22 October 2003
Oil exploration group Energy Africa and furniture manufacturer Steinhoff International have been named joint winners of the 2003 SA Top Companies Global Awards.
The awards – sponsored by Business Report, Barloworld and PricewaterhouseCoopers, and presented by Finance Minister Trevor Manuel – reflect the “transnationality” of listed South African companies. There were 41 entrants for this year’s awards, 19 more than in 2002.
The criteria used to select the winners were percentage of foreign turnover, foreign assets and foreign employees. The data was collated and audited by PricewaterhouseCoopers.
Energy Africa and Steinhoff were judged joint winners after receiving a ranking of 73 percent each, marginally ahead of third-placed Sappi with 69 percent.
Energy Africa managing director Rhidwaan Gasant told Business Report: “We are pleased to be minnows among the titans. We are honoured to be in their company … It is a bonus to celebrate the success of South African companies, and it shows that we can compete on the international front.”
Steinhoff International group managing director Danie van der Merwe told the newspaper that it was a “great honour” for a company that has only been listed for five years to “be among these giants”.
Previously, the award called for entries from any company, regardless of size. This year the award changed to a ranking system of the top 100 companies by market capitalisation on the JSE Securities Exchange. Companies that are a subsidiary of another listed company, or have their primary listing overseas, were excluded.
Because of the importance of the New Partnership for Africa’s Development (Nepad) and the South African government’s attempts to promote opportunities in Africa, a category was created this year to find the listed company that has most successfully expanded into Africa.
The inaugural award went to Illovo Sugar, with a ranking of 53 percent. Shoprite Checkers took second spot with 50 percent.
Most Global Index Top 25
- Energy Africa
- Steinhoff International
- Metro Cash & Carry
- Illovo Sugar
- Alexander Forbes
- Avis Southern Africa
- Impala Platinum
- Northam Platinum
- MTN Group
- Anglovaal Mining
- Murray & Roberts
- Standard Bank Group
- Anglovaal Industries
- Shoprite Holdings
- Harmony Gold