The number of registered companies in Kenya stands at over 310,000, according to the Ministry of Industrialisation
Some renowned Kenyan companies such as Equity Bank, Co-operative Group and East African Breweries Ltd defied the effects of the COVID-19 pandemic to post impressive profits
Safaricom retained its position as Kenya’s most profitable company in 2021 after posting KSh 68.68 billion net profit
According to the Ministry of Industrialisation’s data, the number of registered companies in Kenya stands at over 310,000. Peter Ndegwa heads Kenya’s most profitable company, Safaricom. Photo: Peter Ndegwa. Source: Twitter Despite the high number of companies, only 65 are listed at the Nairobi Securities Exchange (NSE).
Some renowned Kenyan companies such as Equity Bank, Co-operative Group and East African Breweries Ltd defied the effects of the COVID-19 pandemic to post impressive profits. List of most profitable Kenyan companies in 2021
1. Safaricom
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Telecommunication giant Safaricom controlled a market share of 63.7% according to the Communication Authority of Kenya’s first quarter sector statistics report for the financial year 2020/2021.
Safaricom’s website states it makes over $ 1 billion (KSh 112.8 billion) in revenues annually.
"Safaricom is one of a small group of about 400 companies across Africa whose annual revenues are more than $1 billion," it said.
The telco reported KSh 68.68 billion in profit in the 2020/2021 financial year ending March 2021, representing a 6.8% drop.Despite the drop, it still emerged as Kenya’s most profitable company. 2. Kenya Commercial Bank (KCB) Kenya Commercial Bank posted a 131% jump in net profit in the 2021 third quarter to KSh 25 billion driven by higher income and reduced provisions.The Group recorded a 16% rise in total income to KSh 79.9 billion, on account of higher interest income on account of an increase in earning assets.An interim dividend of KSh 1.00 for every ordinary share of KSh 1.00 held was approved for shareholders. 3. Equity Bank Equity Bank was established in 1984 by Peter Munga as a mutual society.In August 2004, it transitioned to Equity Bank and was listed on the Nairobi Securities Exchange (NSE) two years later.In 2019, the lender re-branded again into Equity Group Holdings Ltd with branches and customers across the East African region.Its half-year profit doubled to KSh 17.5 billion, with earnings per share coming in at KSh 4.65.Analysts from […]
