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NBL, Zennith, Ecobank are Nigeria’s topmost companies, says survey

Nigeria News Online..Assemblyonline

Nigeria Breweries Plc, Zenith Bank, and Ecobank Nigeria are the three top most companies in Nigeria, according toi a 2009 ranking of leading African companies released by African Businesss magazine

South African companies dominated the continental top ranking, as 15 of the 16 top companies on the continent are from South Africa.

Fifty four of the top 90 also came from South Africa, African Business magazine said in its latest ranking of Africa’s top companies in 2009.On the list of 200 top companies, FirstBank of Nigeria Plc, with a market value of $2.415billion ranks 34th.

Other Nigerian companies on the list are: Nigeria Breweries Plc (54th), Zenith Bank (61st), Ecobank Nigeria (62nd), African Petroleum (67th), Bank PHB(73rd) Wema Bank(78th), United Bank for Africa(UBA was 34th on the ranking in 2008 but it has fallen to 81st ), Oceanic Bank(It was also 48th last year but now 83rd) and Dangote Sugar Refinery(94th).
Intercontinental Bank Plc and Guinness Nigeria Plc also ranked 110th and 115th respectively.

Other Nigerian companies on the list are: Nestle Nigeria Ltd (134th), Mobil Oil Nigeria Plc(138th), Afribank Nigeria Plc(139th), Fidelity Bank Nigeria(143rd) and StanbicIBTC bank(150th).

Others are: First City Monument Bank(156th), National Sports Lottery Plc(161st), Spring Bank Plc(167th), Access Bank(168th), Diamond Bank(173rd), Total Nigeria Plc(178th), Benue cement Plc(180th), Julius Berger Nigeria Plc(188th) and Oando Plc(189th).

While expressing concern over Nigeria’s performance, the report also says: “Yet it is difficult to overlook the dramatic fall in Nigerian share prices. The Nigerian Stock Exchange lost more than 60% of its value between March 2008 and March 2009.”

In West Africa, Sonatel telecom of Cote d’Ivoire tops the list with $2.492 in market value.

It said: “Egypt and Moroccan firms pose some challenge in the higher reaches of our table but South Africa is in an economic league of its own in sub-Saharan Africa.”

The report said South African Anglo American group (mining and metals) is Africa’s biggest company with a market value of $23.497billion. On its website, African biggest company said it has 190,000 employees.

The top four African companies which are all South African also include: SABMiller (consumer goods) with market value of $23.317 billion; Sasol (oil & gas) limited which worth $18.604 billion and MTN Group Limited (telecoms) with a market value of $16.333billion.

In North Africa, Morocco and Egypt also top the ranking of companies in the region.

Morocco’s Itissalat Al-Maghrib, Attijariwafa and BMCE rank fifth, 15th and 18th on the list.

In East Africa, the Safaricom telecom of Kenya tops the list with $1.523billion in market value.