Kenya, DRC among African nations with firms making $1bn revenues
By 2030, the largest consumer markets will include Nigeria, Egypt and South Africa. There will also be lucrative opportunities in Algeria, Angola, Ethiopia, Ghana, Kenya, Morocco, Sudan, Tunisia, and Tanzania, according to Brookings. PHOTO | SHUTTERSTOCK
Africa has at least 345 companies with revenues of $1 billion or more per annum of which 3 percent (11) of the firms are located in East Africa (EA) underlining the region’s growing consumer market for various goods and services, according to a report by global consultancy firm McKinsey Global Institute.
Kenya tops its EA counterparts by hosting the highest number of companies (six) that produce $1 billion in revenues per year, followed by the Democratic Republic of Congo (DRC) with four and Tanzania with one company.
