Sub-Saharan Africa’s (excluding South Africa’s) stock markets US$ returns increased by 2.9% in Nov. Top 30 report
Sub-Saharan Africa’s (excluding South Africa’s) stock markets rose 2.9% in November 2022 but are down 15.5% year to date.
The market capitalisation of the Top 30 companies for November 2022 was US$92 billion, up 7.5% on October.
US$ returns by market
Six of the fourteen Sub-Saharan Africa’s (excluding South Africa’s) stock markets have positive US$ returns year to date:
Namibia, Malawi, Nigeria and Botswana, rose by 9.0%, 8.3%, 7.9% and 5.7% respectively in November 2022.
Zimbabwe, Zambia, BRVM and Kenya fell by 14.8%, 4.5%, 2.8% and 2.7% respectively in November 2022.
Fundamental valuation outliers
NOTE: Valuations figures are listed as at 30 November 2022. Please click on the company name for the updated share price.
Companies with the highest and lowest Return on Equity
- MTN Nigeria 134.0% with a share price at 218.50 NGN
- IHS Towers -14.5% with a share price at 7.22 USD
Companies with the highest and lowest Price to Earnings Ratio
- Ireland Blyth 28.8x with a share price at 50.00 MUR
- AVZ Minerals, IHS Towers and Helios Towers are loss making.
Companies with the highest and lowest Dividend Yield
- Guaranty Trust Bank 15.0% with a share price at 20.00 NGN
- Bua Foods, IHS Towers, AVZ Minerals, Helios Towers and Ireland Blyth are currently not paying dividends.
Companies with the highest and lowest Price to Book Value Ratio
- Helios Towers 28.67x with a share price at 1.15 GBP
- First Bank Nigeria 0.46x with a share price at 11.20 NGN
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About the Author: Hartland-Peel Africa Equity Research
Sub-Saharan Africa ex SA: Equity, debt and FX research covering sixteen countries and advising institutional investors. Proprietary data base of sixteen African stock markets, 250+ companies which is one of the most extensive and complete. New issues, IPO’s and distribution of equity on privatisation. Development of lending and corporate finance opportunities for the bank, privatisation and asset management. An ‘A’ rated equity analyst by South African institutional investors as polled by the Financial Mail in 1998 and 1999.
