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Monday, October 2, 2023

Most Profitable Companies in Kenya 2022

The most profitable companies will often attract investors and a highly-skilled workforce. When seeking a company to invest in or to work for, one will most certainly look into the company’s profitability and financial performance. Which are the most profitable companies in Kenya? This article looks into companies that are reaping remarkable profits and doing so steadily.

1. Safaricom

Safaricom is Kenya’s biggest telecommunication company that was founded in 1993. Since then the company has grown to serve more than 39 million users across the region. Its products include Africa’s leading mobile money service, Mpesa whose presence is in Congo, Ghana, Egypt, Lesotho, Mozambique, Kenya, and Tanzania. Other products include the highly profitable Fuliza overdraft service, and Mshwari offering loan and savings products. The company has an approximate net worth of sh 11 trillion.

2. East Africa Breweries Ltd

EABL is East Africa’s leading alcoholic beverage manufacturer and has grown to be one of the most profitable countries in the country. The company started out as Kenya Breweries Limited in 1932 before a merger with Tanganyika Breweries Ltd in 1936 led to it being EABL. the company operates in Tanzania, Kenya, South Sudan, and Uganda. It is presently valued at approximately Ksh 173 billion.

3. Equity Group Holdings

Equity Bank is a leading financial institution operating in Kenya, Uganda, Rwanda, Tanzania, and South Sudan. The bank was named the best bank in 2020 and this is attributed to several factors such as efficiency for clients and the provision of several products. As of 2021, the bank had an asset portfolio worth Ksh 774.4 billion.

4. KenGen

Kenya Electricity Generating Company is Kenya’s leading power producing company disseminating approximately 70% of all power used in the country. The company has six operation areas around Kenya. As of 2021, KenGen recorded revenue worth Ksh 45.9 billion attributed to diversification in Ethiopia, geothermal power, and hydrogeneration.

ReadBest Savings and Credit Cooperative Societies (Saccos) in Kenya 2021

5. Bamburi Cement

Bamburi Cement is the country’s top cement manufacturer and supplier. The factory is based in Mombasa but the head offices are in Nairobi. The company produces various types of cement and cement products that are sold locally and internationally. The company has an approximate net worth of Ksh 42.8 billion.

6. Bidco Africa

Bidco Africa is the leading Fast Moving Consumer Goods producer, supplier, and marketer in 17 countries across East Africa, Central Africa, and Southern Africa. The company has over the years grown its portfolio to include forty brands producing edible oils, fats, personal care products, detergents, laundry bars, and margarine.

7. Kenya Commercial Bank

This is a commercial bank that has proven its resilience and steady growth since its founding in 1896. The bank serves more than 16 million in several countries in Africa including Tanzania, Uganda, Burundi, Rwanda, and South Sudan. Most of these are attributed to successful acquisitions. In Q3 of 2021, Kenya Commercial Bank recorded a Ksh 25 billion profit after tax making it among Kenya’s most profitable companies.

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