10 Largest Companies In South Africa Ranked By Market Cap

The Johannesburg Stock Exchange (JSE) is the largest stock exchange in Africa and ranks among the world's top 20 largest exchanges by market capitalisation. The exchange's mission is to help local and international investors and companies gain exposure to capital markets in Africa.^[1]

In 2003, the JSE launched AltX, an alternative exchange for small and mid-sized listings, also known as the Growth Board.^[2] In July 2013, it adopted the Millennium Exchange digital platform for trading equities as well as equity and foreign currency derivatives.^[3]

As of 2022, the JSE covers five financial markets: Equities, Bonds, Financial, Commodity, and Interest Rate Derivatives.

Below are the 10 largest companies based in South Africa based on market capitalisation. Note that the market cap figures and rankings are based on U.S. dollars as of 7 January 2022.^[4]

1. Naspers (NPN)

Naspers, a global internet provider, is the largest company in South Africa in terms of market capitalisation, at US$32.7 billion.^[4]

The company describes itself as one of the largest investors in technology in the world. In addition to operating its own companies, it invests in startups, which it helps to scale into larger enterprises.

Nasper operates through three main companies, with the other two being Prosus and Media24. Prosus handles the company's internet interests outside South Africa, which includes everything from food delivery to payments and fintech, and social media platforms.^[5]

Media24 is Africa's leading media group, with a portfolio of both digital and traditional publications as well as e-commerce. The latter includes Takealot, South Africa's largest e-commerce retailer.^[6]

Naspers was founded in 1915 and is based in Cape Town.^[7]

2. Anglo American Platinum (ANGPY)

Anglo America is the second largest South African company in terms of market cap at US$31.37 billion. It is one of the world's leading producers of platinum group metals. It also mines base metals such as copper and nickel and precious metals such as gold. The company is based in Johannesburg and employs about 30,000 people.^[8]

3. FirstRand Limited

FirstRand is the largest financial institution by market capitalisation in Africa and the third largest overall in South Africa at US$22.66 billion. In addition to its home market, where it operates the FNB retail and commercial bank, it operates throughout sub-Saharan Africa, the U.K., and India. It also offers asset management, investment, and insurance services.^[9]

The company was founded in 1998 and is based in Sandton.^[10]

4. MTN Group (MTN)

MTN Group, the fourth largest South African company by market cap at US$19.3 billion, is Africa's largest mobile network operator. Based in Johannesburg, MTN provides voice, data, financial technology and other services to more than 270 million customers in 19 markets throughout Africa and the Middle East.^[11]

5. Capitec Bank Holdings (CPI)

Capitec Bank is a large bank holding company and ranks fifth in market cap in South Africa at US$15.818 billion. Established in 2001 and based in Stellenbosch, the company offers retail and commercial banking and insurance services to nearly 15 million customers through 852 branches.^[12]

6. Standard Bank Group (SBK)

Founded in 1862 and based in Johannesburg, Standard Bank Group offers retail and commercial banking services in South Africa and 19 other African countries. SBK employs nearly 50,000 people and ranks sixth in market cap in South Africa at US$14.98 billion.^[13]

7. Vodacom Group (VOD)

Ranked seventh with a market cap of US$14.5 billion, Vodacom offers communications services, including mobile, data, text, and internet. It also offers financial services throughout the African continent, serving 130 million customers in 48 countries.^[14] The company was founded in 1993 and based in Midrand.^[15]

8. Impala Platinum Holdings (IMPUY)

Impala is a leading producer and refiner of platinum group metals that are then sold throughout the world. It employs more than 50,000 people in South Africa, Zimbabwe, and Canada.^[16] The company is based in Sandton and ranks eighth with a market cap of US$11.43 billion.^[17]

9. Sasol (SSL)

Ranked ninth with a market cap of US$10.68 billion, Sasol is a global chemicals and energy company that does business in 23 countries.^[18] The company was founded in 1950 and is based in Johannesburg.^[19]

10. Kumba Iron Ore (KIROY)

Based in Centurion, Kumba Iron Ore produces high-grade iron ore, which is the key component in steel. Ranked 10th with a market cap of US$9.75 billion, the company is involved in all facets of the process, from exploration and mining to processing to marketing.^[20]