South Africa has 67 such companies with combined revenue of $279 billion.<\/p>\n
The report found that there are as many as 8,000 distinct large companies, worldwide, with revenue of $1 billion or more, and three out of four are based in developed regions.<\/p>\n
\u201cWe expect an additional 7,000 companies to grow to this size by 2025\u2014 and seven out of ten of these new entrants are likely to be based in emerging regions,\u201d McKinsey said.<\/p>\n
The US, with 2,123 large firms, topped the list, followed by Japan (1,028), China (577), Germany (462) and United Kingdom (358).<\/p>\n
![\"Emerging](\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2013\/10\/Emerging-markets-companies.png\" "\\"Emerging")
<\/a>Emerging markets companies<\/p><\/div>\n
“Together the companies in our database generate consolidated global revenue of around $57 trillion, which is equivalent in size to a striking 90 percent of global GDP,” the report said.<\/p>\n
By 2025, McKinsey says that\u00a0anticipate that their revenue will climb to some $130 trillion.<\/p>\n
The report noted that\u00a020 cities are home to more than one-third of large companies, with Tokyo leading the way with 613, followed by New York (217), London (193), Osaka (174), and Paris (168).<\/p>\n
In sub-Saharan Africa, Johannesburg and Cape Town are the leading business hubs, with 60% of the region\u2019s headquarters between them. Just ten cities outside South Africa are home to a large head office.<\/p>\n
The MGI CompanyScope database identifies 14 sub-Saharan cities that host large company headquarters whose annual revenue is at least $1 billion. But the number of headquarters is not yet proportionate to GDP.<\/p>\n
According to McKinsey, more than 90% of cities with GDP exceeding $9 billion in Western Europe can lay claim to a large headquarters, but this is not the case in Africa where only one in eight cities does.<\/p>\n
“South Africa is the only country that bucks this trend; it is home to names ranging from energy and chemicals company Sasol to the Bidvest Group distribution and food-services company.”<\/p>\n
The report noted that, during the apartheid years, South Africa was isolated from the international community, and few multinationals established large subsidiaries there. In their absence, local companies grew without foreign competition.<\/p>\n
“Today, Johannesburg, Pretoria, Cape Town, and Durban are among the continent\u2019s leading cities for large companies,”\u00a0McKinsey said.<\/p>\n
More news on South Africa<\/h3>\n
The state of SA broadband<\/strong><\/a><\/p>\n Fix the internet, boost employment: economist<\/a><\/b><\/p>\n SA\u2019s worst customer service revealed<\/strong><\/a><\/p>\n