Econet Wireless replaces Nigerian Breweries in Mar. 2022 Top 30 report
Sub-Saharan Africa’s (excluding South Africa’s) stock markets fell 1.5% in March 2022 but are up 3.2% year to date.
The market capitalisation of the Top 30 companies for March 2022 was US$117bn, up 0.1% on February.
US$ returns by market
Ten of the fourteen Sub-Saharan Africa’s (excluding South Africa’s) stock markets have positive US$ returns year to date :
- Zimbabwe 22.1%
- Nigeria 9.4%
- Tanzania 6.5%
- BRVM 6.1%
- Botswana 6.1%
- Namibia 5.6%
- Zambia 3.9%
- Mauritius 2.6%
- Seychelles 2.1%
- Rwanda 0.3%
Econet Wireless (Zimbabwe) is a new entrant in the Top 30, replacing Nigerian Breweries (Nigeria), a founding Top 30 member.
Fundamental valuation outliers
NOTE: Valuations figures are listed as at 31 March 2022. Please click on the company name for the updated share price.
Companies with the highest and lowest Return on Equity
- Nestle Nigeria 187.3% with a share price at 1,395.00 NGN
- Helios Towers -72.3% with a share price at 1.15 EUR
Companies with the highest and lowest Price to Earnings Ratio
- Tanzania Breweries 35.4x with a share price at 10,900 TZS
- AVZ Minerals, IHS Towers and Helios Towers are loss making.
Companies with the highest and lowest Dividend Yield
- Zenith Bank 13.8% with a share price at 22.40 NGN
- IHS Towers, AVZ Minerals, BUA Foods, Helios Towers and Africa Oil are currently not paying dividends.
Companies with the highest and lowest Price to Book Value Ratio
- Nestle Nigeria 51.72x with a share price at 1,395.00 NGN
- Zenith Bank 0.55x with a share price at 22.40 NGN
Sign up to The Investor Mailing List to receive equities reports for listed companies in Sub-Saharan African markets in your email inbox, and to AfricanFinancials’ Equity Valuation Insights LinkedIn page for access to African stock market valuation insights, annual and earnings reports.
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.
