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Safaricom tops East Africa’s list of most valuable firms

4 years ago
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Safaricom tops East Africa’s list of most valuable firms

Kenyan companies have dominated the latest quarterly market report of The East Africa & Mauritius Top 30 Companies.

According to the report ­- a compilation of the most valuable brands by market capitalisation – by analysts at AfricanFinancials Group, Kenya dominated the list with 14 companies, followed by Mauritius with eight, Tanzania with six, Uganda and Rwanda with one each.East Africa Top 30 Companies by Market CapitalisationEast Africa Top 30 Companies by Market Capitalisation.

The report noted that Safaricom is the most valuable brand in East Africa and Mauritius, with a market capitalisation of $15.4 billion, accounting for 49% of the market capitalisation of the Top 30 companies.

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The network operator was followed by Mauritius Commercial Bank ($1.59 billion), Equity Bank ($1.53 billion), Tanzania Breweries ($1.38 billion ), East African Breweries Ltd ($1.32 billion), KCB Bank ($1.26 billion), Co-operative Bank ($750 million), Tanzanian Vodacom ($744 million), Tanzania Cigarette ($733 million) and Mauritian Ireland Blyth ($633 million) to round up the top 10.

Safaricom’s shares have soared following its recent announcement of securing a telecommunications licence to operate in Africa’s second-most populous country. In Q2 2021, Safaricom’s share price rose 12 per cent to Ksh41.45 ($0.38) per share, translating to a market capitalisation of $15.39 billion, with a return on equity of 11.5 per cent, partly buoyed by its Ethiopian entry plan.

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On a yearly basis, the telco’s stock has increased by 43 per cent, signalling the company’s resilience amid Covid-triggered shocks, which have impacted other companies’ earnings and the shareholder wealth.

Business Daily reported that the company’s share price hit a new record last Thursday, earning investors Sh78.13 billion in a week and lifting the Nairobi Securities Exchange (NSE) to a 39-month high.

Source: businessinsiderafrica
Via: norvanreports
Tags: COVID-19 pandemicKenyan companiesSafaricom tops East Africa’s list of most valuable firms
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