It’s Dangote again: Nigerian company tops Forbes list of West African companies

by Stanley Azuakola

L-R Andy Ojei, Executive Director, Zenith Bank Plc, Oscar Onyema, CEO Nigerian Stock Exchange (NSE), Edwin Devakumar, Group Executive Director, Dangote Group and Rakesh Wahi, Vice Chairman, ABN 360 Group (Photo-Vanguard)

It’s not like Aliko Dangote needed any further justification. The man is now a regular on the Forbes list of the world’s richest men (wort $11.2 billion as at March 2012.) Now, Forbes Africa, in collaboration with ABN Productions has named his company Dangote Group as the top rated West African company.

At a dinner event hosted in Lagos, Forbes Africa presented its list of top 25 companies in the West African capital market which comprises of the Nigerian Stock Exchange, Ghanaian Stock Exchange and the Abidjan-based Bourse Regionale des Valeurs Mobilieres SA (Regional Securities Exchange SA) or BRVM.

The Top 25 list which was ranked in terms of market capitalization, revenue and profit, also featured companies like Nigeria Breweries Plc, Zenith Bank Plc, First Bank Plc, Nestle Nigeria, Flour Mills, Guaranty Trust Bank Plc and Ecobank.

The Managing Editor, Forbes Africa, Mr. Chris Bishop, while presenting the awards, congratulated the Dangote Group for its achievements. Speaking about the event, he said:  “I think this was a hugely successful night and a signal to African companies everywhere that their time has come. All too often the lists of the world have overlooked the success of African companies.

“Nights like this show how important successful African companies are in the progress of the world economy.”

The Chief Executive Officer of the Nigerian Stock Exchange, Mr. Oscar Onyema, also spoke at the awards.

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