West Africa’s Top Companies: Ivorian Growth vs. Nigerian Struggles

West Africa’s economic landscape in 2025 showcases contrasting fortunes. Ivorian companies have experienced significant growth, with four entries in the regional rankings and the BRVM stock exchange reaching a record $36 billion market capitalization. In contrast, Nigerian firms face challenges, notably due to the naira’s devaluation. Dangote Cement’s market value has declined from $11.2 billion in 2022 to $5.3 billion, and BUA Foods has also seen a decrease. Airtel Africa, though listed in Nigeria, has benefited from broader regional expansion, increasing its value from $5 billion to $7.8 billion.

African Business