Dangote ranks second best performing Sub-Saharan African company

Aliko Dangote, chief executive officer of Dangote Group, gestures after signing a factory construction contract with Sinoma International Engineering Co. Ltd. in Lagos, Nigeria, on Wednesday, Aug. 26, 2015. Dangote Cement has expanded capacity five-fold in the last four years as the company invested outside its home market. Photographer: Tom Saater/Bloomberg

Dangote Group has emerged as the second-best performing company in Sub-Saharan Africa in 2023.


In a report compiled by African Financials, the business consultancy firm, South Africa’s MTN Group, Dangote, and other companies have been extraordinary all year round as they stand as the top 30 companies in Sub-Saharan Africa, aside from South Africa.

Except for South Africa, the Top 30 companies in Sub-Saharan Africa by market capitalization are included in this research, which is an update as of November 2023.

According to the research, there is a great deal of confidence in Africa’s business network since “Sub-Saharan Africa’s (excluding South Africa’s) stock markets rose by 7.2% in US$ terms in November and are down 12.8% year to date.”