Telecoms company, Econet Wireless and beverage maker, Delta Corporation are the only two Zimbabwean companies to make it into Africa\u2019s top 250 companies in 2020 , a pan-African publication, Business Africa Magazine has published.<\/p>\n
The survey ranks African or Africa-focused companies listed on public securities exchanges according to their market valuation as gathered by Tom Minney of African Securities Exchanges Association.<\/p>\n
Econet Wireless ranked 159 out of 250 top companies, a decline from number 37 last year.<\/p>\n
The telecoms company\u2019s market capitalization stood at US$ 409 million with net income of US$ 4 million the survey shows.<\/p>\n
Delta Corporation ranked 187 down from 55 last year.<\/p>\n
The beverage maker\u2019s market valuation stood at US$ 313 million with net income of US$ 2 million.<\/p>\n
The steep decline in value for the two companies has largely been attributed to the currency changes in Zimbabwe put in place last year following the transition from a USD-denominated system to the Zim-dollar regime.<\/p>\n
The Zimbabwe dollar has been in free-fall since its re-introduction last year from parity position with the USD to trade at ZWL$ 60 against the greenback currently.<\/p>\n
But Zimbabwean companies were not the only losers in this year\u2019s list with most companies having lost their valuation due to a host of challenges including a tough operating global economy and the scourge of the coronavirus.<\/p>\n
Total value for all 250 firms stood at US$597.7 billion, down 20% from last year\u2019s total of US$748.2 billion.<\/p>\n
The list was mainly dominated by the Johannesburg Stock Exchange (JSE) listed firms with North African companies from Egypt and Morocco also constituting the majority of companies.<\/p>\n
South African firms, NEW Prosus, Naspers, Financiere Richiemont, Anglo American and Anglo American Platinum made the 2020 top 5 African companies in that order.<\/p>\n
Firstrand (S.A), Vodacom Group (S.A), Maroc Telecom (Morocco), Standard Bank Group (S.A) and Safaricom (Kenya) completed the top 10 list in that order.<\/p>\n
Africa\u2019s richest man, Aliko Dangote\u2019s Dangote Cement was ranked 21 down from 19 last year..<\/p>\n","protected":false},"excerpt":{"rendered":"
Telecoms company, Econet Wireless and beverage maker, Delta Corporation are the only two Zimbabwean companies to make it into Africa\u2019s top 250 companies in 2020 , a pan-African publication, Business Africa Magazine has published. The survey ranks African or Africa-focused companies listed on public securities exchanges according to their market valuation as gathered by Tom […]<\/p>\n","protected":false},"author":84,"featured_media":4788,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[533,1303],"class_list":{"0":"post-23420","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-econet","10":"tag-zimbabwe-stock-exchange"},"yoast_head":"\n