ADVERTISEMENT
No show for African companies as Fortune releases its Global 500 list
Africa has some of the fastest growing companies in the world but their growth could not even see them break into this year's list.
___7027195___https:______static.pulse.com.gh___webservice___escenic___binary___7027195___2017___7___21___12___ahm-storyimage-1050x857
The list is a ranking of the world's largest companies by revenue and according to Fortune, the listed companies generated $21.7trillion in revenues and $1.5 trillion in profits during the 2016 financial year.
Africa has some of the fastest growing companies in the world but not even the growth by companies like Algeria's Sonatrach, Angola's Sonangol, MTN and the Bidvest Group could see them break into this year's list.
This year's list saw companies from 34 countries listed with China the most impressive performer with 115 companies listed, boosted by ten new entrants including e-commerce colossus Alibaba Group Holding.
ADVERTISEMENT
Social media giant Facebook also made the list for the same time.
American tech giant Apple was the most profitable during 2016 followed by four other Chinese companies all of whom were banks.
Overall, American retailer Walmart, retained its place at the top of the list for the fourth year in a row, raking in almost $500 million in revenues, followed by four Chinese companies; China State Grid($315m), SINOPEC ($267m) and China National Petroleum ($262m).
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.com.gh
Recommended articles
Truck driver arrested for allegedly causing train accident on Tema-Mpakadan railway line
Kia driver who caused accident involving Ghana’s new train reports himself to Police
No passenger injured in accident involving Ghana’s newly imported train – Railways Minister
NAGRAT gives govt one-week deadline to address unpaid pensions affecting 700,000 workers
Inside story of how Ghana’s new train got involved in accident on a test run
She sent naked photos to Dubai lover while I battled kidney disease - Erico speaks on divorce
How did young politicians get so rich in just 5 to 7 years - Franklin Cudjoe asks
Artificial Intelligence will affect around 40% of the global workforce — IMF