Kenya US$ returns down 43% YTD in Dec. 2023 Top 30 East African companies

Published On: February 2, 2024By Tags: East-Africa

Safaricom’s US$3.5bn market capitalisation accounts for 19% of market capitalisation of the Top 30 companies and its weighting skews the data.

East Africa, Mauritius and Seychelles markets US$ returns were down 23% year to date in December 2023. This decrease was primarily led by Kenya, which saw a sharp drop of 43%.

3 markets in the report have positive US$ returns year to date:-

  1. Tanzania 3.1%
  2. Seychelles 2.5%
  3. Uganda 1.9%

Fundamental valuation outliers

NOTE: Valuations figures are listed as at 31 December 2023. Please click on the company name for updated share price.

Companies with the highest and lowest Return on Equity

  1. Airtel Uganda >100.0% with a share price at 93.76 UGX.
  2. Vodacom Tanzania 5.5% with a share price at 770.00 TZS.

Companies with the highest and lowest Price to Earnings Ratio

  1. Vodacom Tanzania 38.2x with a share price at 770.00 TZS.
  2. KCB Bank 1.8x with a share price at 21.90 KES.

Companies with the highest and lowest Dividend Yield

  1. Stanbic Uganda 18.9% with a share price at 32.00 UGX.
  2. Vodacom Tanzania is currently not paying dividends.

Companies with the highest and lowest Price to Book Value Ratio

  1. Airtel Uganda 55.87x with a share price at 93.76 UGX.
  2. SBM Holdings Ltd and KCB Bank 0.32x with share prices at 4.55 MUR and 21.90 KES respectively.

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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.