Dangote Cement, MTN Nigeria and BUA Cement account for 42% of the Top 30 in West Africa

Published On: August 7, 2023By Tags: West-Africa

Dangote Cement, MTN Nigeria and BUA Cement account for 42% of the Top 30 in West Africa as of 30 June 2023.

BRVM and Ghana had positive YTD US$ returns of of 0.6% and 3.0% respectively, while Nigeria had negative YTD US$ returns of 28.4%.

Fundamental valuation outliers

NOTE: Valuations figures are listed as at 30 June 2023. Please click on the company name for updated share price.

Companies with the highest and lowest Return on Equity

  1. Nestle Nigeria 161.6% with a share price at 1,250.00 NGN.
  2. Seplat Energy 3.6% with a share price at 1,399.80 NGN.

Companies with the highest and lowest Price Earnings Ratio

  1. Geregu Power 73.7x with a share price at 300.00 NGN.
  2. ETI 1.7x with a share price at 15.20 NGN.

Companies with the highest and lowest Dividend Yield

  1. Ecobank CI 12.3% with a share price at 5,285.00 CFA.
  2. Coris Bank Burkina Faso and Oragroup Togo are currently not paying dividends.

Companies with highest and lowest Price Book Value Ratio

  1. Nestle Nigeria 32.71x with a share price at 1,250.00 NGN.
  2. ETI 0.35x with a share price at 15.20 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.