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Each year, The Africa Report chronicles the fortunes of the top 500 companies in Africa's key business sectors. These rankings, which were published in February 2011, are based on firms' 2009 performance, point to some of the important longer-term changes affecting African economies.

Use the search bar below to browse the ranking by company name, country or sector.

 METHODOLOGY

Of 6,691 African companies in our database, 5,913 receive a detailed questionnaire. After crosschecks and verification, we establish a ranking of Africa's top 1,550 companies. The first 500 are published. To allow comparison, we apply the same rules to all our data. 1) All financial data must have a clearly-defined source, generally communicated to us by the companies themselves, and must refer to the 2009 financial year (in some cases 2009/10). 2) If presented in local currency, we convert the data into US dollar amounts according to the rate prevailing on 31 December 2009. 3). We include all companies who fall under the legal juristiction of at least one of the 53 countries in Africa (Zimbabwe is excluded), which is why a holding company and a subsidiary can both feature in the list. 4) Where we cannot obtain up-to-date figures, we use those of the previous year (marked with an asterisk). After two years of silence a company is struck off our ranking.

It was growth in domestic consumption that helped African companies' impressive stamina in 2010. Read more analysis in A pause on the way up.

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Rank 2011	Rank 2010	Company name	Country	Sector	Turnover (Thds $)	Turnover change	Net profits
1	1	SONATRACH	ALGERIA	PETROLEUM	58 793 251	19,24%	9 305 439
2	2	SONANGOL	ANGOLA	PETROLEUM	22 244 664	-0,89%	2 515 973
3	3	SASOL	SOUTH AFRICA	CHEMICALS	18 393 415	-1,03%	2 398 323
4	5	MTN GROUP	SOUTH AFRICA	TELECOMS	17 254 208	12,53%	2 151 435
5	4	THE BIDVEST GROUP	SOUTH AFRICA	DIVERSIFIED	16 517 786	8,24%	503 282
6	6	ESKOM	SOUTH AFRICA	ELECTRICITY	13 758 201	30,22%	1 257 160
7	8	SHOPRITE HOLDINGS	SOUTH AFRICA	RETAIL	10 140 697	21,14%	340 998
8	7	SANLAM	SOUTH AFRICA	INSURANCE	10 123 028	19,20%	980 182
9	9	VODACOM GROUP	SOUTH AFRICA	TELECOMS	9 207 089	14,29%	1 240 460
10	11	IMPERIAL HOLDINGS	SOUTH AFRICA	DIVERSIFIED	8 039 747	8,97%	340 318
11	10	PICK'N PAY STORES HOLDINGS	SOUTH AFRICA	RETAIL	7 815 246	5,58%	117 878
12	13	STEINHOFF INTERNATIONAL HOLDINGS	SOUTH AFRICA	DIVERSIFIED	7 227 618	10,39%	532 743
13	14	MASSMART HOLDINGS	SOUTH AFRICA	RETAIL	7 139 003	18,55%	176 989
14	12	VODACOM SOUTH AFRICA	SOUTH AFRICA	TELECOMS	6 979 676	2,59%	N/A
15	19	ANGLO PLATINUM CORP.	SOUTH AFRICA	MINING	6 924 461	28,06%	1 498 332
16	16	SAPPI	SOUTH AFRICA	PAPER	6 572 000	18,30%	66 000
17	15	BARLOWORLD	SOUTH AFRICA	DIVERSIFIED	6 142 874	7,31%	7 673
18	32	DE BEERS CONSOLIDATED MINES	SOUTH AFRICA	MINING	5 877 000	34,66%	-546 000
19	29	ANGLOGOLD ASHANTI	SOUTH AFRICA	MINING	5 842 425	29,05%	95 837
20	43	KUMBA IRON ORE	SOUTH AFRICA	MINING	5 823 017	45,80%	2 154 895
21	20	TRANSNET	SOUTH AFRICA	TRANSPORT	5 709 878	15,92%	618 801
22	25	MTN SOUTH AFRICA	SOUTH AFRICA	TELECOMS	5 389 420	17,08%	N/A
23	26	SPAR GROUP	SOUTH AFRICA	RETAIL	5 242 310	17,04%	137 782
24	46	OFFICE CHERIFIEN DES PHOSPHATES	MOROCCO	MINING	5 128 650	41,28%	1 048 131
25	22	AVENG	SOUTH AFRICA	DIVERSIFIED	5 112 457	10,94%	281 778
26	24	MTN NIGERIA	NIGERIA	TELECOMS	5 038 871	10,83%	N/A
27	17	TELKOM	SOUTH AFRICA	TELECOMS	5 033 154	-2,60%	183 850
28	34	NASPERS	SOUTH AFRICA	MEDIA	4 977 638	24,17%	791 367
29	23	MURRAY & ROBERTS HOLDINGS	SOUTH AFRICA	CONSTRUCTION	4 808 743	5,34%	165 239
30	28	SAB MILLER SOUTH AFRICA	SOUTH AFRICA	BEVERAGES	4 777 000	11,79%	N/A
31	30	GOLD FIELDS	SOUTH AFRICA	MINING	4 748 999	17,42%	546 344
32	31	ORASCOM CONSTRUCTION IN/AUSTRIES	EGYPT	CONSTRUCTION	4 719 726	18,19%	572 896
33	21	GROUPE ONA*	MOROCCO	DIVERSIFIED	4 684 968	N/A	381 540
34	38	ARCELOR MITTAL SOUTH AFRICA	SOUTH AFRICA	METAL, STEEL	4 547 201	24,10%	202 355
35	36	GRIN/AROD	SOUTH AFRICA	SEA TRANSPORT	4 544 024	17,84%	126 204
36	27	SUEZ CANAL AUTHORITY	EGYPT	PORTS	4 542 000	5,56%	N/A
37	41	SAMIR	MOROCCO	REFINING	4 365 837	22,53%	98 564
38	35	DATATEC	SOUTH AFRICA	ICT	4 302 972	13,13%	41 893
39	42	EDGARS CONSOLIDATED STORES	SOUTH AFRICA	RETAIL	3 849 414	12,88%	-247 189
40	37	IMPALA PLATINUM HOLDINGS	SOUTH AFRICA	MINING	3 828 351	8,01%	709 372
41	45	OLD MUTUAL LIFE ASSURANCE CO.	SOUTH AFRICA	INSURANCE	3 775 543	17,54%	381 842
42	33	MAROC TELECOM	MOROCCO	TELECOMS	3 733 304	-1,98%	1 124 294
43	18	ORASCOM TELECOM	EGYPT	TELECOMS	3 693 228	-37,14%	150 915
44	49	WOOLWORTHS HOLDINGS	SOUTH AFRICA	RETAIL	3 519 477	16,02%	189 266
45	48	LIBERTY GROUP	SOUTH AFRICA	INSURANCE	3 432 065	13,59%	397 038
46	47	ALLIED ELECTRONICS CORP.	SOUTH AFRICA	ELECTRICAL EQUIPMENT	3 431 765	12,25%	81 544
47	50	THE ARAB CONTRACTORS	EGYPT	CONSTRUCTION	3 428 433	19,38%	249 468
48	-	TRANSNET FREIGHT RAIL	SOUTH AFRICA	TRANSPORT	3 401 223	N/A	N/A
49	44	NETWORK HEALTHCARE HOLDINGS	SOUTH AFRICA	HEALTHCARE	3 381 213	7,37%	193 479
50	39	NAFTAL	ALGERIA	PETROLEUM SERVICES	3 367 077	-2,08%	91 011
51	40	SOUTH AFRICAN AIRWAYS	SOUTH AFRICA	AIR TRANSPORT	3 182 000	-7,51%	109 000
52	-	TOTAL E&P ANGOLA	ANGOLA	PETROLEUM	3 095 712	N/A	1 458 990
53	51	TIGER BRANDS	SOUTH AFRICA	AGRIBUSINESS	2 906 092	5,22%	329 832
54	56	EZZ STEEL CO.	EGYPT	METAL, STEEL	2 847 251	19,90%	96 706
55	55	MEDI CLINIC CORP.	SOUTH AFRICA	HEALTHCARE	2 802 131	17,53%	177 080
56	52	NAMPAK	SOUTH AFRICA	PACKAGING	2 790 170	5,36%	124 257
57	60	MASSCASH	SOUTH AFRICA	RETAIL	2 620 538	21,72%	74 984
58	74	AKWA GROUP	MOROCCO	DIVERSIFIED	2 593 800	36,18%	N/A
59	61	EXXARO RESOURCES	SOUTH AFRICA	MINING	2 580 970	21,60%	783 544
60	117	LONMIN	SOUTH AFRICA	MINING	2 506 850	57,64%	192 956
61	58	OANDO	NIGERIA	PETROLEUM SERVICES	2 470 624	10,56%	93 718
62	53	OFFICE NATIONAL DE L'ELECTRICITE	MOROCCO	ELECTRICITY	2 461 163	2,10%	N/A
63	70	SANTAM	SOUTH AFRICA	INSURANCE	2 385 385	27,12%	269 155
64	59	PIONEER FOODS GROUP	SOUTH AFRICA	AGRIBUSINESS	2 366 777	7,24%	35 287
65	54	EGYPTAIR HOLDINGS	EGYPT	DIVERSIFIED	2 314 141	-1,76%	91 324
66	62	WILSON BAYLY HOLMES - OVCON	SOUTH AFRICA	CONSTRUCTION	2 287 005	12,94%	144 655
67	67	CEVITAL	ALGERIA	AGRIBUSINESS	2 259 263	20,86%	255 354
68	64	SOC. NAT. DE L'ELECTRICITE ET DU GAZ	ALGERIA	ELECTRICITY, GAS	2 254 237	18,96%	N/A
69	57	MC CARTHY RETAIL*	SOUTH AFRICA	AUTO DEALER	2 219 676	N/A	N/A
70	73	EL SEWEDY CABLES	EGYPT	ELEC. CABLES	2 210 116	23,85%	136 274
71	71	NEW CLICKS HOLDINGS	SOUTH AFRICA	RETAIL	1 997 416	13,91%	85 066
72	69	JD GROUP	SOUTH AFRICA	RETAIL	1 989 551	12,44%	75 315
73	68	SOCIETE IVOIRIENNE DE RAFFINAGE	COTE D'IVOIRE	REFINING	1 948 523	8,63%	-3 117
74	72	SOC. TUNISIENNE DES IND. DE RAFFINAGE	TUNISIA	REFINING	1 854 141	7,34%	-197 824
75	79	REMGRO	SOUTH AFRICA	DIVERSIFIED	1 838 800	13,12%	1 461 622
76	84	MASSDISCOUNTERS	SOUTH AFRICA	RETAIL	1 830 209	17,45%	N/A
77	-	KONKOLA COPPER MINES	ZAMBIA	MINING	1 825 000	N/A	309 100
78	131	MOBINIL	EGYPT	TELECOMS	1 811 645	47,89%	233 838
79	63	ORASCOM TELECOM ALGERIE	ALGERIA	TELECOMS	1 793 840	-4,13%	N/A
80	88	DISTELL GROUP	SOUTH AFRICA	BEVERAGES	1 776 647	17,56%	141 657
81	65	TELECOM EGYPT	EGYPT	TELECOMS	1 767 461	-2,09%	566 886
82	85	MONDI GROUP SOUTH AFRICA	SOUTH AFRICA	PAPER AND PACKAGING	1 762 823	14,82%	54 764
83	66	EGYPTAIR AIRLINES	EGYPT	AIR TRANSPORT	1 745 319	-2,94%	22 374
84	89	AECI	SOUTH AFRICA	CHEMICALS	1 740 556	80,15%	96 288
85	87	MASSWAREHOUSE	SOUTH AFRICA	SERVICES	1 730 356	13,50%	111 107
86	119	SOCIETE NATIONALE DES HYDROCARBURES	CAMEROON	PETROLEUM	1 713 011	38,35%	25 205
87	77	GROUP FIVE HOLDINGS	SOUTH AFRICA	CONSTRUCTION	1 705 740	4,44%	40 227
88	80	HARMONY GOLD MINING CO.	SOUTH AFRICA	MINING	1 697 678	8,71%	-28 886
89	76	AL EZZ DEKHEILA STEEL CO.	EGYPT	METAL, STEEL	1 695 870	3,57%	N/A
90	92	AFRICAN RAINBOW MINERALS	SOUTH AFRICA	MINING	1 658 260	17,93%	272 615
91	-	KANSANSHI MINING	ZAMBIA	MINING	1 658 000	N/A	322 100
92	78	ALTADIS MAROC	MOROCCO	TOBACCO	1 650 600	1,93%	N/A
93	95	MR PRICE GROUP	SOUTH AFRICA	RETAIL	1 641 875	20,61%	151 993
94	90	REUNERT	SOUTH AFRICA	ELECTRICAL EQUIPMENT	1 606 791	13,82%	135 315
95	112	PETROSA	SOUTH AFRICA	PETROLEUM	1 589 562	31,38%	120 239
96	82	SOC. TUNISIENNE DE L'ELEC. ET DU GAZ	TUNISIA	ELECTRICITY, GAS	1 585 221	2,87%	-6 316
97	110	ASPEN PHARMACARE HOLDINGS	SOUTH AFRICA	PHARMACEUTICALS	1 526 556	26,25%	299 335
98	81	ROYAL AIR MAROC	MOROCCO	AIR TRANSPORT	1 525 942	-1,09%	-109 529
99	83	MIDDLE EAST OIL REFINERIES*	EGYPT	REFINING	1 518 093	N/A	172 702
100	93	GRINAKER - LTA	SOUTH AFRICA	CONSTRUCTION	1 507 629	12,09%	N/A
101	107	FOSCHINI	SOUTH AFRICA	RETAIL	1 494 946	22,40%	195 856
102	86	TONGAAT-HULETT GROUP	SOUTH AFRICA	AGRIBUSINESS	1 456 506	-3,08%	125 325
103	97	ALLIED TECHNOLOGIES	SOUTH AFRICA	ELECTRICAL EQUIPMENT	1 451 993	14,58%	31 595
104	122	SOCIETE NATIONALE DE RAFFINAGE	CAMEROON	REFINING	1 440 399	29,99%	46 778
105	102	OMNIA HOLDINGS	SOUTH AFRICA	CHEMICALS	1 409 416	15,56%	67 402
106	-	TRANSNET RAIL ENGINEERING	SOUTH AFRICA	RAIL TRANSPORT	1 403 097	N/A	N/A
107	121	ALEXANDRIA MINERALS OILS CO.	EGYPT	PETROLEUM	1 381 379	25,82%	179 804
108	105	FLOUR MILLS NIGERIA	NIGERIA	AGRIBUSINESS	1 347 084	12,31%	110 501
109	111	TOTAL GABON	GABON	PETROLEUM	1 340 852	16,48%	202 226
110	115	LIFE HEALTHCARE GROUP	SOUTH AFRICA	HEALTHCARE	1 321 854	19,12%	125 626
111	-	DANGOTE CEMENT	NIGERIA	CONST. MATERIALS	1 320 724	N/A	695 065
112	101	ASTRAL FOODS	SOUTH AFRICA	AGRIBUSINESS	1 258 947	5,40%	53 806
113	-	MOMENTUM GROUP	SOUTH AFRICA	INSURANCE	1 248 585	N/A	258 774
114	98	KENOLKOBIL	KENYA	PETROLEUM	1 221 130	-0,01%	21 320
115	109	ILLOVO SUGAR	SOUTH AFRICA	AGRIBUSINESS	1 219 834	6,41%	107 406
116	-	HOLDING YNNA	MOROCCO	CONSTRUCTION	1 216 964	N/A	N/A
117	124	TRANSNET NATIONAL PORTS AUTHORITY	SOUTH AFRICA	PORTS	1 212 777	17,06%	N/A
118	114	NIGERIAN BREWERIES	NIGERIA	BEVERAGES	1 192 260	9,62%	197 765
119	99	SOC. NAT. DE TELECOMM. DU SENEGAL	SENEGAL	TELECOMS	1 186 024	-1,52%	365 825
120	162	DISCOVERY HEALTH	SOUTH AFRICA	INSURANCE	1 182 537	40,87%	258 022
121	96	SUPER GROUP	SOUTH AFRICA	AUTOMOBILE	1 178 750	-5,84%	48 242
122	146	GHABBOUR AUTO	EGYPT	AUTOMOBILE	1 177 484	34,48%	44 170
123	113	SUN INTERNATIONAL	SOUTH AFRICA	HOTELS	1 173 059	7,58%	77 181
124	133	MUTUAL & FEDERAL INSURANCE	SOUTH AFRICA	INSURANCE	1 154 520	19,73%	N/A
125	123	ANGLOVAAL INDUSTRIES	SOUTH AFRICA	AGRIBUSINESS	1 148 069	12,37%	70 441
126	118	SAFARICOM	KENYA	TELECOMS	1 137 987	6,82%	159 739
127	100	SHELL MAROC	MOROCCO	PETROLEUM SERVICES	1 121 247	-7,02%	N/A
128	138	CMH GROUP	SOUTH AFRICA	AUTO DEALER	1 107 647	20,79%	18 059
129	220	SOC. NAT. INDUSTRIELLE ET MINIERE	MAURITANIA	MINING	1 092 632	52,55%	564 273
130	104	AFGRI	SOUTH AFRICA	AGRIBUSINESS	1 092 092	-8,40%	45 835
131	103	ASSORE	SOUTH AFRICA	MINING	1 066 039	-11,53%	222 594
132	-	AL EZZ ROLLING MILLS	EGYPT	METAL, STEEL	1 062 060	N/A	N/A
133	108	SUEZ CEMENT CO.	EGYPT	CONST. MATERIALS	1 053 864	-9,68%	211 795
134	106	TOTAL NIGERIA	NIGERIA	PETROLEUM	1 047 139	-11,87%	35 447
135	132	RAINBOW CHICKEN	SOUTH AFRICA	AGRIBUSINESS	1 046 592	10,44%	55 369
136	116	EQSTRA HOLDINGS	SOUTH AFRICA	AUTO DEALER	1 043 973	-1,88%	-8 425
137	130	TRUWORTHS INTERNATIONAL	SOUTH AFRICA	RETAIL	1 043 672	9,39%	241 322
138	128	MARJANE HOLDING	MOROCCO	RETAIL	1 039 444	6,71%	N/A
139	126	STEFANUTTI STOCKS HOLDINGS	SOUTH AFRICA	DIVERSIFIED	1 037 566	4,30%	50 102
140	136	KENYA AIRWAYS	KENYA	AIR TRANSPORT	1 030 032	13,26%	42 456
141	134	PRETORIA PORTLAND CEMENT CO.	SOUTH AFRICA	CONST. MATERIALS	1 024 113	10,70%	151 955
142	75	HOSKEN CONSOLIDATED INVESTMENTS	SOUTH AFRICA	DIVERSIFIED	1 020 758	-60,30%	965 637
143	129	ETHIOPIAN AIRLINES	ETHIOPIA	AIR TRANSPORT	1 000 552	5,33%	96 737
144	125	ZAIN SUDAN*	SUDAN	TELECOMS	994 300	N/A	351 500
145	170	AURECON HERITAGE COMPANIES	SOUTH AFRICA	CONSTRUCTION	980 000	31,84%	N/A
146	127	JULIUS BERGER NIGERIA*	NIGERIA	CONSTRUCTION	973 675	N/A	21 648
147	94	AIRTEL NIGERIA	NIGERIA	TELECOMS	962 042	-35,80%	-218 419
148	149	MASSBUILD	SOUTH AFRICA	CONSTRUCTION	957 900	21,12%	41 479
149	-	TRANSNET PORT TERMINALS	SOUTH AFRICA	PORTS	955 508	N/A	N/A
150	-	ENDIAMA	ANGOLA	MINING	955 000	N/A	N/A
151	-	MPACT	SOUTH AFRICA	PACKAGING	941 621	N/A	7 447
152	160	PALABORA MINING CO.	SOUTH AFRICA	MINING	922 409	22,77%	89 518
153	139	TALAAT MOUSTAFA GROUP	EGYPT	REAL ESTATE	914 645	4,49%	161 023
154	135	TOTAL MAROC	MOROCCO	PETROLEUM SERVICES	911 969	0,68%	N/A
155	271	COMPAGNIE MINIERE DE L'OGOOUE	GABON	MINING	906 474	57,98%	238 022
156	141	CLOVER HOLDINGS	SOUTH AFRICA	AGRIBUSINESS	902 059	6,40%	-5 899
157	203	TARKWA MINES	GHANA	MINING	899 455	N/A	N/A
158	150	DOUJA PROMOTION	MOROCCO	REAL ESTATE	893 924	15,60%	198 753
159	137	CHEMICAL SERVICES*	SOUTH AFRICA	CHEMICALS	879 566	N/A	65 118
160	142	KENYA POWER AND LIGHTING	KENYA	ELECTRICITY	878 002	4,54%	44 596
161	188	HULAMIN	SOUTH AFRICA	ALUMINIUM	873 914	30,58%	11 020
162	191	SOUTH AFRICAN POST OFFICE	SOUTH AFRICA	POSTAL SERVICES	872 610	N/A	N/A
163	120	FORTE OIL (FORMERLY AFRICAN PETROLEUM)	NIGERIA	PETROLEUM	865 139	-21,21%	-17 910
164	140	SOC. NAT. DE DIST. DES PETROLES AGIL	TUNISIA	PETROLEUM SERVICES	860 235	0,96%	N/A
165	159	MONDI PACKAGING SOUTH AFRICA	SOUTH AFRICA	PACKAGING	857 858	16,87%	N/A
166	147	MTN GHANA	GHANA	TELECOMS	850 193	10,14%	N/A
167	144	COSIDER	ALGERIA	CONSTRUCTION	826 868	0,67%	128 457
168	180	BASIL READ HOLDINGS	SOUTH AFRICA	CONSTRUCTION	810 891	22,48%	39 230
169	167	ADCORP HOLDINGS	SOUTH AFRICA	EDUCATION	810 108	15,95%	13 977
170	164	CASHBUILD	SOUTH AFRICA	CONST. MATERIALS	807 788	15,45%	24 640
171	193	GUINNESS NIGERIA	NIGERIA	BEVERAGES	806 283	27,47%	116 884
172	177	AVUSA	SOUTH AFRICA	MEDIA	798 890	20,48%	32 648
173	-	SOUTH AFRICAN BROADCASTING CORP.	SOUTH AFRICA	MEDIA	786 902	N/A	-19 449
174	161	POULINA GROUP HOLDING	TUNISIA	DIVERSIFIED	781 050	9,55%	54 119
175	145	ALGERIE TELECOM*	ALGERIA	TELECOMS	774 816	N/A	34 416
176	216	TOTAL KENYA	KENYA	PETROLEUM SERVICES	772 342	32,44%	10 994
177	197	EVRAZ HIGHVELD STEEL & VANADIUM CORP.	SOUTH AFRICA	METAL, STEEL	771 056	25,65%	-82 597
178	148	EGYPTIAN SUGAR AND INT. INDUSTRIES CO.*	EGYPT	AGRIBUSINESS	755 981	N/A	53 442
179	151	MURRAY & ROBERTS CONSTRUCTION*	SOUTH AFRICA	CONSTRUCTION	752 161	N/A	19 144
180	179	RAND WATER	SOUTH AFRICA	WATER	751 904	16,14%	45 381
181	-	RMB HOLDINGS	SOUTH AFRICA	INSURANCE	748 429	N/A	578 465
182	246	NAMDEB DIAMOND CORP.	NAMIBIA	MINING	745 657	41,66%	62 163
183	178	SIFCA (GROUPE)	COTE D'IVOIRE	AGRIBUSINESS	738 592	14,43%	108 118
184	153	AIR ALGERIE	ALGERIA	AIR TRANSPORT	733 892	-1,44%	N/A
185	152	SOCIETE TUNISIENNE DE L'AIR	TUNISIA	AIR TRANSPORT	724 865	-3,28%	17 604
186	156	EASTERN COMPANY	EGYPT	TOBACCO	719 289	0,09%	145 674
187	157	CENTRALE LAITIERE	MOROCCO	AGRIBUSINESS	716 010	-0,02%	65 800
188	155	TUNISIANA	TUNISIA	TELECOMS	714 412	-0,73%	N/A
189	173	AFRICAN OXYGEN	SOUTH AFRICA	CHEMICALS	710 274	8,98%	14 142
190	196	ZURICH INSURANCE CO. SOUTH AFRICA	SOUTH AFRICA	INSURANCE	696 939	17,50%	21 728
191	175	ORIENTAL WEAVERS FOR CARPETS	EGYPT	TEXTILES	695 432	7,51%	55 183
192	492	METOREX	SOUTH AFRICA	MINING	685 438	75,58%	125 901
193	158	COMP. SUCRIERE MAROCAINE DE RAFFINAGE	MOROCCO	AGRIBUSINESS	685 105	-4,33%	68 087
194	182	RAUBEX	SOUTH AFRICA	CONSTRUCTION	683 942	9,66%	67 253
195	210	INVICTA HOLDINGS	SOUTH AFRICA	AUTOMOBILE	682 110	21,55%	53 283
196	-	ELLERINE HOLDINGS (ELH)	SOUTH AFRICA	DIVERSIFIED	675 069	N/A	60 330
197	172	MEDI TELECOM	MOROCCO	TELECOMS	672 384	2,24%	N/A
198	168	CARGILL WEST AFRICA*	COTE D'IVOIRE	AGRIBUSINESS	670 846	N/A	2 978
199	169	CONOIL	NIGERIA	PETROLEUM SERVICES	670 171	0,30%	18 184
200	176	TRIDENT STEEL	SOUTH AFRICA	METAL, STEEL	669 638	4,08%	N/A
201	186	LYONNAISE DES EAUX DE CASABLANCA	MOROCCO	WATER, ELECTRICITY	668 844	8,80%	30 219
202	200	ADCOCK INGRAM HOLDINGS	SOUTH AFRICA	PHARMACEUTICALS	668 096	16,96%	95 003
203	199	NIGERIAN BOTTLING CO.	NIGERIA	BEVERAGES	666 214	N/A	16 020
204	143	MONDI SHANDUKA NEWSPRINT	SOUTH AFRICA	MEDIA	652 343	N/A	N/A
205	-	ALGERIE TELECOM MOBILIS	ALGERIA	TELECOMS	633 120	N/A	N/A
206	248	GROWTHPOINT PROPERTIES	SOUTH AFRICA	REAL ESTATE	632 793	31,59%	5 717
207	165	LAFARGE CIMENTS	MOROCCO	CONST. MATERIALS	631 201	-8,18%	197 461
208	209	AFRICAN REINSURANCE CORP.	NIGERIA	INSURANCE	627 532	14,53%	64 863
209	-	SAHAM HOLDING	MOROCCO	DIVERSIFIED	624 954	N/A	462
210	181	GROUPE OPTORG*	MOROCCO	RETAIL	620 971	N/A	12 958
211	294	MVELAPHANDA GROUP	SOUTH AFRICA	DIVERSIFIED	618 643	45,21%	130 257
212	205	CTP HOLDINGS	SOUTH AFRICA	MEDIA	614 931	11,69%	53 274
213	-	OLAM NIGERIA	NIGERIA	AGRIBUSINESS	611 020	N/A	4 090
214	154	BUSINESS CONNEXION GROUP	SOUTH AFRICA	ICT	610 824	-21,31%	18 543
215	195	SOC. NAT. BURKINABE D'HYDROCARBURES	BURKINA FASO	PETROLEUM SERVICES	603 746	4,34%	25 614
216	184	KAP INTERNATIONAL HOLDINGS	SOUTH AFRICA	DIVERSIFIED	601 830	-2,25%	13 149
217	190	GROUPE ELLOUMI*	TUNISIA	DIVERSIFIED	596 808	N/A	N/A
218	251	NORTHAM PLATINUM	SOUTH AFRICA	MINING	593 538	27,63%	96 442
219	213	ILIAD AFRICA	SOUTH AFRICA	CONST. MATERIALS	591 082	10,58%	8 075
220	185	HOLDING D'AMENAGEMENT AL OMRANE	MOROCCO	REAL ESTATE	589 026	-3,73%	35 038
221	192	ALUMINIUM CO. OF EGYPT*	EGYPT	METAL, STEEL	588 737	N/A	35 135
222	398	LABEL VIE	MOROCCO	RETAIL	588 061	60,81%	6 278
223	207	DANGOTE SUGAR REFINERY	NIGERIA	AGRIBUSINESS	586 676	7,87%	73 559
224	194	VEOLIA ENVIRONNEMENT*	MOROCCO	WATER	580 140	N/A	N/A
225	303	GML (FORMERLY GROUPE MON LOISIR)	MAURITIUS	DIVERSIFIED	579 251	43,95%	13 012
226	212	AIR MAURITIUS	MAURITIUS	AIR TRANSPORT	577 808	7,80%	19 562
227	166	JORF LASFAR ENERGY CO.	MOROCCO	ELECTRICITY	577 051	-18,19%	N/A
228	218	SOCIETE AFRICAINE DE RAFFINAGE	SENEGAL	REFINING	573 287	9,15%	N/A
229	222	SA DES BRASSERIES DU CAMEROUN	CAMEROON	BEVERAGES	566 427	9,00%	N/A
230	237	METAIR INVESTMENTS	SOUTH AFRICA	AUTOMOBILE	564 674	20,21%	41 777
231	202	SUDANESE TELECOM CO.	SUDAN	TELECOMS	559 869	1,70%	8 765
232	221	SOC. EGYPT. D'ENT. - MOKHTAR IBRAHIM	EGYPT	CONSTRUCTION	558 088	7,50%	33 663
233	-	EGYPTIAN ALUMINIUM PRODUCTS CO.	EGYPT	ALUMINIUM	556 694	N/A	33 223
234	206	PHARMACIE CENTRALE DE TUNISIE	TUNISIA	PHARMACEUTICALS	553 184	2,22%	15 436
235	201	LEWIS GROUP	SOUTH AFRICA	RETAIL	550 361	-0,70%	107 105
236	189	COMPAGNIE IVOIRIENNE D'ELECTRICITE	COTE D'IVOIRE	ELECTRICITY	548 642	-10,40%	12 104
237	211	DISTRIBUTION & WAREHOUSING NETWORK	SOUTH AFRICA	RETAIL	544 387	2,00%	16 426
238	238	NESTLE NIGERIA	NIGERIA	AGRIBUSINESS	539 374	16,91%	82 165
239	233	MURRAY & ROBERTS CEMENTATION	SOUTH AFRICA	CONST. MATERIALS	536 956	13,60%	40 622
240	253	CONCOR	SOUTH AFRICA	CONSTRUCTION	535 301	20,51%	55 215
241	-	SOC. SEC. AND NAT. INSURANCE TRUST	GHANA	INSURANCE	529 156	N/A	1 278
242	235	CATOCA SOCIEDADE MINEIRA	ANGOLA	MINING	527 330	12,48%	N/A
243	208	WAFA ASSURANCE	MOROCCO	INSURANCE	525 901	-2,56%	85 352
244	214	RMA WATANIYA	MOROCCO	INSURANCE	524 419	-0,65%	121 083
245	215	ALEXANDRIA NAT. REF. & PETROCHEMICALS CO.*	EGYPT	REFINING	522 222	N/A	47 167
246	219	VOLTA RIVER AUTHORITY*	GHANA	ELECTRICITY	519 943	N/A	-53 011
247	-	GROUPE ETRHB HADDAD	ALGERIA	CONSTRUCTION	517 919	N/A	59 189
248	198	SONATEL MOBILES	SENEGAL	TELECOMS	517 628	-10,22%	N/A
249	-	INNSCOR AFRICA	ZIMBABWE	HOTELS	516 137	N/A	26 110
250	241	OCEANA GROUP	SOUTH AFRICA	AGRIBUSINESS	515 023	13,58%	44 296
251	231	MUSTEK	SOUTH AFRICA	ICT	512 962	8,49%	9 234
252	281	BELL EQUIPMENT	SOUTH AFRICA	AUTOMOBILE	511 530	28,86%	4 514
253	250	TOTAL SENEGAL	SENEGAL	PETROLEUM SERVICES	510 632	15,87%	9 770
254	-	OPTIMUM COAL HOLDINGS	SOUTH AFRICA	MINING	505 410	N/A	32 422
255	223	PETROLE DU MAGHREB	MOROCCO	PETROLEUM SERVICES	495 294	-1,35%	N/A
256	276	TOTAL PETROLEUM GHANA	GHANA	PETROLEUM SERVICES	493 429	24,28%	14 054
257	227	OLYMPIC GROUP	EGYPT	DIVERSIFIED	493 098	3,42%	21 894
258	259	MOOLMANS	SOUTH AFRICA	MINING	490 617	17,12%	N/A
259	171	RENAULT MAROC	MOROCCO	AUTOMOBILE	490 021	-34,63%	N/A
260	290	MRS OIL (FORMERLY CHEVRON OIL NIGERIA)	NIGERIA	PETROLEUM SERVICES	487 572	N/A	12 042
261	163	SOCIETE NATIONALE DE SIDERURGIE	MOROCCO	METAL, STEEL	485 111	-42,15%	-2 217
262	217	CDG DEVELOPPEMENT	MOROCCO	REAL ESTATE	483 390	-7,81%	65 788
263	-	GROUPE CFAO ALGERIE	ALGERIA	DIVERSIFIED	482 529	N/A	N/A
264	232	LIBYA OIL MAROC	MOROCCO	PETROLEUM SERVICES	482 007	3,43%	N/A
265	239	SOC. NAT. D'OPERATIONS PETROLIERES	COTE D'IVOIRE	PETROLEUM	481 353	6,93%	37 222
266	270	PINNACLE TECHNOLOGY HOLDINGS	SOUTH AFRICA	ICT	476 464	19,82%	20 953
267	-	TOTAL TUNISIE	TUNISIA	PETROLEUM SERVICES	472 889	N/A	6 728
268	229	GROUPE LOUKIL*	TUNISIA	DIVERSIFIED	469 986	N/A	26 856
269	230	BRITISH AMERICAN INVESTMENT CO.*	MAURITIUS	DIVERSIFIED	469 479	N/A	3 256
270	-	ORANGE COTE D'IVOIRE	COTE D'IVOIRE	TELECOMS	465 046	N/A	N/A
271	-	ECONET WIRELESS	ZIMBABWE	TELECOMS	463 491	N/A	140 969
272	291	WATANIYA TELECOM ALGERIE	ALGERIA	TELECOMS	461 650	25,43%	N/A
273	307	EGYPT KUWAIT HOLDING CO.	EGYPT	DIVERSIFIED	458 714	29,78%	185 068
274	247	EAST AFRICAN BREWERIES GROUP	KENYA	BEVERAGES	455 584	4,61%	86 148
275	314	ENT. NAT. DE TRAVAUX AUX PUITS	ALGERIA	PETROLEUM	454 026	30,47%	60 700
276	257	COMAIR	SOUTH AFRICA	AIR TRANSPORT	452 786	9,22%	13 496
277	334	SALAM GAZ	MOROCCO	PETROLEUM SERVICES	452 398	34,97%	15 206
278	260	GIJIMA AST GROUP	SOUTH AFRICA	ICT	442 837	8,23%	23 863
279	243	MTN COTE D'IVOIRE*	COTE D'IVOIRE	TELECOMS	441 198	N/A	34 389
280	261	DANGOTE FLOUR MILLS	NIGERIA	AGRIBUSINESS	440 759	8,63%	17 754
281	295	RAYA HOLDING FOR TECH. AND TELECOMM.	EGYPT	ELECTRICAL EQUIPMENT	437 483	22,58%	7 472
282	245	SHELL TUNISIE*	TUNISIA	PETROLEUM SERVICES	436 954	N/A	6 982
283	292	WANA CORP.	MOROCCO	TELECOMS	436 230	21,73%	N/A
284	-	GOLDEN STAR RESOURCES	GHANA	MINING	432 693	N/A	-8 281
285	244	OFFICE NATIONAL DE L'EAU POTABLE	MOROCCO	WATER	429 746	-1,85%	16 270
286	236	CIMENTS DU MAROC	MOROCCO	CONST. MATERIALS	429 229	-5,47%	102 005
287	228	SOC. MAROC. DE CONSTR. AUTOMOBILES	MOROCCO	AUTOMOBILE	428 397	-10,73%	N/A
288	280	SIEMENS EGYPT	EGYPT	ELECTRICAL EQUIPMENT	424 108	N/A	N/A
289	240	ABU QIR FERTILIZERS & CHEMICAL INDUSTRIES	EGYPT	CHEMICALS	423 587	-5,45%	200 182
290	322	PRODUCE BUYING CO.	GHANA	AGRIBUSINESS	422 640	28,71%	9 424
291	264	TANZANIA BREWERIES	TANZANIA	BEVERAGES	419 670	6,94%	80 319
292	242	HOLCIM	MOROCCO	CONST. MATERIALS	417 809	-6,41%	77 735
293	-	FREEWORLD COATINGS	SOUTH AFRICA	CHEMICALS	415 996	N/A	22 690
294	226	SOCIETE NATIONALE D'ELECTRICITE	SENEGAL	ELECTRICITY	415 353	-17,66%	N/A
295	-	EAST AFRICAN BREWERIES KENYA	KENYA	BEVERAGES	414 780	N/A	87 894
296	263	HOLDING MAROC. COMM. ET FINANCIERE	MOROCCO	DIVERSIFIED	413 119	4,70%	N/A
297	-	REBAB CO.	MOROCCO	MINING	411 300	N/A	N/A
298	466	ALEXANDRIA PORTLAND CEMENT	EGYPT	CONST. MATERIALS	408 999	55,75%	101 223
299	256	PZ CUSSONS NIGERIA	NIGERIA	PHARMACEUTICALS	408 595	-0,61%	34 569
300	-	DELTA CORP.	ZIMBABWE	AUTOMOBILE	408 001	N/A	54 114
301	267	ASTRAPAK	SOUTH AFRICA	PACKAGING	407 024	5,99%	16 520
302	287	AFRIQUIA GAZ	MOROCCO	ENERGY	406 427	13,81%	38 830
303	224	LESIEUR CRISTAL	MOROCCO	AGRIBUSINESS	405 576	-23,58%	18 039
304	234	GROUPE TTS	TUNISIA	HOTELS	403 893	N/A	13 460
305	252	MTN CAMEROUN	CAMEROON	TELECOMS	403 719	-5,48%	N/A
306	289	AES AFRICAN POWER CO.	CAMEROON	ELECTRICITY	403 369	N/A	29 862
307	249	COMPAGNIE MAROCAINE DES HYDROCARBURES	MOROCCO	PETROLEUM	400 860	-7,69%	N/A
308	-	REDEFINE PROPERTIES	SOUTH AFRICA	REAL ESTATE	399 892	N/A	170 874
309	268	EGYPTIAN IRON & STEEL CO.	EGYPT	METAL, STEEL	396 139	3,46%	8 380
310	293	PEERMONT GLOBAL	SOUTH AFRICA	HOTELS	394 435	13,44%	-47 678
311	310	PRESS CORPORATION	MALAWI	DIVERSIFIED	387 549	17,53%	45 083
312	274	MERAFE RESOURCES	SOUTH AFRICA	MINING	384 917	2,58%	41 931
313	269	SOC. FRIGORIFIQUE ET BRASSERIE DE TUNIS	TUNISIA	BEVERAGES	384 393	0,60%	52 544
314	258	MOBIL OIL NIGERIA	NIGERIA	PETROLEUM	380 396	-6,98%	25 330
315	285	CIEL GROUP	MAURITIUS	DIVERSIFIED	376 069	5,78%	30 829
316	275	PROCTER & GAMBLE MAROC*	MOROCCO	CHEMICALS	373 982	N/A	N/A
317	364	SOCIETE NIGERIENNE DE PRODUITS PETROLIERS	NIGER	PETROLEUM SERVICES	373 792	30,21%	12 343
318	326	SOCIETE MAGASIN GENERAL	TUNISIA	RETAIL	370 096	19,14%	124
319	302	HUDACO INDUSTRIES	SOUTH AFRICA	AUTOMOBILE	369 796	11,76%	35 263
320	283	ORANGE MALI	MALI	TELECOMS	368 712	2,26%	166 781
321	265	SANIA CIE	COTE D'IVOIRE	AGRIBUSINESS	367 112	-5,11%	8 070
322	321	COUNTRY BIRD HOLDINGS	SOUTH AFRICA	AGRIBUSINESS	366 144	17,56%	6 673
323	296	OFFICE NAT. DES CHEMINS DE FER DU MAROC	MOROCCO	TRANSPORT	365 254	8,20%	-4 834
324	288	SEARDEL INVESTMENT CORP.	SOUTH AFRICA	TEXTILES	364 180	4,23%	14 497
325	320	SOCIETE DES MINES DE LOULO	MALI	MINING	363 717	16,98%	86 578
326	-	AVENG MANUFACTURING	SOUTH AFRICA	CONST. MATERIALS	361 998	N/A	N/A
327	-	SENTULA MINING	SOUTH AFRICA	MINING	361 437	N/A	5 285
328	-	BULYANHULU GOLD MINE	TANZANIA	MINING	359 824	N/A	N/A
329	-	ORASCOM FOR HOTELS AND DEVELOPMENT	EGYPT	HOTELS	359 601	N/A	80 059
330	361	TRENCOR	SOUTH AFRICA	SEA TRANSPORT	354 009	25,43%	93 881
331	266	AXA ASSURANCE MAROC	MOROCCO	INSURANCE	351 873	-9,17%	N/A
332	284	CNIA SAADA INSURANCE	MOROCCO	INSURANCE	350 599	-1,29%	N/A
333	403	METMAR	SOUTH AFRICA	METAL, STEEL	350 063	35,12%	7 033
334	262	SOC. D'EXPL. DES MINES D'OR DE SADIOLA	MALI	MINING	349 288	N/A	N/A
335	-	MOHINANI GROUP	GHANA	DIVERSIFIED	347 000	N/A	N/A
336	337	GHANA OIL CO.	GHANA	PETROLEUM SERVICES	343 483	15,46%	4 220
337	-	ANOUAR INVEST	MOROCCO	DIVERSIFIED	343 482	N/A	N/A
338	277	UAC OF NIGERIA	NIGERIA	DIVERSIFIED	341 087	-8,66%	35 541
339	345	GROUPE MANAGEM	MOROCCO	MINING	339 099	17,75%	N/A
340	404	PETROLEOS DE MOCAMBIQUE	MOZAMBIQUE	PETROLEUM SERVICES	338 969	33,08%	-7 562
341	272	BAMBURI CEMENT	KENYA	CONST. MATERIALS	336 900	-12,44%	61 068
342	286	CAIRO POULTRY	EGYPT	AGRIBUSINESS	336 022	-4,33%	39 793
343	-	NAKUMATT HOLDINGS	KENYA	RETAIL	334 358	N/A	3 209
344	-	MAUREL & PROM GABON	GABON	PETROLEUM	333 995	N/A	N/A
345	354	SEVEN-UP BOTTLING CO.	NIGERIA	AGRIBUSINESS	333 159	19,13%	14 846
346	323	GOLD REEF CASINO RESORTS	SOUTH AFRICA	CASINOS	332 626	9,64%	42 271
347	-	MEIKLES AFRICA	ZIMBABWE	DIVERSIFIED	330 437	N/A	6 687
348	301	CIC HOLDINGS*	NAMIBIA	RETAIL	326 495	N/A	7 851
349	369	SOCIETE MULTINATIONALE DE BITUMES	COTE D'IVOIRE	REFINING	326 186	21,51%	5 518
350	313	CECAGADIS	GABON	RETAIL	323 937	2,41%	18 998
351	317	SIDI KERIR PETROCHEMICALS CO.	EGYPT	PETROLEUM	323 913	5,88%	140 638
352	305	FOOD AND ALLIED GROUP OF COMPANIES	MAURITIUS	AGRIBUSINESS	322 520	-0,35%	19 059
353	376	MARIDIVE AND OIL SERVICES	EGYPT	PETROLEUM SERVICES	322 279	23,36%	48 493
354	362	ALGERIE POSTE	ALGERIA	POSTAL SERVICES	321 836	N/A	N/A
355	309	VODACOM TANZANIA*	TANZANIA	TELECOMS	320 467	N/A	N/A
356	-	JUHAYNA FOOD INDUSTRIES	EGYPT	BEVERAGES	318 867	N/A	39 024
357	297	SOCIETE CENTRALE DE REASSURANCE	MOROCCO	INSURANCE	318 716	-5,08%	40 421
358	-	ROYAL BAFOKENG PLATINUM	SOUTH AFRICA	MINING	316 968	N/A	476 370
359	-	ENGEN RD CONGO	DR CONGO	PETROLEUM SERVICES	315 581	N/A	8 797
360	315	HIDROELECTRICA DE CAHORA BASSA*	MOZAMBIQUE	WATER, ELECTRICITY	313 745	N/A	-55 794
361	-	REDAL	MOROCCO	WATER	312 101	N/A	N/A
362	344	VOX TELECOM	SOUTH AFRICA	TELECOMS	311 545	9,88%	-102 259
363	312	SOCIETE GENERALE DES TRAVAUX DU MAROC	MOROCCO	CONSTRUCTION	311 374	-1,58%	N/A
364	316	ENTREPRISE NATIONALE DE FORAGE	ALGERIA	PETROLEUM	311 139	0,41%	43 923
365	279	AUTO HALL	MOROCCO	AUTOMOBILE	309 718	-18,03%	22 622
366	318	KELLY GROUP	SOUTH AFRICA	SERVICES	308 416	1,34%	3 923
367	342	ALLIANCES DEVELOPPEMENT IMMOBILIER	MOROCCO	REAL ESTATE	307 955	7,70%	49 990
368	437	SANTOVA LOGISTICS	SOUTH AFRICA	TRANSPORT	307 586	34,54%	2 552
369	457	BOTSWANA INSURANCE HOLDINGS	BOTSWANA	INSURANCE	307 009	39,11%	49 030
370	325	OFFICE NATIONAL DES AEROPORTS	MOROCCO	AIR TRANSPORT	306 703	2,42%	31 968
371	339	COOPERATIVE COPAG TAROUDANT	MOROCCO	AGRIBUSINESS	306 660	5,96%	N/A
372	278	NOUVELAIR TUNISIE	TUNISIA	AIR TRANSPORT	306 622	-19,36%	10 302
373	328	COTE D'IVOIRE TELECOM	COTE D'IVOIRE	TELECOMS	305 445	2,18%	N/A
374	336	UNILEVER NIGERIA	NIGERIA	CHEMICALS	305 188	4,39%	27 260
375	340	NORTH AFRICA BOTTLING CO.	MOROCCO	BEVERAGES	303 422	N/A	N/A
376	363	ROGERS GROUP	MAURITIUS	CONSTRUCTION	301 213	13,07%	19 636
377	429	PALM HILLS DEVELOPMENT CO.	EGYPT	REAL ESTATE	301 140	31,07%	90 166
378	300	SOCIETE MAROCAINE DE CARBURANTS - ZIZ	MOROCCO	PETROLEUM SERVICES	301 081	-8,94%	N/A
379	338	ORANGE CAMEROUN	CAMEROON	TELECOMS	300 443	3,53%	45 186
380	395	AMREYAH CIMPOR CEMENT CO.	EGYPT	CONST. MATERIALS	300 322	N/A	91 051
381	365	DRDGOLD	SOUTH AFRICA	MINING	299 474	13,98%	31 266
382	356	SHELL MAURITIUS	MAURITIUS	PETROLEUM SERVICES	299 305	10,09%	10 287
383	333	TOTAL COTE D'IVOIRE	COTE D'IVOIRE	PETROLEUM SERVICES	294 074	-0,04%	6 007
384	298	SOCIETE DES MINES DE MORILA	MALI	MINING	293 567	-12,61%	74 557
385	335	METRO MAROC	MOROCCO	RETAIL	293 353	0,07%	-3 051
386	311	SOCIETE BURKINABE DES FIBRES TEXTILES	BURKINA FASO	AGRIBUSINESS	291 028	-8,74%	1 283
387	358	TOURAH PORTLAND CEMENT CO.	EGYPT	CONST. MATERIALS	290 583	8,53%	75 880
388	380	SOCIETE ENNAKL	TUNISIA	AUTOMOBILE	290 109	16,14%	16 260
389	332	SNMVT - MONOPRIX	TUNISIA	RETAIL	289 386	-2,09%	7 944
390	381	SEFALANA HOLDING CO.	BOTSWANA	AGRIBUSINESS	289 191	N/A	7 251
391	327	LAFARGE W. AFRICAN PORT. CEMENT CO.	NIGERIA	CONST. MATERIALS	285 843	-4,63%	31 824
392	324	AIRTEL ZAMBIA	ZAMBIA	TELECOMS	284 742	-5,39%	29 221
393	405	FAMOUS BRANDS	SOUTH AFRICA	HOTELS	282 551	20,11%	34 643
394	480	DAMANG MINES	GHANA	MINING	280 069	N/A	N/A
395	450	BSI STEEL	SOUTH AFRICA	METAL, STEEL	279 303	30,63%	5 413
396	348	SINAI CEMENT CO.	EGYPT	CONST. MATERIALS	278 806	1,68%	155 151
397	499	SOCIETE AFRICAINE DE PLANTATIONS D'HEVEAS	COTE D'IVOIRE	AGRIBUSINESS	277 671	41,73%	64 388
398	357	PETROMINS-OIL DU MAROC	MOROCCO	PETROLEUM SERVICES	275 111	2,31%	N/A
399	-	GROUPE CFAO CONGO	REP. OF CONGO	DIVERSIFIED	274 855	N/A	N/A
400	448	NU WORLD HOLDINGS	SOUTH AFRICA	TRANSPORT	274 110	29,02%	10 321
401	367	MAGHREBAIL	MOROCCO	FINANCE	271 924	5,51%	9 573
402	306	SOC. NAT. DES TABACS ET DES ALLUMETTES	ALGERIA	TOBACCO	269 709	-19,99%	108 804
403	-	NORTH MARA GOLD MINE	TANZANIA	MINING	269 566	N/A	N/A
404	446	NAMIBIAN POWER CORP.	NAMIBIA	ELECTRICITY	267 668	26,51%	40 538
405	375	ROYAL SWAZILAND SUGAR CORP.	SWAZILAND	AGRIBUSINESS	267 630	6,69%	11 708
406	-	GROUPE CFAO CAMEROUN	CAMEROON	DIVERSIFIED	265 737	N/A	N/A
407	-	MAURITANIAN COPPER MINES	MAURITANIA	MINING	265 300	N/A	109 800
408	-	AMER GROUP HOLDING	EGYPT	HOTELS	265 231	N/A	95 538
409	374	SOCIETE NATIONALE D'INSURANCE	ALGERIA	INSURANCE	264 196	5,30%	25 932
410	445	ARGENT INDUSTRIAL	SOUTH AFRICA	CONST. MATERIALS	264 020	25,22%	8 118
411	353	SHELL SENEGAL	SENEGAL	PETROLEUM SERVICES	263 986	-2,31%	N/A
412	341	SOCIETE D'ENERGIE ET D'EAU DU GABON	GABON	WATER, ELECTRICITY	263 340	-8,08%	11 286
413	436	COMPAGNIE GENERALE IMMOBILIERE	MOROCCO	REAL ESTATE	262 755	23,24%	45 992
414	343	MCEL MOCAMBIQUE	MOZAMBIQUE	TELECOMS	262 747	N/A	9 110
415	-	SOC. MAROC EMIRATS ARAB. UNIS DE DEV.	MOROCCO	DIVERSIFIED	261 217	N/A	N/A
416	485	EOH HOLDINGS	SOUTH AFRICA	SERVICES	260 784	35,12%	15 706
417	329	SOC. DE PROM. IND. AUTOMOBILE AU MAROC	MOROCCO	AUTOMOBILE	260 394	-14,47%	N/A
418	347	GROUPE EUROFIND AFRIQUE	COTE D'IVOIRE	DIVERSIFIED	260 101	N/A	N/A
419	377	DELTA HOLDING	MOROCCO	DIVERSIFIED	259 838	5,08%	29 617
420	433	NAMIBIA BREWERIES	NAMIBIA	BEVERAGES	258 426	21,26%	25 314
421	-	OK ZIMBABWE	ZIMBABWE	RETAIL	257 426	N/A	4 286
422	434	UNIVERS ACIER	MOROCCO	METAL, STEEL	252 108	19,61%	N/A
423	319	TOTAL MARKETING GABON	GABON	PETROLEUM SERVICES	251 945	N/A	7 562
424	392	PALMERAIES KOUTOUBIA	MOROCCO	AGRIBUSINESS	251 352	6,53%	N/A
425	372	VODACOM CONGO*	DEM. REP. CONGO	TELECOMS	251 035	N/A	N/A
426	-	AMENDIS	MOROCCO	WATER	250 400	N/A	N/A
427	-	LIBYA OIL SENEGAL	SENEGAL	PETROLEUM	248 615	42,61%	N/A
428	409	EGYPTIAN INTERNATIONAL TOURISM CO.	EGYPT	HOTELS	248 207	11,01%	25 319
429	386	NATIONAL CEMENT CO.	EGYPT	CONST. MATERIALS	248 176	4,40%	55 110
430	-	BOLLORE AFRICA LOGISTICS CAMEROUN	CAMEROON	TRANSPORT	247 544	N/A	4 253
431	418	TOTAL MAURITIUS	MAURITIUS	PETROLEUM SERVICES	247 369	14,02%	5 528
432	382	TOTAL BURKINA	BURKINA FASO	PETROLEUM SERVICES	246 750	2,18%	7 277
433	443	ZAMBIA SUGAR	ZAMBIA	AGRIBUSINESS	246 490	19,70%	5 583
434	438	UMGENI WATER-AMANZI	SOUTH AFRICA	WATER	245 691	18,09%	81 350
435	-	BOLLORE AFRICA LOGISTICS COTE D'IVOIRE	COTE D'IVOIRE	TRANSPORT	244 870	45,12%	3 864
436	-	YAZAKI MAROC	MOROCCO	ELEC. CABLES	244 664	N/A	N/A
437	330	SOC. D'EXPL. DES PORTS - MARSA MAROC	MOROCCO	PORTS	243 911	-22,09%	N/A
438	384	SOCIETE CENTRALE DE BOISSONS GAZEUSES	MOROCCO	BEVERAGES	241 387	0,45%	3 990
439	421	GR. IND. DES PRODUCTIONS LAITICRES	ALGERIA	DAIRY	241 377	N/A	16 553
440	449	CERAMIC INDUSTRIES	SOUTH AFRICA	CONST. MATERIALS	240 899	19,40%	29 136
441	-	AL EZZ FLAT STEEL	EGYPT	METAL, STEEL	239 820	N/A	N/A
442	-	VALUE GROUP	SOUTH AFRICA	TRANSPORT	238 962	N/A	14 159
443	-	BIDVEST NAMIBIA	NAMIBIA	DIVERSIFIED	238 578	N/A	35 184
444	360	SOCOCIM INDUSTRIES	SENEGAL	CONST. MATERIALS	237 241	-11,49%	N/A
445	477	DATACENTRIX HOLDINGS	SOUTH AFRICA	ICT	237 070	26,59%	13 570
446	408	CENTRALE AUTOMOBILE CHERIFIENNE	MOROCCO	AUTO DEALER	236 777	5,90%	N/A
447	401	MAURITIUS TELECOM	MAURITIUS	TELECOMS	236 428	3,72%	54 011
448	390	COMPAGNIE DU KOMO	GABON	DIVERSIFIED	236 412	0,20%	20 790
449	391	TOGO TELECOM	TOGO	TELECOMS	235 610	0,24%	49 338
450	465	DELTA SUGAR	EGYPT	AGRIBUSINESS	235 188	22,97%	60 680
451	393	WEST AFRICAN CEMENT CO.*	TOGO	CONST. MATERIALS	234 931	N/A	26 334
452	394	SOCIETE NATIONALE DE VEHICULES INDUSTRIELS*	ALGERIA	AUTOMOBILE	234 313	N/A	N/A
453	456	COMP. DE DISTRIBUTION DE COTE D'IVOIRE	COTE D'IVOIRE	RETAIL	233 606	19,90%	2 457
454	402	GROUPE ONE TECH	TUNISIA	ELEC. CABLES	233 424	2,52%	15 379
455	396	BIOPHARM*	ALGERIA	PHARMACEUTICALS	233 181	N/A	12 383
456	350	OUTSPAN IVOIRE	COTE D'IVOIRE	AGRIBUSINESS	232 860	-16,89%	496
457	308	AIRTEL CONGO RDC (FORMERLY ZAIN RDC)	DEM. REP. CONGO	TELECOMS	232 448	-38,35%	-155
458	378	SOC. DE LIMON. ET BRASSERIES D'AFRIQUE	COTE D'IVOIRE	BEVERAGES	230 953	-6,28%	29 051
459	355	SANYATI HOLDINGS	SOUTH AFRICA	CONSTRUCTION	230 649	-16,74%	-18 117
460	400	BENUE CEMENT CO.*	NIGERIA	CONST. MATERIALS	229 679	N/A	94 280
461	383	COOPER MAROC PHARMACEUTICALS	MOROCCO	PHARMACEUTICALS	229 316	-4,80%	N/A
462	389	GROUPE ACIMA	MOROCCO	RETAIL	228 983	-3,08%	N/A
463	435	MAGHREB STEEL	MOROCCO	METAL, STEEL	228 030	11,22%	605
464	494	INDUSTRIES CHIMIQUES DU SENEGAL	SENEGAL	MINING	227 700	27,33%	N/A
465	-	BRIMSTONE INVESTMENT CORP.	SOUTH AFRICA	FINANCE	227 302	N/A	61 904
466	-	GENERALE DES CARRIERES ET DES MINES	DEM. REP. CONGO	MINING	227 299	N/A	-17 408
467	385	SOC. IVOIR. DE PROM. DE SUPERMARCHES	COTE D'IVOIRE	RETAIL	225 720	-5,17%	1 980
468	427	PEREGRINE HOLDINGS	SOUTH AFRICA	FINANCE	225 544	7,65%	46 331
469	411	ENT. NAT. DE GRANDS TRAVAUX PETROLIERS	ALGERIA	PETROLEUM	225 153	2,01%	3 970
470	-	SEMAFO BURKINA FASO	BURKINA FASO	MINING	224 109	N/A	N/A
471	399	INT. TRADING OIL & COMMODITIES CORP.	SENEGAL	PETROLEUM SERVICES	223 862	-2,70%	N/A
472	412	CIEL TEXTILE	MAURITIUS	TEXTILES	223 329	1,91%	6 740
473	-	HONEYWELL FLOUR MILLS	NIGERIA	AGRIBUSINESS	222 032	N/A	16 248
474	-	ADVTECH GROUP	SOUTH AFRICA	EDUCATION	221 177	-552,78%	22 387
475	414	SOCIETE DES BRASSERIES DU GABON	GABON	BEVERAGES	220 944	2,51%	N/A
476	368	AIRTEL GABON (FORMERLY ZAIN GABON)	GABON	TELECOMS	220 768	-16,14%	-77
477	430	MISR REFR. AND AIR CONDITIONING CO.	EGYPT	ELECTRICAL EQUIPMENT	220 051	6,52%	27 289
478	419	IND. PROMOTION SERVICES WEST AFRICA	COTE D'IVOIRE	DIVERSIFIED	218 602	2,81%	N/A
479	424	ENERGIE DU MALI	MALI	ELECTRICITY	218 449	3,72%	-71
480	483	CIPLA MEDPRO	SOUTH AFRICA	PHARMACEUTICALS	217 698	21,84%	29 398
481	371	NESTLE COTE D'IVOIRE	COTE D'IVOIRE	AGRIBUSINESS	217 455	-16,59%	1 515
482	413	DELPHI AUTOMOTIVE SYSTEME MAROC*	MOROCCO	ELEC. CABLES	216 890	N/A	N/A
483	388	NEW MAURITIUS HOTELS	MAURITIUS	HOTELS	216 339	-9,21%	20 889
484	-	SHARIKET KAHRABA HADJRET ENNOUSS	ALGERIA	ELECTRICITY	215 657	N/A	29 651
485	415	SOCIETE DES MINES DE L'A	NIGER	MINING	214 998	N/A	34 475
486	-	ELF OIL SENEGAL	SENEGAL	PETROLEUM SERVICES	214 251	N/A	N/A
487	-	MOBILE TELECOMMUNICATIONS CO.	NAMIBIA	TELECOMS	214 232	N/A	N/A
488	-	GROUPE CFAO COTE D'IVOIRE	COTE D'IVOIRE	DIVERSIFIED	213 632	N/A	N/A
489	-	GABON TELECOM	GABON	TELECOMS	212 456	27,94%	19 925
490	254	IRELAND BLYTH	MAURITIUS	CONSTRUCTION	211 472	-99,38%	6 691
491	-	AICO AFRICA	ZIMBABWE	AGRIBUSINESS	210 637	N/A	8 946
492	447	EGYPTAIR MAINTENANCE & ENGINEERING	EGYPT	AIR TRANSPORT	210 350	6,71%	20 942
493	379	BUILDMAX	SOUTH AFRICA	CONST. MATERIALS	205 998	-18,17%	-55 927
494	-	MISR NATIONAL STEEL	EGYPT	METAL, STEEL	205 769	23,70%	17 298
495	373	ESORFRANKI	SOUTH AFRICA	CONSTRUCTION	205 580	-21,84%	-6 132
496	440	RADEEMA	MOROCCO	WATER	205 296	2,95%	27 028
497	352	ENTREPRISE NATIONALE DE GEOPHYSIQUE	ALGERIA	PETROLEUM	205 236	-31,72%	19 363
498	-	CORLAY CAMEROUN (FORMERLY TEXACO)	CAMEROON	PETROLEUM SERVICES	204 502	N/A	656
499	426	OFFICE NATIONAL DES TELECOMMUNICATIONS	BURKINA FASO	TELECOMS	203 801	-2,23%	21 796
500	474	ITALTILE	SOUTH AFRICA	CONST. MATERIALS	203 709	13,76%	41 073