The biggest companies in South Africa are some of the biggest contributors to the economy of the country, which is one of the biggest in Africa. Naturally, SA’s largest corporate organizations should tally with the biggest sectors of the economy. The services sector is also a major employer of labor, and therefore a major force in the economy by number of employees, if not by revenue or capitalization.
Many South African companies have become multinationals; they have a strong foothold in the economies of Nigeria, Ghana, Botswana, Namibia, Kenya, and so on. Many South African companies even have operations in Asia and Europe. South Africa has some of the most powerful companies in the world!
In South Africa, the largest companies usually offer more by way of chances of climbing the corporate ladder; and they are usually associated with the best wages, bonuses, and welfare packages.
Top 10 Biggest Companies In South Africa 2023
Company Value: $49 Billion
Naspers Limited currently ranks as South Africa’s largest company by value; it is worth about $50 Billion. This ranking is certainly against the tide in terms of the general economic direction of South Africa; the traditional powerhouses being mining and banking.
Naspers is an internet, technology, and multimedia company headquartered in Cape Town. The company is jointly owned by Dutch Investors, and a South African consortium, as well as the South African public. The company was actually founded as a publishing company with several interests in News Papers, Magazines, and Books. The company later diversified into Television.
Naspers has now become multinational; it has several investments outside South Africa; it has a stake in Chinese internet company Tencent, while its internet business Prosus is also a Global venture.
The company also owns Media24, and Takealot; South Africa’s biggest online retailer.
2. Anglo American Platinum
Company Value: $36.4 Billion
Anglo American is a mining corporation which was founded in Johannesburg, South Africa, and which became so large that it was listed as a British company. It was established by legendary Ernest Oppenheimer back in 1917, and today, it is the largest producer of Platinum; the company accounts for 40% of the global output.
The company’s other products include; Copper, Diamonds, Iron Ore, Metallurgical Coal, Nickel, Platinum, and Thermal Coal. Anglo-American has 90,000 employees worldwide, and is valued at 36 billion dollars. The company is listed on the London Stock Exchange, and also on the Johannesburg Stock Exchange. As the biggest producer of Platinum, this is one of the most powerful companies in the world.
Company Value: $29.7 Billion
FirstRand Group is the holding company of FirstRand Bank, a major financial services provider in South Africa. The company was established in 1838, and has grown to become the biggest financial services company in South Africa with a valuation of around 30 Billion Dollars.
FirstRand Group provides services such as banking, insurance, and investment products to private individuals, as well as corporate and public sector customers. The company is a multinational; it has operations in South Africa, Botswana, Namibia, Swaziland, Lesotho, Zambia, Ghana, Mozambique, Tanzania, and Nigeria.
The company has about 44,916 employees across its operations; it is also publicly traded on the Johannesburg Stock Exchange, as well as on the Namibian Stock Exchange.
4. MTN Group
Company Value: $ 24.5 Billion
MTN Group is the most recognizable South African company in terms of impact on the continent. This is a South African multinational mobile telecommunications company- one of the most successful in the world. MTN has around 280 million subscribers, making it the biggest mobile network operator in the world, and the 8th largest in the world.
The headquarters of the group is located in Johannesburg, while the company is present in over 20 countries; in Africa and Asia. MTN is valued at about 25 Billion dollars; and about one-third of its revenues come from Nigeria, where it holds about 35% of the market share.
The company was established in 1994, and now has about 19,288 employees, and at least two subsidiaries. The company has now expanded its operations into financial services.
5. Standard Bank Group
Company Value: $ 20.9 Billion
Standard Bank Group is a South African financial services establishment. It is South Africa’s biggest company in the financial services sector when you consider assets. It has operations in Eswatini, Mozambique, Ivory Coast, Malawi, Madagascar, Namibia, Nigeria, Tanzania, Uganda, Zimbabwe, United Kingdom, Argentina, Isle of Man, Jersey, Turkey, and Russia.
Standard Bank also operates in some countries as Stanbic Bank, and sometimes operates under existing names of financial institutions even after buying the banks. The bank was established in 1862, and is traded on the Johannesburg Stock Exchange, as well as on the London Stock Exchange.
6. Vodacom Group
Company Value: $20 Billion
Vodacom Group is a South African mobile communications company. The company currently serves around 55 Million customers, providing them with voice, messaging, data and converged services.
The company is headquartered in Midrand, South Africa, and serves Tanzania, the Democratic Republic of the Congo, Mozambique, and Lesotho. Vodacom also provides business services to customers in Nigeria, Zambia, Angola, Kenya, Ghana, Côte d’Ivoire, and Cameroon.
Vodacom is also provides financial services; the company sometimes operates under other names, and it is listed on the Johannesburg Stock Exchange.
7. Capitec Bank Holdings
Company Value: $18.6 Billion
Capitec Bank was established in 2001. A few years ago it was not even recognized as a top institution in South Africa; but now this is the fastest growing financial institution in South Africa with around 150,000 new customers every month.
The bank operates as a retail bank, and it provides its services to both individuals and businesses. It is focused on growing and expanding its business in South Africa, and has already done well to grow its market share.
The bank is traded on the Johannesburg Stock Exchange, and is one of the largest in the country in terms of number of ATMs, and availability of Mobile Banking facilities.
Company Value: $ 15.3 Billion
Sasol is an integrated company that deals on chemicals, as well as energy solutions, such as oil and gas. The company is headquartered in Sandton, South Africa. Sasol was established in 1950, in Sasolburg, South Africa; the company uses processes that were developed by German chemists and engineers in the early 1900s; and some of its processes are patented.
Sasol is listed on the Johannesburg Stock Exchange; and also on the New York Stock Exchange. The company employs 30,100 people worldwide and has operations in 33 countries. Some of its major shareholders include Industrial Development Corporation, Coronation Fund Managers, South African Government Employees Pension Fund, and many others.
9. Kumba Iron Ore
Company Value: $ 14.4 Billion
Kumba Iron Ore is a mining company in South Africa. As is evident from the name, the company specializes in the production of Iron-Ore; of which it is the fourth largest producer in the world and the largest in Africa. Kumba Iron Ore employs around 14,040 people directly, and many more indirectly.
The company is traded on the Johannesburg Stock Exchange, and is headquartered in Centurion, Gauteng, South Africa.
10. Gold Fields
Company Value: $13.9 Billion
Gold Fields Limited was formerly known as The Gold Fields of South Africa. The company is now a multinational; it has operations across South Africa, Ghana, Australia, and Peru. The company has its headquarters in Johannesburg, South Africa; from there it controls operations in other countries.
Gold Fields is one of the largest gold mining firms. The company is listed on the Johannesburg Stock Exchange (JSE) and the New York Stock Exchange (NYSE). It has about 17,611 employees.
The biggest companies in South Africa have mostly expanded beyond the South African market, even though they remain headquartered in the country. This expansion to other markets has led to the doubling of market capitalization in some cases; the new markets have brought in more revenue, and increased the value of these foremost South African companies.