Top 10 biggest companies in South Africa (2024)

South Africa currently has one of Africa’s strongest financial and corporate sectors. The country is home to the largest stock exchange in Africa as well as Johannesburg, the biggest financial centre on the continent, in terms of number of corporations. This article lists the biggest companies in South Africa.

South Africa’s biggest companies

Rank	Companies	Market capitalization (USD $)
1.	Naspers	49,619,000
2.	Anglo American	36,429,000
3.	FirstRand	29,739,000
4.	MTN Group	24,500,000
5.	Standard Bank Group	20,915,000
6.	Vodacom Group	20,102,000
7.	Capitec Bank	18,608,000
8.	Sasol	15,354,000
9.	Kumba Iron Ore	14,446,000
10.	Gold Fields	13,909,000

1. Naspers

Market capitalization: $49,619,000

Naspers is a multinational internet and media group headquartered in Cape Town, South Africa. The company operates in more than 130 countries and has a market capitalization of around US$45 Million, making it the largest company in South Africa by market capitalization. Naspers’ key assets include its stake in Tencent Holdings, a Chinese internet giant, and its online classifieds business, OLX. Naspers currently owns a 31% stake in Tencent, which is valued at around US$170 billion as of September 2021. 

In addition to its stake in Tencent, Naspers also owns several other online businesses, including OLX, a global online classifieds platform, and Delivery Hero, a German food delivery company. Naspers has a strong presence in several emerging markets, including Africa, Asia, and Latin America. The company has been investing heavily in technology and innovation to drive its growth and has recently launched several new ventures, including a fintech platform and an online education portal.

2. Anglo-American Platinum

Market capitalization: $36,429,000

Anglo-American Platinum is the world’s largest primary producer of platinum and a leading producer of other precious metals. The company is a subsidiary of Anglo American, a multinational mining company based in Johannesburg. Anglo-American Platinum has a market capitalization of around US$36 million making it the second-largest company in South Africa. Anglo-American Platinum operates several mines in South Africa and Zimbabwe and has a refining capacity of around 2.4 million ounces of PGMs per year. 

The company has been investing heavily in research and development to improve its production processes and reduce its environmental impact. In recent years, Anglo-American Platinum has also been expanding its operations in other countries, including Canada and Brazil, to diversify its portfolio and reduce its dependence on South Africa.

3. FirstRand

Market capitalization: $29,739,000

FirstRand is a financial services group that provides banking, insurance, and investment products and services in South Africa and several other African countries. The company has a market capitalization of around US$29 million making it the third largest company in South Africa. FirstRand is a financial services group that was founded in South Africa in 1998. The company provides a range of banking, insurance, and investment products and services to individuals and businesses in South Africa and several other African countries. FirstRand operates through several subsidiaries, including First National Bank (FNB), WesBank, and Ashburton Investments.

FNB is the largest of FirstRand’s subsidiaries and provides a range of banking services, including retail banking, corporate banking, and wealth management. WesBank is a leading provider of vehicle and asset finance, while Ashburton Investments provides investment management services. FirstRand has been expanding its operations in other African countries, including Nigeria and Ghana, and has recently launched several digital initiatives to improve its customer experience and reach new customers.

4. MTN Group

Market capitalization: $24,500,000

MTN Group is a telecommunications company that provides mobile network access and related services in several African and Middle Eastern countries. The company has a market capitalization of around US$24 million ma. MTN Group is a telecommunications company that was founded in South Africa in 1994. The company provides mobile network access and related services, including voice, data, and messaging services, to customers in several African and Middle Eastern countries. 

MTN Group is the largest mobile operator in Africa and has over 280 million subscribers across its operations. The company has been investing heavily in expanding its network infrastructure and improving its digital capabilities to meet the growing demand for mobile data services. 

5. Standard Bank Group

Market capitalization: $20,915,000

Standard Bank Group is a financial services company that provides banking, investment, and wealth management products and services in Africa and other emerging markets. The company has a market capitalization of around US$ 21 million. Standard Bank Group is a financial services company that was founded in South Africa in 1862. 

The company provides a range of banking, investment, and insurance products and services to customers in South Africa and several other African countries. Standard Bank Group operates through several subsidiaries, including Standard Bank, Stanbic Bank, and Liberty Holdings. Standard Bank is the largest subsidiary of Standard Bank Group and provides a range of banking services, including retail banking, corporate banking, and wealth management. 

6. Vodacom Group

Market capitalization: $20,102,000

Vodacom Group is a telecommunications company that provides mobile network access and related services in South Africa and several other African countries. The company has a market capitalization of around US$20 million.

Vodacom Group was founded in South Africa in 1994. The company provides mobile network access and related services, including voice, data, and messaging services, to customers in several African countries. Vodacom Group is a subsidiary of Vodafone, one of the world’s largest telecommunications companies. Vodacom Group is the largest mobile operator in South Africa and has a significant presence in several other African countries.

The company has been investing heavily in expanding its network infrastructure and improving its digital capabilities to meet the growing demand for mobile data services. Vodacom Group has also been exploring new business models, including mobile financial services and digital content, to diversify its revenue streams and drive growth.

7. Capitec Bank Holdings

Market capitalization: $18,608,000

Capitec Bank Holdings is a financial services company that was founded in South Africa in 2001. The company provides a range of banking products and services to customers in South Africa, including transactional banking, savings accounts, and personal loans. Capitec Bank Holdings has grown rapidly in recent years and is now one of the largest banks in South Africa, with over 16 million customers. 

The company has differentiated itself from traditional banks by offering simple, transparent, and low-cost banking products and services.

Capitec Bank Holdings has also invested heavily in technology and innovation to improve its customer experience and streamline its operations. The company has recently launched several new digital initiatives, including a mobile banking app and a credit scoring platform.

8. Sasol

Market capitalization: $15,354,000

Sasol is a multinational energy and chemical company that was founded in South Africa in 1950. The company produces a range of fuels, chemicals, and other products from coal, natural gas, and other feedstocks.

Sasol operates several facilities in South Africa and has operations in several other countries, including the United States, Canada, and Mozambique. Sasol has been investing heavily in technology and innovation to reduce its environmental impact and develop more sustainable products and processes. 

The company has also been expanding its operations in other countries, including the United States, to diversify its portfolio and reduce its dependence on South Africa. Sasol has faced several challenges in recent years, including cost overruns on major projects and low oil prices, but has continued to grow its business and pursue new opportunities.

9. Kumba Iron Ore

Market capitalization: $14,446,000

Kumba Iron Ore is a mining company that was founded in South Africa in 2006. The company produces iron ore, which is used in the production of steel and operates several mines in South Africa. Kumba Iron Ore is a subsidiary of Anglo American, one of the world’s largest mining companies. Kumba Iron Ore has been focused on improving its operational efficiency and reducing its costs in recent years.

The company has also been investing in new technologies and digital initiatives to optimize its production and improve its safety and sustainability performance. Kumba Iron Ore has faced several challenges, including labour disputes and regulatory changes, but has continued to grow its business and generate strong financial results.

10. Impala Platinum Holdings

Market capitalization: $13,909,000

Impala Platinum Holdings is a mining company that was founded in South Africa in 1924. The company produces platinum group metals, including platinum, palladium, and rhodium, which are used in a range of industrial and consumer applications. Impala Platinum Holdings operates several mines in South Africa and has operations in several other countries, including Zimbabwe and Canada. 

The company has been focused on improving its operational performance and reducing its costs in recent years, including implementing several restructuring initiatives and investing in new technologies.

Impala Platinum Holdings has also been exploring new growth opportunities, including expanding its operations in other countries and developing new products and markets. The company has faced several challenges, including regulatory changes and volatile commodity prices, but has continued to grow its business and deliver value to its stakeholders.

Conclusion

South Africa is the second largest economy in Africa, after Nigeria. The southern African country also has the highest number of billionaires in Africa with some of the continent’s biggest corporations.