At a Glance
- Shoprite tops Africa’s food industry with $13.78 billion revenue and operations in over 10 nations.
- Diverse product lines include fresh produce, packaged foods, beverages, and essential household staples.
- These companies power Africa’s economy via jobs, local supply chains, and strong GDP contributions.
Africa’s food industry is a powerhouse of economic activity, blending tradition, innovation, and scale to meet the needs of over 1.4 billion people.
At its forefront are industry leaders such as Shoprite, Pick n Pay, Tiger Brands, and Dangote Food Business, whose operations span retail, manufacturing, and distribution.
These companies not only dominate their domestic markets but also have a strong footprint across multiple African countries, underscoring their reach and influence.
Shoprite, Africa’s largest supermarket chain, operates in more than 10 African nations and posted a revenue of $13.78 billion in 2024.
Pick n Pay, a household name in South Africa, earned $6.5 billion in the same year, while Tiger Brands, a leading FMCG manufacturer, recorded $2.12 billion.
Nigeria’s Dangote Food Business also plays a pivotal role, generating $514.11 million in revenue.
Their product offerings are as diverse as the continent’s tastes, ranging from fresh produce and pantry staples to processed foods, snacks, and beverages.
Beyond stocking shelves and kitchen cupboards, these companies drive Africa’s economic growth through job creation, investment in local supply chains, and substantial contributions to GDP.
Shore Africa’s curated list of the top 10 food businesses in Africa celebrates the brands shaping the continent’s culinary traditions and powering its economic progress.
1. Shoprite
Revenue in 2024 fiscal year: $13.78 billion
Country: South Africa
Shoprite Holdings, Africa’s largest supermarket chain and a leading retailer partly owned by South African billionaire Christo Wiese, operates in more than 10 African countries, supplying both fresh and processed foods. For the 52 weeks ended June 30, 2024, group revenue rose 12 percent year-on-year to R246.08 billion ($13.78 billion), up from R219.65 billion ($12.3 billion) in 2023.
2. Pick n Pay
Revenue in 2024 fiscal year: R115.37 billion ($6.5 billion)
Country: South Africa
Pick n Pay, one of South Africa’s largest supermarket chains, is controlled by the wealthy Ackerman family. Founded in 1967 by Raymond Ackerman and now chaired by Gareth Ackerman, the family holds a 25.53 percent beneficial stake, or 124.68 million issued shares. For the 2024 fiscal year, the retailer posted revenue of R115.37 billion ($6.5 billion).
3. Tiger Brands
Revenue in 2024 fiscal year: $2.12 billion
Country: South Africa
Tiger Brands, a leading FMCG manufacturer with household names such as Albany, Tastic Rice, and Jungle Oats, sells its branded food and beverages in more than 20 countries. For the 2024 fiscal year, revenue reached R37.66 billion ($2.12 billion), supported by strong export growth and operations across multiple African markets.
4. Cosumar
Revenue in 2024 fiscal year: $1.69 billion
Country: Morocco
Industry: Food (Sugar)
Cosumar, Morocco’s dominant sugar producer with over 60% market share, exports to more than 30 countries and is a key player in North Africa’s food industry. In the 2024 fiscal year, revenue climbed to MAD15.26 billion ($1.69 billion), up from MAD13.87 billion ($1.53 billion) in 2023.
5. Flourmills Nigeria Plc
Revenue in 2024 fiscal year: N2.3 trillion ($1.5 billion)
Country: Nigeria
Flour Mills of Nigeria, the country’s leading food and agro-allied group, posted a 49 percent revenue jump in the 2024 fiscal year to N2.3 trillion ($1.5 billion), up from N1.5 trillion ($976.8 million) in 2023. Growth was driven by sustained demand across all business segments.
6. RCL Foods
Revenue in 2024 fiscal year: $1.46 billion
Country: South Africa
Industry: Food (Poultry, Sugar, Snacks)
RCL Foods, known for household brands such as Rainbow Chicken, Yum Yum peanut butter, and Selati sugar, operates in five African countries with a diversified food portfolio. In the 2024 fiscal year, group revenue from continuing operations rose 6.8 percent to R26 billion ($1.46 billion) from R24.3 billion in 2023, driven mainly by higher sales pricing in response to sustained high input costs.
7. Innscor Africa
Revenue in 2024 fiscal year: $910.1 million
Country: Zimbabwe
Innscor Africa, a diversified food and retail conglomerate, reported a 13.19% revenue increase in 2024 to $910.1 million, from $804.04 million a year earlier. The Mill-Bake division — producing bread, flour, and biscuits — led growth, with sales climbing 16.91% to $508.62 million. Founded in 1997 by Zed Koudounaris and Michael Fowler, the group operates popular brands such as Chicken Inn, Bakers Inn, and Colcom, and maintains a strong presence across Southern Africa. Koudounaris, who holds a 2.5% stake, remains a low-profile but influential force in Zimbabwe’s corporate landscape.
8. Edita Food Industries
Revenue in 2024 fiscal year: $882 million
Country: Egypt
Edita Food Industries, the Cairo-based snack food giant led by Egyptian businessman Hani Berzi, posted a 33.2 percent revenue jump in 2024, rising from EGP 12.13 billion ($239.55 million) to EGP 16.15 billion ($319.12 million), driven by price adjustments and higher sales volumes across core categories. The company dominates Egypt’s snack market, producing packaged cakes, croissants, rusks, and wafers through an extensive retail network. Berzi, founder and chairman, owns 41.95% of Edita via Quantum Invest BV, a stake worth over $170 million.
9. Choppies
Revenue in 2024 fiscal year: $650 million
Choppies Enterprises, a leading supermarket chain with a strong presence in Botswana, Zimbabwe, and Zambia, saw revenue for the 2024 fiscal year surge 31.68% to BWP8.54 billion ($650 million), up from BWP6.49 billion ($494.3 million) in 2023. Growth was driven by strong sales in its core markets. The Gaborone-based supermarket chain co-founded by Ramachandran Ottapathu and Farouk Ismail in 1986, continues to hold its position as Botswana’s largest retail chain.
10. Dangote Food Business
Revenue in 2024 fiscal year: $514.11 million
Dangote Sugar and NASCON – Nigeria
Africa’s largest conglomerate, Dangote Industries, commands leading positions in the continent’s food sector through its sugar and salt subsidiaries. In 2024, Dangote Sugar posted revenue of N665.69 billion ($433.71 million), while NASCON, its salt-processing arm, generated $80.4 million. Combined, the food division brought in $514.11 million for the fiscal year.
