Top 10 Most Valuable Companies in South Africa 2024: On the list of the most valuable South African brands, MTN has maintained the top spot. MTN now has a larger lead over Vodacom thanks to an increase in brand value of 34% to R59.8 billion. This year, there were 2.9 million more MTN customers on the African continent. In this article, we’ll tell you the top 10 most valuable companies in South Africa.
In South Africa, there are more than 60 million residents of various racial and cultural backgrounds. The nation has undergone significant development throughout its history, with the 19th century seeing a revolution in its economy. We shall examine the 15 most valuable South African businesses in this post.
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The value of some South African businesses has increased through time, making them among the most valuable in the nation by market capitalization. MTN and Vodacom lead the way, with Standard Bank, First National Bank, and ABSA completing the top 5 most valuable brands in South Africa. Interestingly, the banking sector has four representatives in the top 10 list, indicating how strong this sector is in South Africa.
In the following sections, we shall explore the full list of the top 10 most valuable companies in South Africa. This list is based on the market valuation of these brands.
The ranking is based on the most recent data obtained from Brand Finance and Statista.
Top 10 Most Valuable Companies in South Africa in 2024
- MTN – R59.8 billion
- Vodacom – R29.9 billion
- Standard Bank – R23.4 billion
- FNB – R23.4 billion
- Absa – R21.3 billion
- Multichoice – R17.5 billion
- Woolworths – R17.3 billion
- Shoprite – R15.7 billion
- Nedbank – R15.1 billion
- Mondi – R15 billion
1. MTN Group
In 2024, MTN Group Limited ranked the most valuable South African brand, with a brand value of nearly 60 billion South African rands. MTN Group is also one of the most valuable companies in Africa.
MTN continues to hold the title of the most valuable brand in Africa despite a 19 percent decline in brand value to US$2.7 billion. The telecoms giant rules domestically as well, continuing its ten-year reign as the leading brand in South Africa this year.
2. Vodacom
With a market valuation of R30 billion, Vodacom is one of the most valuable companies in South Africa.
Vodacom, an African provider of mobile phones, provides voice, messaging, data, and convergent solutions. It offers mobile voice and data services, hosted CRM solutions, web hosting, and phone apps. The company also sells telephones and other communication devices.
Vodacom Group Limited was established in 1993 and is headquartered in Midrand, South Africa. Tanzania, the Democratic Republic of the Congo, Mozambique, and Lesotho are all countries where the corporation operates networks. It provides business services to customers in over 40 African countries.
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3. Standard Bank
According to our sources, Standard Bank is one of the most valuable businesses in South Africa. At the time of writing, the market valuation of Standard Bank is R23.4 billion.
Standard Bank is a South African bank and financial services group and is Africa’s largest lender by assets.
4. First National Bank
With a market cap of R23.38 billion, FNB is one of the most valuable businesses in South Africa. FNB is one of the three representatives from the banking sector in the top 10 list.
First National Bank is one of the “big five” banks in South Africa. It belongs to FirstRand, a huge financial services juggernaut that trades on the Johannesburg Stock Exchange (JSE) under the ticker symbol FSR.
5. ABSA
ABSA Group Ltd. is a South African-based provider of financial services that offers personal and business banking, credit cards, corporate and investment banking, wealth and investment management, as well as bank assurance.
ABGL is the majority shareholder of 11 banks located in Africa. The group maintains representative offices in Namibia and Nigeria. It has a branch abroad in London, which started operations in September 2018. 2019 saw the opening of a new international office for Absa Group in New York City.
With a market valuation of R21.3 billion, ABSAGL is one of the most valuable companies in South Africa.
6. Multichoice
MultiChoice is a South African company that operates DStv, a major satellite television service in Sub-Saharan Africa. It also owns GOtv, a minor service operating in over 9 countries of this area, and Showmax service. MultiChoice is owned by a media conglomerate of the same name.
In 2020, MultiChoice had a total subscriber base of 20.1 million viewers throughout Africa, and Naspers asserted that MultiChoice was one of the fastest growing pay-TV operators globally.
The Subscription-based business provider has a market valuation of R17.54 billion to earn a place as one of the most valuable business brands in South Africa.
7. Woolworths SA
With a market capitalization of R17.29 billion, Woolworths SA is one of the most valuable companies in South Africa.
The South African multinational retailer Woolworths Holdings Limited also owns the Australian stores David Jones and Country Road Group in addition to the South African retail chain Woolworths.
The Woolworths brand in South Africa operates full-line fashion, home, and cosmetics stores. Urban areas also have independent grocery stores and “Food Stops” connected to Engen gas stations. In South Africa, Woolworths runs 155 full-line stores, 52 Fashion, Beauty, and Home stores solely, 194 food stand-alone stores, and 68 outlets across the rest of Africa.
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8. Shoprite
Shoprite is one of the most valuable companies in South Africa with a market cap of R15.73Nedbank billion.
It is the largest supermarket chain in Africa and runs more than 2,943 across Africa. The Shoprite Group, which employs over 149,000 people, is the largest employer in South Africa’s private sector. It has secondary listings in Namibia and Zambia in addition to its listing on the Johannesburg Stock Exchange.
9. Nedbank
According to our sources, Nedbank has a market capitalization of R15.06 billion and this earns it a place as one of the most valuable companies in South Africa.
The South African financial services company provides wealth management, asset management, insurance, and wholesale and retail banking services.
Although South Africa serves as Nedbank’s main market, it, however, has offices and banks in Angola, Kenya, Eswatini, Lesotho, Malawi, Mozambique, Namibia, and Zimbabwe. Nedbank also conducts business in six additional Southern African Development Community (SADC) nations: Namibia, Zimbabwe, Angola, and Mozambique.
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10. Mondi
Mondi completes our list of the top 10 most valuable companies in South Africa with a market valuation of R15 billion.
It is a worldwide packaging and paper firm with around 26,000 employees and approximately 100 production facilities spread across more than 30 countries, mostly in Europe, Russia, North America, and South Africa. It is listed on both the London Stock Exchange and the Johannesburg Stock Exchange. The FTSE 100 Index includes Mondi as one of its components.
