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27 June 2003 SA's Top 20 Companies 6 MTN GROUP Total score: 56,2 Historic score: 43 FM's score: 65 MTN has defied the sceptics. Many criticised management's aggressive play in Africa, particularly its audacious US$285m bid for a cellular licence in Nigeria in 2001. Today it's arguably the leading pan-African cellphone operator, with operations in SA, Uganda, Rwanda, Swaziland and Cameroon. Despite some shareholder and management upheavals, MTN is one of the most successful black-controlled JSE companies. It has more than 5m subscribers in SA and 2m elsewhere in Africa.

SA's TOP 20 COMPANIES Impala Platinum Sasol Pick 'n Pay Abil Anglo Platinum MTN Group Harmony gold Sappi Energy Africa Mr Price Reunert Delta Electrical Afrox Health Chemserve BHP Billiton Trans Hex Ceramic Industries Oceana Altech ABI

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