Angola’s Sonangol considered to be Africa’s second-largest company

5 March 2013

Angolan oil company Sociedade Nacional de Combustíveis de Angola (Sonangol) has been considered to be the second-largest company in Africa by results in a study published last week in Paris by Jeune Afrique magazine.

The study looked at around 500 African companies or companies with African headquarters and, for the second year in a row, Sonangol was ranked second behind Sonatrach, a fuel company from Algeria.

According to the study these two companies posted robust results, which have led to them being ranked amongst the world’s top 500 companies and they are only not getting bigger because they are unlisted.

As well as Sonangol other Angolan companies or companies operating in Angola were ranked in the study, including Total E&P Angola in 50th place, diamond company Empresa Nacional de Diamantes de Angola (Endiama) in 128th place – rising 22 places against the 2012 ranking – and mining company Catoca Sociedade Mineira in 227th place. (macauhub)