United Kingdom IC Publications 7 Coldbath Square, London EC1R 4LQ Tel: +44 20 7841 3210 Fax: Admin +44 20 7713 7898 Editorial: +44 20 7841 3211 icpubs@africasia.com www.africasia.com

France IC Publications 609 Bat A 77 rue Bayen 75017 Paris Tel: +33 1 44 30 81 00 Fax: +33 1 44 30 81 11 info@icpublications.com www.icpublications.com founder Afif Ben Yedder Editor Anver Versi a.versi@africasia.com Art Director Jason Venkatasamy jason@africasia.com STRATEGIC Director Christian Udechukwu Associate Editors Tom Nevin Gerard Choisnet Ridha Kefi Hichem Ben Yaïche Alexa Dalby CorrespondentAT-large Stephen Williams Editorial Assistant Carole Lambert Correspondents IN AFRICA Barnabas Thondlana Lee Odera Omolo Blamuel Njururi Herald Tagama John Amah Derek Otieno Chris Ndivanga Masupu Rakabane SPECIAL Correspondents Moin Siddiqi Dr Karamo Sonko Neil Ford Eluem Izezi Subscriptions IC Publications PO Box 2068 Bushey, Herts, WD23 3Z Telephone: +44 20 8950 9117 Fax: +44 20 8421 8155 icpublications@alliancemedia.co.ukw www.africasia.com/subs See page 59 for subscription offer details.

group Publisher Omar Ben Yedder o.benyedder@africasia.com GENERAL MANAGER Leila Ben Hassen l.benhassen@africasia.com Development Director Patricia Bonnin p.bonnin@ icpublications.com Group Sales Director Tibor Fuchsel advertising@africasia.com SENIOR PROJECT MANAGER Darren Moore d.moore@africasia.com Advertising Sales Directors Medrine Chitty Elisée Marie Ndiana Matthew Nick Rosefield SENIOR SALES EXECUTIVe Nadia Osho-Williams CLASIFIED ADS classified@africasia.com Distribution William Pearson Production Manager Sandra Segade-Hermida Ghana –DISTRIBUTION Nana Asiamah Bekoe Tel: +233 21 258058 kwabusek@gmail.com GHANA – SPECIAl PROJECTS AND advertising Silvia Salvetti Tel: +233 24 910 5995 top@topreports.org SENEGAL Nathalie Desanti-Tounkara n.desanti@africasia.com Mobile: +22176 51 51265 NORTH AFRICA Néjib Ben Yedder n.benyedder@africasia.com ICEVENTS icpubs@africasia.com Printers Headley Brothers Ltd The Invicta Press Queens Road, Ashford Kent, TN24 8HH All pictures AFP unless indicated. Registered with the British Library. ISSN 0142-9345 ©2012 IC Publications Ltd N° DE COMMISSION PARITAIRE 0213 K 89410 Mensuel: Avril 2012 Dépôt légal

ContentsAPRIL2012ISSUEN°385WWW.AFRICASIA.COM

16 Cover Story African Business’ Top 250 Companies

Editorial 15 Time to face some home truths

Cover Story 16 AfricanBusiness’ Top 250 Companies 17 Roller-coaster ride for Africa’s top companies 20 Top 250 Table 26 North Africa 28 West Africa 32 East Africa 35 Southern Africa 37 Global comparisons New entrants

Companies 38 Clean water for a thirsty continent

Special Report: Construction 40 Is the boom here to stay? 44 Boost for building materials 48 The strength of African cement Africa’s new oil producers line up 52 Putting a roof on Africa 54 Medina Palms – luxury with a conscience

International Focus: Turkey-Africa 56 Ankara revisits old friends 58 Turkey favours joint ventures in Africa

Special Report: Nigeria 60 Hanging tough 70 Ribadu returns 72 Bringing order to licensing chaos

Countryfiles 74 Kenya: Fair winds ahead 76 S Africa: Gordan’s trillion-rand splurge

Reviews Book/Music 80 TheNewScrambleforAfrica 82 AViewfromSomewhere