× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS
×

Numbers crunched: Top 10 Transnational Corporations in the world vs Kenya's economy

NEWS
By Valentine Kondo | January 4th 2019
View of  Apple offices in Chengdu City, China. Forbes has listed Apple at number 8 in the top 10 largest companies in 2018. [Photo: Courtesy]

According to statistics from global business tracker Trading Economics, Kenya’s GDP in 2017 stood at $74.94 billion (Sh7.65 trillion). In 2018, The International Monetary Fund put it at $85.98 billion (Sh8.78 trillion).

The corporations' size, and therefore ranking, have been measured by computing a combination of their sales, profits, assets and market value. 

Below, Forbes Global 2000 10 biggest multinationals in the world in relation to Kenya’s budget and gross domestic product (GDP).

Industrial and Commercial Bank of China

Industrial and Commercial Bank of China. [Photo: Courtesy]

Offering banking and financial services, the bank has a market value of Sh31.80 trillion.

The financial service provider, therefore, can finance Kenya’s 2018/2019 Sh3 trillion budget over 10 times in a row.

China Construction Bank

China Construction Bank. [Photo: Courtesy]

Headquartered in Beijing, China, CCB is valued at Sh26.71 trillion in 2018 with total sales increasing to $143.2 billion.

The banking and financial service provider market value is equivalent 3 times of Kenya’s GDP.

JP Morgan Chase

JP Morgan Chase. [Photo: Courtesy]

The banking and financial service provider is headquartered in NewYork, USA.

In 2018, the company recorded a profit of Sh2.7 trillion that can fund Kenya’s budget for a year.

The profits can also finance Kenya’s Universal Health Care (UHC) of Sh34 billion 71 times.

Berkshire Hathaway

Berkshire Hathaway CEO, Warren Buffet. [Photo: Courtesy]

Headquartered in Omaha, US, the conglomerate registered total sales of Sh24.04 trillion with a market value of Sh491.9 billion in 2018.

Headed by Warren Buffet, the company’s profits of Sh4.05 trillion is half Kenya’s latest GDP as reported by International Monetary Fund.

Agricultural Bank of China

Agricultural Bank of China. [Photo: Courtesy]

The financial service provider is located in Beijing, China.

By the end of 2018, the banking company’s market value was Sh18.81 trillion with Sh13.20 trillion total sales.

The value of its sales is 400 times the amount of revenue collected by Kenya Revenue Authority of Sh33 billion as of April 2018, according to the figures from the National Treasury.

Bank of America

Bank of America operates its headquarters at 101 N. Tryon St. in Charlotte, USA. [Photo: Courtesy]

The banking and financial service provider is at number six in Forbes 2000 Global companies.

With a market value of Sh23.70 trillion, BoM registered total sales of Sh9.41 trillion by 2018.

The total sales during the period are equivalent to three times Kenya’s Budget for the financial year 2018/19.

Wells Fargo

Wells Fargo bank offices. [Photo: Courtesy]

According to Forbes, the  US financial service provider registered a Sh10.52 trillion overall sales in 2018. Market value of the banking company stands at Sh27.11 trillion.

According to CNBC, Wells Fargo collected revenue of Sh2.23 trillion in the third quarter of 2018. The revenue is 80 times Kenya’s projected Sh27.5 billion revenue collection for 2018/19 fiscal year.

Apple Inc

Apple logo. [Photo: Courtesy]

The computer hardware and software giant is headquartered in Cupertino, US, with a market value of Sh92.69 trillion with total sales of Sh25.27 trillion.

Apple’s market value is, therefore, over 10 times Kenya’s 2018 GDP of 8.78 trillion. 

Bank of China

Bank of China. [Photo: Courtesy]

Headquartered in Beijing, China, the financial service provider as well as banking service provider is worth Sh16.21 trillion with total sales recorded in 2018 reaching Sh12.07 trillion.

Total profit for the year was Sh2.69 trillion.

The banks’ profits can develop 6,725 leather industrial parks of Sh0.4 billion each as outlined by Kenya’s 2018/19 Budget.  

Ping An Insurance Group

Ping An Insurance Group. [Photo: Courtesy]

Situated in Shenzen China, the insurance company is worth Sh18.54 trillion with total sales of Sh14.46 trillion in 2018.

The revenue of Ping can establish 360 Cancer Institutes that have been allocated Sh400 million by the Treasury in 2018/19 financial year.

Share this story
Uhuru makes surprise visit at Sh3b State sponsored project
President Uhuru Kenyatta on Thursday made an impromptu visit to a livestock multiplication centre in Taita-Taveta.
Dog walking becomes the newest hustle in town
Dog walking is now a status symbol. Owning a pet is cool. I nowadays meet lots of Kenyans and foreigners walking their dogs and some running.
.
RECOMMENDED NEWS
Feedback