The Nigerian Companies Taking Over Africa

The Nigerian Companies Taking Over AfricaNigeria, Africa’s largest economy, has produced some of the most influential companies shaping the continent’s business landscape. From banking and telecommunications to energy and aviation, Nigerian multinational corporations are expanding their reach, creating jobs, and transforming industries across Africa. 

These companies are not just thriving locally, they are leaving a lasting imprint on economies from West to East Africa, and even beyond.

Dangote Group

At the forefront of Nigeria’s corporate expansion is the Dangote Group, led by Africa’s richest man, Aliko Dangote. Best known for Dangote Cement, which operates in 17 African countries, the conglomerate has been instrumental in Africa’s infrastructure boom. 

Its cement plants provide the raw materials for roads, bridges, and skyscrapers across the continent. But Dangote’s ambitions go far beyond cement. 

The company has expanded into agriculture, food processing, and energy, with its most ambitious project yet—Africa’s largest petroleum refinery. The $20 billion Dangote Refinery, located in Lagos, is expected to reduce Africa’s reliance on imported fuel, transforming the region’s energy sector.

Interswitch

Founded in 2002, Interswitch is a leading African digital payments and commerce company, operating in Nigeria, Kenya, Uganda, Gambia, and Germany. It revolutionized Nigeria’s banking industry with the launch of Verve, Africa’s first EMV-certified payment card.

With partnerships across the continent and a growing digital ecosystem, Interswitch continues to shape Africa’s transition to a cashless economy.

Zenith Bank

Zenith Bank, founded in 1990, has grown into one of Africa’s most influential financial institutions. With a market capitalization of over ₦1.59 trillion, the bank operates in multiple African countries, including Ghana, Sierra Leone, and Gambia.

Its presence extends beyond Africa, with subsidiaries in the United Kingdom and a representative office in China, positioning it for global expansion.

As digital banking gains momentum, Zenith continues to lead in technology-driven financial services, ensuring seamless transactions for millions of customers.

Sahara Group

Sahara Group, an energy and infrastructure powerhouse, has operations spanning 42 countries across Africa, Europe, the Middle East, and Asia. Through Sahara Power Group (SPG), the company has become the largest privately owned power generation company in Sub-Saharan Africa.

With a vision to generate 5,000MW of electricity by 2026, Sahara Group is playing a crucial role in tackling Africa’s energy crisis. Its acquisition of Egbin Power Plc, Nigeria’s largest thermal power plant, underscores its commitment to strengthening Africa’s power infrastructure.

United Bank for Africa (UBA)

Founded over 70 years ago, UBA is a pan-African bank operating in 20 African countries, as well as the United States, United Kingdom, France, and the UAE. It is the only Sub-Saharan African bank licensed to take deposits in the U.S., highlighting its international credibility.

With over 45 million customers and 87,000 PoS terminals, UBA continues to push for financial inclusion across Africa. Under the leadership of Tony Elumelu, the bank has expanded rapidly, reinforcing its vision to be Africa’s global bank.

Guaranty Trust Holding Company (GTCO)

GTCO, the parent company of Guaranty Trust Bank (GTBank), is another financial giant reshaping Africa’s banking sector. Operating in 11 countries, including Ghana, Kenya, and Côte d’Ivoire, GTCO has built a reputation for innovation.

The company’s digital banking solutions and customer-centric approach have earned it a loyal customer base, while its impressive market capitalization of ₦2.1 trillion highlights its dominance in the sector.

First Bank of Nigeria

Established in 1894, First Bank of Nigeria is one of the continent’s most enduring financial institutions. With subsidiaries in DR Congo, Ghana, Gambia, Guinea, Sierra Leone, and Senegal, the bank has maintained its influence across Africa.

First Bank has been at the forefront of digital banking, ensuring seamless financial services while maintaining its traditional banking dominance. Its ₦1.04 trillion market capitalization reflects its continued strength in the sector.

Flutterwave

Nigeria’s fintech boom has produced several groundbreaking companies, but Flutterwave stands out as a true game-changer. Founded in 2016, Flutterwave provides secure, seamless digital payment solutions across multiple African markets, including Nigeria, Kenya, Ghana, and South Africa.

With a valuation of $3.2 billion, Flutterwave has become one of Africa’s top fintech unicorns, partnering with companies like Visa and PayPal to facilitate global transactions. By revolutionizing online payments, Flutterwave is enabling businesses across Africa to thrive in the digital age.

Access Bank

Once a relatively small player, Access Bank has transformed into one of Africa’s largest banks. With operations in 24 countries, including subsidiaries in Dubai, China, Lebanon, and India, the bank is making its mark well beyond Africa.

Access Bank’s acquisition of Diamond Bank in 2019 accelerated its growth, allowing it to serve over 60 million customers. As it continues to expand into new territories, Access Bank remains a key driver of financial inclusion in Africa.

Globacom

Founded by billionaire Mike Adenuga, Globacom (Glo) has been a force in Africa’s telecommunications industry since 2003. With over 60 million subscribers, Glo is Nigeria’s second-largest telecom provider and has expanded into Benin and Côte d’Ivoire.

The company made history in 2011 by launching Glo-1, an $800 million submarine fiber-optic cable connecting Nigeria to the United Kingdom. This infrastructure has improved internet connectivity across Africa, strengthening Glo’s impact in the telecom industry.

IHS Towers

IHS Towers, one of the world’s largest independent telecom tower operators, has played a vital role in Africa’s connectivity expansion. Founded in 2001, the company manages over 40,000 towers across 11 countries, including Nigeria, South Africa, and Brazil.

After going public on the New York Stock Exchange in 2021, IHS Towers has continued investing in renewable energy solutions, ensuring a sustainable future for Africa’s digital economy.

Air Peace: Dominating African Skies

In aviation, Air Peace has emerged as Nigeria’s largest airline, operating flights across 12 countries. Founded in 2013 by Allen Onyema, Air Peace has expanded its international routes to destinations like Mumbai, South Africa, and Israel.

The airline gained widespread recognition in 2019 when it offered free evacuation flights for Nigerians stranded in South Africa during xenophobic attacks. Today, Air Peace continues to expand, bridging Africa’s aviation gap.

Taleveras Group: A Powerhouse in Energy

Founded in 2004, Taleveras Group is a major player in Africa’s oil and energy sector. With operations in Abuja, London, Geneva, and Cape Town, the company has been instrumental in trading crude oil, refined petroleum products, and natural gas.

Taleveras has also invested in renewable energy and LNG projects, aligning with global efforts to transition to cleaner energy sources.

The Future of Nigerian Multinationals

As Nigeria’s top companies continue expanding across Africa, they are not just boosting the Nigerian economy—they are shaping the future of the continent. Through strategic investments, innovation, and global expansion, these businesses are redefining Africa’s role in the global marketplace.

With a strong entrepreneurial spirit and a commitment to growth, Nigerian multinationals will undoubtedly remain at the forefront of Africa’s economic transformation.