology, and multimedia holding corporation with interests in publishing, online retail, and venture capital investing. The main shareholder of Naspers is its Dutch-listed investment subsidiary Proses, which, as part of a cross-ownership arrangement, controls about 49% of its parent.  

  • With interests in newspapers, journals, and books, Naspers was the leading publishing firm in South Africa for much of the 20th century after being founded in 1915 by lawyer W. A. Hofmeyr. The business started to diversify in the 1980s when it introduced a pay-TV service and made its first investments outside of South Africa. 
  • In 2001, Naspers invested in Tencent, a Chinese technology company, and shifted its attention to the global consumer internet. 


MTN Group, a telecommunications company, climbs from position rank this year to the position of top 7 after more than tripling its market capitalization to $24.5 billion from $11.1 billion in 2021. 

By listing its operations in Nigeria, Ghana, Uganda, Rwanda, and other nations, the corporation has raised money while also fostering the growth of local capital markets. The money was invested in brand-new networks, infrastructure, and data centers. MTN operates branches in Nigeria, Scancom, and Ghana. MTN Uganda is a brand-new addition to the list. 


Kenyan mobile network operator Safaricom PLC has its corporate headquarters at Safaricom House in Nairobi. It is one of the most successful businesses in East and Central Africa and the biggest telecommunications operator in Kenya. The business provides services for mobile phone calls, mobile money transfers, consumer electronics, e-commerce, cloud computing, data, music streaming, and fiber optics. It is most known for being the origin of the SMS-based mobile banking service MPESA. 

  • With an anticipated subscriber base of 35.6 million as of 2020, Safaricom is estimated to have 64.5% of the market in Kenya. 
  • Safaricom has a 69.2% and a 92.2% market share in the voice and SMS markets, respectively. 

EGHL Equity Group Holdings Limited

A financial services holding firm with its headquarters in the African Great Lakes region is called Equity Group Holdings Limited (EGHL), formerly known as Equity Bank Group. Nairobi, Kenya serves as the home base for EGHL, which also has subsidiaries in Uganda, Tanzania, South Sudan, Rwanda, the Democratic Republic of the Congo, and Ethiopia. The largest financial services group in East and Central Africa is called EGHL. Its assets surpassed KSh 1.119 trillion ($10.1 billion) as of August 2021. Additionally, the firm had KSh790.6 billion (US$7.61 billion) in deposits from more than 14 million customers in six African Great Lakes nations. 


In Tanzania, Tanganyika Breweries, today known as Tanzania Breweries Limited, was established in 1933. (now part of Tanzania). In 1935, Nairobi-based Kenya Breweries Limited (KBL) purchased Tanganyika Breweries. The operations of KBL and Tanganyika Breweries were combined in 1936, resulting in the establishment of East African Breweries Limited. 

  • The agreement between EABL and TBL was terminated in 2010 with the option for EABL to purchase a 51% stake in Serengeti Breweries, the second-largest brewer in Tanzania. In 2011, EABL sold its 20% stake in TBL for US$71.5 million via a secondary offer on the DSE. 
  • On March 14, 2013, the TBL paid TSh 8,816 million for 60% of Darbrew Limited’s share capital to take over the business and gain control. 


Kenya Commercial Bank Limited (KCB Bank) is a financial services organization in Kenya that provides goods and services to the commercial sector. The banking organization utilizes an agency banking model and provides a comprehensive range of services for business and corporate clients. In Mombasa, the National Bank of India branch that is now its parent firm, KCB Group, was established. In 1958, Grindlays Bank and National Bank of India combined to establish National & Grindlays Bank. Kenya Commercial Group was renamed National & Grindlays Bank in 1970 after the Kenyan government acquired a 60% share in the company and fully assumed control. After a corporate restructuring, it was given the new name KCB Bank Kenya. The KCB Group’s wholly-owned subsidiary, KCB Bank Kenya, is a company. 


The holding business East African Breweries Limited, sometimes known as EABL, is situated in Kenya and produces branded liquor, beer, and non-alcoholic drinks. Two white settlers, George and Charles Hurst, established East African Breweries Limited in 1922 as Kenya Breweries Limited (KBL). The Kenyan Dodd family owned the business. When there is a need for emergency aid or a tragedy, the EABL Foundation undertakes unique projects. The foundation most recently participated in the Save A Life Fund, where it gave more than KSh.14 million/= (about US$194,000) to famine relief. 

In the summary

Although the geographic and industry focus of successful African enterprises varies greatly, they all share the creativity to recognize the continent’s unfulfilled needs as opportunities for entrepreneurship and the dedication needed to create organizations of significant size. The most lucrative and rapidly expanding companies in Africa frequently view obstacles as opportunities for innovation. 

Successful African entrepreneurs are also acutely aware of the challenges facing their companies and take care to include long-term resilience in their business models. Take the Nigerian company Dangote Industries, whose founder Aliko Dangote is now the richest man in Africa. Dangote Industries produces commodities in large quantities. By vertically integrating the supply chain, generating power on-site, and maintaining a strong relationship with suppliers, Dangote has created a shockproof manufacturing model. 

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