17 Most Valuable South African Companies In The World

Published on February 9, 2023 at 7:14 pm by Ty Haqqi in Lists, News

In this article, we will be taking a look at the 17 most valuable South African companies in the world. To skip our detailed analysis, you can go directly to see the 5 most valuable South African companies in the world.

The third largest African economy, South Africa is easily one of the richest countries in the continent. It is also the most industrialized and technologically advanced nation in Africa and one of only a few countries there to have an upper-middle-income economy. South Africa’s progression was greatly hampered by the apartheid, which led to international sanctions for 12 years, the ending of which resulted in a period of strong, consistent growth, creating one of the most diverse economies in the region as well.

One of the biggest industries in South Africa, integral to its economy, is the natural resources extraction industry, which is why you’ll see some mining companies in the most valuable South African companies in the world. Meanwhile, the financial industry is one of the biggest in South Africa as well, as it’s considered to be the financial center in Africa. In addition, state-owned enterprises in South Africa are present across most industries and are a major contributor to the country’s economy as well, managing close to $1.5 trillion in assets.

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Right now, according to PwC, there are several uncertainties that the South African economy is facing, and depending on how these uncertainties pan out, the outlook for South Africa could change significantly as well. Currently, the South African rand is quite volatile, mainly influenced by external factors including political divisions within Washington DC and the impact of global record inflation. Higher inflation results in lower disposable income for residents which in turn creates further discontent that can result in political instability, as we’re seeing in several emerging markets including Pakistan and Sri Lanka. Because of this risk, there is a smaller appetite for investors to take a position in assets in emerging markets, including the rand.

Even though inflation in South Africa peaked in July 2022 and has been on a downwards trend since, there are still concerns about inflation from a supply chain perspective, with average inflation in 2023 expected to be around 5.4%, while interest rate hikes are also slowly being phased out. In fact, the repo rates are expected to start to decline in Q4 2023. Economic growth in 2022 was just 2% and is expected to decelerate even further in 2023 to just 1.7% because of regular implementation of rolling blackouts, also known as load-shedding. The good thing is, the nation is adapting to alternates such as importing solar panels worth over R5 billion though most smaller businesses and majority of households can’t afford solar panels, thus being disproportionately impacted by load-shedding.

Employment in South Africa is continuing to improve, which is great news for its economy. In just the first three quarters of 2022, non-agricultural employment jumped by over 1.2 million, reaching just under 16 million in total for Q3 2022. Since the outbreak of Covid-19, this was the highest level of employment in the nation, and is directly linked to improving social cohesion, which is one of the biggest global risks in 2023. Meanwhile, climate change, another of the biggest global risks for 2023, is another major area of focus for South Africa which involved the nation launching its Just Energy Transition Investment Plan.

The 17 most valuable South African companies in the world have a combined market cap of over $206 billion, with the top 5 alone accounting for more than $105 billion. While mining has a strong presence in our list, the companies are from various industries, with some even listed in the U.S. We updated their latest market cap based on data from Yahoo Finance, which was then converted into U.S. dollars. So, without further ado, let’s take a look at the largest South African companies by market cap, starting with:

17. Discovery Limited

Total market cap of the company as at 7th Feb 2023 (in billions): 5.32

Discovery Limited is a financial services company which also owns subsidiaries in the United States, The United Kingdom, Singapore, Australia and China.

16. Nedbank

Total market cap of the company as at 7th Feb 2023 (in billions): 6.32

Nedbank is one of many financial services group in South Africa which offers retail and wholesale banking services.

15. Shoprite Holdings

Total market cap of the company as at 7th Feb 2023 (in billions): 7.14

Shoprite Holdings is the biggest supermarket retailer in Africa and currently has close to 3,000 stores across the continent, including 2,476 corporate stores and 513 franchise outlets. It is also one of the biggest private employers in South Africa with over 145,000 employees, and over 30 million people shopping in the stores every single day.

14. Bid Corporation

Total market cap of the company as at 7th Feb 2023 (in billions): 7.30

Bid Corporation is an international broad-line foodservice group, and currently has over 4,600 employees and more than R30 billion in revenue and over R2 billion in trading profit. Currently, Bid Corporation is considering selling its Angliss Business in Asia, after recently acquiring foodservice supplier Harvest Fine Foods.

13. Sanlam

Total market cap of the company as at 7th Feb 2023 (in billions): 7.35

Sanlam is a financial services company and is considered to be among the largest insurance companies in Africa. In February 2023, Brightrock, an insurance startup created 13 years ago, was sold 100% to Sanlam.

12. Sibanye Stillwater Limited (NYSE:SBSW)

Total market cap of the company as at 7th Feb 2023 (in billions): 7.80

Sibanye Stillwater Limited (NYSE:SBSW) is a mining and metals processing company whose projects span 5 continents. Recently, Sibanye Stillwater Limited’s (NYSE:SBSW), which is the biggest mining employer in the country, stated that business investment is currently on strike in the country because of rolling blackouts which have resulted in a lack of trust. Blackouts in South Africa in the past years crossed 200 days.

11. AngloGold Ashanti Limited (NYSE:AU)

Total market cap of the company as at 7th Feb 2023 (in billions): 8.48

AngloGold Ashanti Limited (NYSE:AU) is a global gold mining company which basically maintained its share price in the last one year. In 2021, AngloGold Ashanti Limited (NYSE:AU) produced 2.472Moz. While old is the principal product of AngloGold Ashanti Limited (NYSE:AU), its Argentinian and Brazilian operations produce sulphuric acid and silver, while Quebradona, its mine in Colombia, is a gold-copper combination. In addition to the Johannesburg Stock Exchange, AngloGold Ashanti Limited (NYSE:AU) is also listed on the Ghana, New York and Australia stock exchanges.

10. Absa Group

Total market cap of the company as at 7th Feb 2023 (in billions): 9.57

Absa Group is a financial services group whose services include providing loans, credit cards, wealth and investment management, and business banking among others. With a presence in 15 countries, the company owns banks in various African countries and representative offices in the U.S., U.K. and Czech Republic.

9. Impala Platinum Holdings

Total market cap of the company as at 7th Feb 2023 (in billions): 10.02

Impala Platinum is the holding company of various companies which operate mines that are used for the extraction and production of nickel, cobalt, copper and of course, platinum. In addition to South Africa, Impala Platinum also owns a mine in Zimbabwe and one in Ontario, Canada. With 0ver 40,000 employees, it is also one of the biggest private employers in South Africa.

8. Gold Fields Limited (NYSE:GFI)

Total market cap of the company as at 7th Feb 2023 (in billions): 10.10

Gold Fields Limited (NYSE:GFI) is one of the largest gold mining companies in the entire world, and recorded revenue of $4.4 billion in trailing twelve months. Currently, Gold Fields Limited (NYSE:GFI) owns mines in various countries including South Africa, Australia, Peru and Ghana, and has over 17,000 employees. In the last one year, the share price of Gold Fields Limited (NYSE:GFI) fell by 2.6%.

7. Sasol Limited (NYSE:SSL)

Total market cap of the company as at 7th Feb 2023 (in billions): 10.4

Sasol Limited (NYSE:SSL) is one of the most valuable South African companies in the world, and the largest energy and chemical in the nation. Sasol Limited’s (NYSE:SSL) trailing twelve month revenue is $15.45 billion and currently has more than 30,000 employees. Sasol Limited (NYSE:SSL) provides its range of high quality products in almost two dozen countries.

6. Capitec Bank Holdings

Total market cap of the company as at 7th Feb 2023 (in billions): 11.79

Capitec is a South African retail group and is one of the biggest banks in South Africa and currently has over 18 million clients and more than 853 branches as at 28 Feb 2022. The bank also has over 14,000 employees and was recently just edged out by FBN as the strongest banking brand in the world, according to Business Tech.

Click to continue reading and see the 5 most valuable South African companies in the world.