By Pierre-Olivier Rouaud, with extra reporting by Nicholas Norbrook
Posted on Monday, 11 April 2022 15:19
After the injury attributable to the Covid-19 pandemic in 2020, the monetary yr 2021 will undoubtedly be a interval of great rebound for many African firms. This is evidenced by the turnover of the Algerian big Sonatrach (#1), which in 2021 soared by 70%. Meanwhile, our newest version of the Top 500 Companies rating, which focuses on the efficiency of firms of their monetary yr 2020, was marked by a despair.
The cumulative turnover – $590bn – of this unique rating by The Africa Report represents a decline of 4.8%. In absolute phrases, we now have to return to 2016 to discover a decrease determine, specifically $569bn. At that point, there have been foreign money crises in Egypt, Nigeria and South Africa.As for the height of exercise in 2012 – when the five hundred firms within the rating took in a complete turnover of $757bn – it is going to be a few years earlier than this may be matched, and much more so in a interval of worldwide tensions created by the battle in Ukraine.
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