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Top 500 African Champions 2023: a user’s guide to our annual ranking

in depth

This article is part of the dossier:

Wealth creators

By The Africa Report

Posted on March 15, 2023 16:13


Which are the best performing companies on the continent? Who, among the 1,200 largest African companies, have best withstood successive crises, from the Covid pandemic to the consequences of the war in Ukraine? In other words, who are our 2023 African champions?

Our 24th edition of the African 500 Champions Ranking 2023 offers a snapshot of the reshuffling of the cards among the continent’s largest companies.

Based on a detailed analysis of our database of more than 1,200 companies, the ranking provides a series of encouraging figures on Africa’s economic health: $665 billion in cumulative revenues, a record average profitability rate of 14.9%… And 76 new entrants.

Who are they? To find out, we invite you to browse through the rankings in their entirety, before diving deeper into the regional and sectoral rankings.

And because behind the numbers, there are men and women, decisions, successes and failures, we also invite you, through our analysis, interviews and portraits, to go deep into the strategy of the largest companies in Africa.

Understand Africa's tomorrow... today

We believe that Africa is poorly represented, and badly under-estimated. Beyond the vast opportunity manifest in African markets, we highlight people who make a difference; leaders turning the tide, youth driving change, and an indefatigable business community. That is what we believe will change the continent, and that is what we report on. With hard-hitting investigations, innovative analysis and deep dives into countries and sectors, The Africa Report delivers the insight you need.