Africa’s largest corporations have experienced a decrease in market value, significantly influenced by the South African multinational Naspers.
As of March 31, 2024, the collective market capitalisation of the continent’s top 250 listed companies totaled $505 billion, a 9% drop from the previous year’s $556 billion, underscoring a continued downward trajectory in market capitalisation since the peak of $948 billion in 2015.
This figure even falls short of the $597 billion reported in March 2020 amidst the Covid-19 pandemic, signaling a retreated optimism from the near breakthrough of the $1 trillion mark anticipated several years earlier.
SOURCE: AFRICAN BUSINESS
