Ethiopian- the only company to make it to the top 500 companies

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Ethiopian Airlines is the only Ethiopian company listed among the top 500 companies in Africa. The state owned enterprise came at the 66th rank on the basis of its $2m turnover, moving from 71st two years ago, in the latest rankings drawn up by the respected The Africa Report Magazine. In the year 2014, the company recorded a net profit of $153m.
The largest African companies based on financial performance are chronicled in the Africa Report’s top 500 companies, the most recent of which was published in February 2016 based on 2014 performances. While the majority on the list are based in South Africa the top two are found elsewhere on the continent, Algeria and Angola.
Sonatrach, the first listed company in Africa, made net profits of 5 236 140 in 2014. The company is involved in the exploration, production, pipeline, transportation, processing and marketing of hydrocarbons and their derivatives. It also does work in other industries, such as desalination of seawater and power generation and invests in or owns 18 major companies, including an airline.
The second biggest African company listed is Angolan oil giant Sonangol. Under its umbrella sits over 30 subsidiaries – most of which do business with Sonangol to help it reach its needs. These include railways, transport systems, telecommunications companies and refinery facilities located across the globe.
Morocco had forty eight companies on the list, and Egypt thirty.
The retail and utility sectors were the best performers in the magazine’s top 500 companies this year, while oil and mining showed weaknesses that will continue to influence their results in 2015 and 2016,the Africa Report wrote. South African retailers dominated the Africa region in the Africa Report, accounting for all ten of the continent’s top 10 retailers that qualified for inclusion in the list of the largest retailers.
The Africa Reports’ 500 biggest companies listing is formulated by analyzing listed companies from across the continent and ranking the top 500 in net profits, and turnover. The list was compiled using information from clearly-defined sources but mostly from the companies themselves.

Arefayné Fantahun
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