Article: Nigeria still tops, but shares drop value.(West Africa)

While the telecoms industry has been the undoubted success story of the African economy over the past decade, this is not reflected in our table of the Top 50 biggest listed companies in West Africa. Top-ranked Sonatel is the industry's only representative, while Nigeria's newly reformed and consolidated banking sector dominates the remaining rankings. The West African giant may now be suffering from the falling oil price but the success of its banks suggests that revenues generated during the oil boom are still having a positive impact.

That Sonatel of Senegal secures top spot in our regional survey with market capitalisation of $2.49bn indicates that West ...

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