Dangote Cement, MTN Nigeria and BUA Cement account for 53% of the Top 30 in West Africa

Published On: August 2, 2022By Tags: West-Africa

Dangote Cement, MTN Nigeria and BUA Cement account for 53% of the Top 30 in West Africa as of 30 June 2022.

Only Nigeria had positive US$ returns of 20.9% YTD, while BRVM and Ghana had negative YTD US$ returns of 5.6% and 30.5% respectively.

Fundamental valuation outliers

NOTE: Valuations figures are listed as at 30 June 2022. Please click on the company name for updated share price.

Companies with the highest and lowest Return on Equity

  1. Nestle Nigeria 187.3% with a share price at 1,400.00 NGN
  2. International Breweries -11.8% with a share price at 6.30 NGN

Companies with the highest and lowest Price Earnings Ratio

  1. Nigerian Breweries 37.5x with a share price at 58.80 NGN
  2. International Breweries is loss-making.

Companies with the highest and lowest Dividend Yield

  1. Guaranty Trust Bank 14.6% with a share price at 20.50 NGN
  2. Coris Bank Burkina Faso, BUA Foods PLC , Oragroup Togo, and International Breweries are currently not paying dividends.

Companies with highest and lowest Price Book Value Ratio

  1. Nestle Nigeria 51.91x with a share price at 1,400.00 NGN
  2. United Bank for Africa PLC 0.33x with a share price at 7.45 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.

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