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The AfricanCEO Magazine today released its 2024 list of the Top 100 African CEOs, recognizing leaders who have demonstrated exceptional long-term performance while considering environmental, social, and governance (ESG) factors.
“The business of business is business—but with a long-term perspective,” emphasizes Peter SaSellu, Publisher and Editor of AfricanCEO Magazine. This year’s ranking reflects a shift towards evaluating CEOs not solely on financial metrics, but also on their contributions to sustainable and responsible business practices.
Key Findings:
Focus on Long-Term Performance: The list emphasizes sustained success beyond short-term gains, analyzing CEO performance from the start of their tenure.
ESG Integration: The ranking now incorporates ESG performance, acknowledging the growing importance of social and environmental responsibility.
Nigerian Dominance: Nigerian CEOs dominate the list due to greater data availability, followed by Kenyan and South African leaders.
Women in Leadership: While progress is evident, women still represent only 15% of the top 100, highlighting the need for continued efforts to increase female representation in C-suite roles.
Methodology:
Comprehensive Evaluation: The ranking considers various factors, including total shareholder return, market capitalization growth, and ESG performance.
Data-Driven Approach: The analysis relies heavily on data and rigorous research, minimizing reliance on reputation or anecdotal evidence.
Focus on African Leaders: The list exclusively includes CEOs of African origin or nationality, leading companies within the African continent.
Challenges:
Data Limitations: Data availability varies significantly across African countries, particularly in Francophone regions, posing challenges in comprehensive analysis.
Measuring ESG Performance: While efforts are underway, accurately quantifying and comparing ESG performance across diverse companies remains an ongoing challenge.
The 2024 Annual list (in no particular order of importance) of the Top 100 African CEOs: Best Performing CEOs in Africa in 2024,
| West Africa | |||||
| Nigeria | |||||
| # | Company | Industry | CEO/Managing Director | Gender | Nationality |
| 1 | Oando Plc. | Oil and Gas | Wale Tinubu (CON) | M | Nigeria |
| 2 | Cutix Plc. | Manufacturing (Electrical Cables, Wires) | Ijeoma Agnes Oduonye (Mrs.) | F | Nigeria |
| 3 | Guaranty Trust Holding Company (Gtco) | Banking and Finance | Segun Agbaje | M | Nigeria |
| 4 | ABC Transport Plc. | Transport and Logistics | Frank Nneji, OON | M | Nigeria |
| 5 | Wema Bank Plc. | Banking and Finance | Moruf Oseni | M | Nigeria |
| 6 | BUA Group | Cement, Sugar, Flour, Real Estate | Abdul Samad Rabiu, CFR, CON | M | Nigeria |
| 7 | UBA Group | Banking And Finance | Oliver Alawuba | M | Nigeria |
| 8 | Lafarge Africa Plc | Building Materials | Lolu Alade-Akinyemi | M | Nigeria |
| 9 | Flour Mills of Nigeria | Food And Agribusiness | Omoboyede Olusanya | M | Nigeria |
| 10 | MRS Oil Nigeria Plc. | Oil and Gas | Alhaji Sayyu Dantata | M | Nigeria |
| 11 | FBN Holdings | Banking and Finance | Wale Oyedeji | M | Nigeria |
| 12 | Zenith Bank Plc. | Banking and Finance | Dame (Dr.) Adaora Umeoji | F | Nigeria |
| 13 | Eterna Plc. | Energy, Oil and Gas | Abiola Lukman Lawal | M | Nigeria |
| 14 | Dangote Industries Limited | Conglomerate (Diversified) | Aliko Dangote, GCON | M | Nigeria |
| 15 | Unity Bank Plc. | Banking and Finance | Mrs Tomi Somefun | F | Nigeria |
| 16 | Transnational Corporation Plc. (Transcorp) | Conglomerate (Power, Hospitality) | Dr. Owen Omogiafo, OON | F | Nigeria |
| 17 | John Holt Plc. | Hospitality | Dr. Christopher Ezeh | M | Nigeria |
| 18 | Fidelity Bank Plc. | Financial Services | Nneka Onyeali-Ikpe | F | Nigeria |
| 19 | Royal Exchange Plc. | Financial Services | Irene Opara | F | Nigeria |
| 20 | Livestock Feeds Plc. | Agriculture (Animal Feed) | Adegboyega Adedeji | M | Nigeria |
| 21 | SAHCO Plc. | Services | Adenike Aboderin (Mrs.) | F | Nigeria |
| 22 | Guinea Insurance Plc. | Financial Services | Ademola Abidogun | M | Nigeria |
| 23 | Vitafoam Nigeria Plc. | Consumer Goods (Foam Manufacturing) | Taiwo Ayodele Adeniyi | M | Nigeria |
| 24 | Honeywell Group | Conglomerate | Obafemi Otudeko | M | Nigeria |
| Ghana | |||||
| 25 | Ecobank Ghana | Banking and Finance | Abena Osei-Poku (Mrs.) | F | Ghanaian |
| 26 | Enterprise Group | Conglomerate | Daniel Larbi-Tieku | M | Ghanaian |
| 27 | Standard Chartered Bank Ghana, Plc. | Banking and Finance | Mansa Nettey | F | Ghanaian |
| 28 | Agricultural Development Bank Plc. | Banking and Finance | Alhassan Yakubu-Tali | M | Ghanaian |
| 29 | Cocoa Processing Company Plc. | Agriculture (Manufacturing) | Hon. Kojo Ofori-Safo | M | Ghanaian |
| 30 | GCB Bank Plc. | Banking and Finance | Kofi Adomakoh | M | Ghanaian |
| 31 | Republic Bank (Ghana) Plc. | Banking and Finance | Benjamin Dzoboku | M | Ghanaian |
| 32 | CalBank Plc | Banking and Finance | Carl Selasi Asem | M | Ghanaian |
| 33 | GOIL Plc. | Oil and Gas | Hon. Kwame Osei-Prempeh | M | Ghanaian |
| 34 | SIC Insurance Company Limited | Financial Services | Hollistar Duah-Yentumi | F | Ghanaian |
| Senegal | |||||
| 35 | Sonatel Group | Telecommunication | Sékou Dramé | M | Senegalese |
| 36 | Bank of Africa (Senegal) | Banking and Finance | Sadio Cissé | M | Senegalese |
| 37 | Societe General Senegal | Banking and Finance | Harold Coffi | M | Ivorian |
| 38 | Total Energies Senegal | Oil and Gas | Badara Mbacké | M | Senegalese |
| Togo | |||||
| 39 | Ecobank Transnational Incorporated | Banking and Financial Services | Jeremy Awori | M | Kenyan |
| 40 | Oragroup SA | Banking and Financial Services | Ferdinand Ngon Kemoum | M | Cameroonian |
| Ivory Coast | |||||
| 41 | Bank of Africa CI | Banking and Finance | Redouane TOUBI | M | Moroccan |
| Burkina Faso | |||||
| 42 | Coris Bank Group | Banking and Finance | Idrissa Nassa | M | Burkina Faso |
| North Africa | |||||
| Egypt | |||||
| 43 | Commercial International Bank (CIB) | Banking and Finance | Hussein Majid Abaza | M | Egyptian |
| 44 | Orascom Construction | Engineering and Construction | Osama Bishai | M | Egyptian |
| 45 | Telecom Egypt | Telecommunication | Mohamed Nasir Eldin | M | Egyptian |
| 46 | Emaar Misr | Real Estate Development | Mostafa Mounir El Kady | M | Egyptian |
| 47 | El Sewedy Electric | Electrical Equipment and Energy | Ahmed Ahmed Sadek El Sewedy | M | Egyptian |
| 48 | Eastern Company, SAE | Manufacturing, Trading and Tobacco | Hany Aman Hussain Attia | M | Egyptian |
| 49 | Palm Hills Development | Real Estate Development | Yasseen Mansour | M | Egyptian |
| 50 | Juhayna Food Industries | Food and Beverages | Seif Thabet | M | Egyptian |
| 51 | Organge SAE | Telecommunication | Yasser Shaker | M | Egyptian |
| Morocco | |||||
| 52 | Attijariwafa Bank | Banking and Finance | Mohamed El Kettani | M | Moroccan |
| 53 | Bank of Africa (BMCE) | Banking and Finance | Othman Benjelloun | M | Moroccan |
| 54 | OCP Group | Mining and Chemicals | Mostafa Terrab | M | Moroccan |
| 55 | Maroc Telecom | Telecommunications | Abdeslam Ahizoune | M | Moroccan |
| 56 | Managem Group | Mining | Imad Touni | M | Moroccan |
| Tunisia | |||||
| 57 | Banque International Arabe De Tunisie | Banking and Finance | Elyes JEBIR | M | Tunisian |
| 58 | Societe Tunisiene De L’air (Tunisair) | Aviation | Khaled Chelly | M | Tunisian |
| 59 | Poulina Group Holding | Food Processing, Construction | Mahjoub Langar | M | Tunisian |
| 60 | Tunisian Company of Electricity and Gas | Energy (Electricity and Gas) | Mohamed Ammar | M | Tunisian |
| 61 | Carthage Cement | Cement and Building Materials | Brahim Sanaa | M | Tunisian |
| East Africa | |||||
| Kenya | |||||
| 62 | Safaricom Plc. | Telecommunication | Peter Ndegwa | M | Kenyan |
| 63 | Equity Group Holdings | Banking and Finance | Dr. James Mwangi | M | Kenyan |
| 64 | Kenya Commercial Bank Group | Banking and Finance | Paul Russo | M | Kenyan |
| 65 | Kenya Airways Plc. | Aviation | Allan Kilavuka | M | Kenyan |
| 66 | Centum Investment Company | Investment and Asset Management | Dr. James Mworia Mwirigi | M | Kenyan |
| 67 | East African Breweries Limited | Beverages and Manufacturing | Jane Karuku | F | Kenyan |
| 68 | Co-Operative Bank of Kenya | Banking and Finance | Gideon Muriuki | M | Kenyan |
| 69 | Kenya Electricity Generating Company Plc. | Energy and Power | Eng. Peter Njenga | M | Kenyan |
| 70 | Britam Holdings Plc. | Financial Services | Tom Gitogo | M | Kenyan |
| 71 | Kenya Power & Lighting Co Ltd. | Energy and Power | Dr. (Eng.) Joseph Siror | M | Kenyan |
| Tanzania | |||||
| 72 | NMB Bank Plc. | Banking and Finance | Ruth Zaipuna | F | Tanzanian |
| 73 | CRDB Bank Plc. | Banking and Finance | Abdulmajid Mussa Nsekela | M | Tanzanian |
| 74 | Tanzania Breweries Limited | Beverages and Manufacturing | Michelle Kiplin | F | South African |
| 75 | TOL Gases Limited | Energy, Oil and Gas | Daniel M. Warungu | M | Tanzanian |
| Uganda | |||||
| 76 | Uganda Clays Limited | Manufacturing | Reuben Tumwebaze | M | Uganda |
| 77 | Jubilee Holdings Limited | Financial Services | Dr. Julius Kipngetich | M | Uganda |
| 78 | DFCU Limited | Banking and Finance | Charles-M.-Mudiwa | M | Uganda |
| Rwanda | |||||
| 79 | Bank of Kigali Plc. | Banking and Finance | Dr. Diane Karusisi | F | Rwanda |
| Southern Africa | |||||
| South Africa | |||||
| 80 | Anglo American | Mining | Craig Miller | M | South African |
| 81 | Standard Bank Group | Banking and Finance | Simpiwe “Sim” Tshabalala | M | South African |
| 82 | Firstrand Limited | Banking and Finance | Mary Vilakazi | F | South African |
| 83 | Vodacom Group | Telecommunications | Mohamed Shameel Aziz Joosub | M | South African |
| 84 | Shoprite Holdings | Retail (Supermarkets) | Pieter Engelbrecht | M | South African |
| 85 | Nedbank Group | Banking and Finance | Jason Patrick Quinn | M | South African |
| 86 | Sasol Limited | Energy and Chemicals | Simon Baloyi | M | South African |
| 87 | Bidvest Group | Service, Freight, Finance | Mpumi Madisa | F | South African |
| 88 | Tiger Brands | Food and Beverages | Tjaart Kruger | M | South African |
| 89 | Discovery Limited | Insurance and Finance | Adrian Gore | M | South African |
| Botswana | |||||
| 90 | Debswana Diamond Company | Mining (Diamonds) | Andrew Maatla Motsomi | M | Botswana |
| 91 | First National Bank of Botswana | Banking and Finance | Steven Lefentse Bogatsu | M | Botswana |
| 92 | Letshego Holdings Limited | Financial Services | Aobakwe “Aupa” Monyatsi | M | Botswana |
| Namibia | |||||
| 93 | Capricorn Group Limited | Investment and Asset Management | David Nuyoma | M | Namibian |
| 94 | Alpha Namibia Industries Renewable Energy Power Limited (ANIREP) | Energy Services | Iyaloo Ya Nangolo | M | Namibian |
| Mauritius | |||||
| 95 | MCB Group | Banking and Finance | Jean Michel Ng Tseung | M | Mauritius |
| Central Africa | |||||
| Angola | |||||
| 96 | Sonangol | Oil and Gas (State-Owned) | Sabastiao Gaspar Martins | M | Angolian |
| 97 | Banco Angolano Investmentos (BAI) | Banking and Finance | Luis Filipe Rodrigues Lelis | M | Angolian |
| 98 | Endiama (National Diamond Company) | Mining (Diamonds) | José Manuel Ganga Júnior | M | Angolian |
| 99 | Banco De Poupance E Credito (BPC) | Banking and Finance | Antonio Andre Lopes | M | Angolian |
| 100 | Banco de Fomento Angola | Financial Services | Luís Roberto F. Gonçalves | M | Angolian |
Aaa Sierra Leone
When are we going to be counted among those people
You can make a difference and be there as well. It’s about time and we have to work harder to meet demands and create an impact in the African community and the world at large. Those that made the top hundred has got one common characteristic from my point of view; CONSISTENCY. I think it’s time we start being intentional about whatever we’ll doing to bring change and environmental sustainability. We dae Kam dae by God power.
Daniel, it sad to say, when you people started telling yourself and your citizens and not working together and making Sierra Leone a better nation to the world. No regards and respect your leaders, even the little achievements they have done, then, Sierra Leone will be amongst the top 100 CEOs. You people killed those who wanted to make Sierra Leone a better nation for politics. For example, Williams, steady bongo, etc, etc, etc. How can the CEO come out of Sierra Leone. Is sad. The evil that mans do will one day judge 👨⚖️ or her. Ok. Think about it. God bless Sierra Leone 🇸🇱. Happy new year to my people and my beloved country ❤️.