Tanzanian companies make it to 100 most valuable firms

Wednesday May 20 2020

Chief executive officers for five Tanzanian

Chief executive officers for five Tanzanian companies that have been ranked as most valuable ones by South Africa-based African Business. They are (from top left): TBL Plc managing director Philip Redman, TCC’s Michal Bachan, NMB Bank Plc’s Ruth Zaipuna, Vodacom’s Hisham Hendi and Alfonso Velez from Tanzania Portland Cement. PHOTOS | FILES 

By The Citizen Reporter @TheCitizenTZ news@tz.nationmedia.com

Dar es Salaam. Tanzania has produced two companies on the list of Africa’s 100 most valuable firms.

South Africa-based African Business disclosed in a ranking of the continent’s top 250 firms that TBL Plc and Vodacom Tanzania Plc are the two most valuable firms in the country.

At the continental level, TBL Plc has been ranked 75th while Vodacom Plc comes at position 98.

The rankings, which are based on firms’ market capitalisation at the end March, also placed the Tanzania Cigarette Company as the 105th most valuable company in Africa while NMB Bank Plc comes on position 134th whereas Tanzania Portland Cement Company Limited winds up the list of the country’s five most valuable firms on African Business’ list.

TBL Plc’s market value was placed at $1.396 billion (about Sh3.2 trillion) while Vodacom’s market value stands at $827 million (about Sh1.9 trillion). TCC’s market value stood at $738 million (about Sh1.7 trillion) while NMB Bank Plc came fourth in Tanzania, 10th in East Africa and 134th in Africa with its market value of $508 million (about Sh1.2 trillion).

Tanzania Portland Cement comes fifth in Tanzania and 19th in East Africa, with a market value of $170 million (about Sh390 billion).


In East Africa, Kenya’s Safaricom is the most valuable firm. The telecommunication company comes 10th in Africa on a list that is dominated by South African companies.

Three other Kenyan firms, which also have operations in Tanzania, have made it to the list of Africa’s top 100 firms. They include: East African Breweries Limited (EABL), Equity and KCB Group.

Equity Bank was ranked at position 82, followed by EABL (90) and KCB Group (92).

Safaricom’s market value was placed at $9.96 billion (Sh22.8 trillion).

In East Africa, Kenya dominated the list, bringing a total of 13 top firms in a list of 20. Tanzania has five while Uganda has only two.

Apart from EABL, Equity and KCB Group, other top Kenyan firms include: Co-operative Bank Of Kenya, Standard Chartered Kenya, I&M Holdings, British American Tobacco, Kenya Electricity Generating, Diamond Trust Bank, NCBA (Formerly NIC Group), Jubilee Holdings and Britam Holdings.

In Uganda, the two top firms are: British American Tobacco and Stanbic Bank Uganda.

South Africa dominated the top ten list, producing eight of the contient’s ten most valuable companies.

The firms and their market values in brackets include: NEWProsus ($119.141 billion), Naspers (($62.259 billion), Financière Richemon ($28 billion), Anglo American ($22.618 billion), Anglo American Platinum ($13.048 billion) and Firstrand ($12.553 billion).

The list also includes: Vodacom Group ($12.483 billion), Morocco’s Maroc Telecom ($11.082 billion), Standard Bank Group ($10.122 billion) and Kenya’s Safaricom ($9.966 billion).

In terms of increased share of the total, three North African markets of Morocco, Tunisia and Egypt scored the biggest gains, increasing the total number of companies in the ranking to 83, up from 70 in 2019.

Tunisia has seven more companies bringing its total to 12, after falling from seven in 2018 to five last year. Morocco has added four to reach 30 companies on the list and Egypt has added two to reach 41.

In terms of companies on the top 250 list, Egypt and Morocco came second and third ranked after South Africa, as last year.