East Africa’s corporate landscape is witnessing a major shift, highlighted by the meteoric rise of Tanzania’s financial services sector. According to the 2026 East African Top Companies index, Safaricom maintains its regional hegemony with an $8.4 billion market capitalization, driven by a 55% surge in half-year profits to $501 million. However, Tanzania’s CRDB Bank and NMB Bank staged an unprecedented advance, each jumping to a $2.7 billion valuation. This milestone places Tanzania’s premier banks ahead of major Kenyan rivals like Equity Bank and KCB Group for the first time. Across the region, economic expansion continues to strengthen listed firms, with 14 companies now valued above $1 billion, compared with eight in 2025. Meanwhile, Kenya still leads the region with 11 companies in the Top 20.
African Business
