Equity Group Holdings has emerged as the most profitable company in East and Central Africa, reporting KSh75.5 billion in profit after tax for 2025, according to the latest regional earnings data.
The ranking highlights the continued dominance of Kenyan financial institutions and telecom firms in the region’s corporate profitability landscape, with banks accounting for the majority of top earners.
Close behind Equity Group is Safaricom, which posted KSh69.8 billion in profit for the financial year 2025, reinforcing its position as one of Africa’s most profitable telecommunications companies.
KCB Group ranks third with KSh68.35 billion in profit, further underlining the strong performance of Kenya’s banking sector.
Kenyan Firms Dominate Rankings
Of the top companies listed, a significant majority are headquartered in Kenya, reflecting the country’s role as a regional financial hub.
Other Kenyan firms in the ranking include:
- Co-operative Bank of Kenya – KSh25.4 billion (2024)
- Absa Bank Kenya – KSh22.9 billion (2025)
- NCBA Group – KSh21.9 billion (2024)
- I&M Group – KSh15.0 billion (2024)
- Stanbic Bank Kenya – KSh13.7 billion (2024)
- East African Breweries Limited – KSh12.2 billion (FY2025)
- Diamond Trust Bank – KSh7.64 billion (2024)
The strong showing by Kenyan firms is largely attributed to the depth of the country’s financial markets, diversified business models, and regional expansion strategies pursued by leading banks.
Regional Players Gain Ground
While Kenyan firms dominate, companies from Tanzania and Uganda also feature prominently in the rankings.
NMB Bank of Tanzania reported KSh37.13 billion in profit for 2025, making it the highest-performing bank outside Kenya in the list.
It is closely followed by CRDB Bank, also from Tanzania, which posted KSh35.89 billion in earnings.
In Uganda, MTN Uganda recorded KSh23.35 billion in profit for 2025, highlighting the strong performance of telecom operators in the region.
Stanbic Bank Uganda also made the list with KSh15.34 billion in profit for 2024.
Banking Sector Leads Profit Growth
The data shows that the banking sector remains the most profitable industry across East and Central Africa.
Banks dominate the rankings due to several factors:
- High interest rate environment boosting lending margins
- Growth in digital banking and mobile financial services
- Expansion into regional markets
- Increased non-funded income from fees and commissions
Kenyan banks, in particular, have expanded aggressively across the region, with subsidiaries in countries such as Uganda, Tanzania, Rwanda, South Sudan, and the Democratic Republic of Congo.
This regional diversification has helped cushion them against domestic economic shocks while unlocking new revenue streams.
Telecom Sector Maintains Strong Performance
The inclusion of Safaricom and MTN Uganda underscores the continued profitability of the telecommunications sector.
Telecom operators benefit from:
- Strong demand for mobile data services
- Growth in mobile money platforms
- Increasing digital adoption across East Africa
Safaricom’s M-Pesa platform, in particular, remains a key driver of revenue and profitability, contributing significantly to its overall earnings.
Economic and Market Implications
The concentration of profitability among a relatively small group of large firms reflects broader trends in the region’s corporate landscape.
Large banks and telecom companies continue to benefit from scale, strong balance sheets, and established customer bases, allowing them to outperform smaller competitors.
For investors, the rankings highlight the sectors and companies driving earnings growth in East and Central Africa.
For policymakers, the data underscores the importance of maintaining a stable financial system and supportive regulatory environment to sustain growth in the banking and telecommunications sectors.
Looking ahead, profitability in the region is expected to remain closely tied to macroeconomic conditions, including interest rate trends, inflation, and currency stability.
Banks are likely to continue benefiting from lending activity and regional expansion, while telecom companies are expected to capitalise on digital transformation and financial inclusion.
As competition intensifies and new entrants emerge, the ability to innovate and scale operations will remain critical for sustaining profitability.
