Malawi YTD US$ returns up 61.8% in Sep. ’23 South Central Africa’s Top 30 Report

Published On: November 29, 2023By Tags: Southern-Africa

As of September 2023 Malawi companies possess the highest market capitalisation, totaling US$5.3bn followed by Botswana.

H1 2023 US$ earnings for the 22 companies that have reported have increased by 19%.

4 of the 5 countries represented in the report had positive US$ returns (YTD):

  1. Malawi 61.8%
  2. Namibia 21.7%
  3. Zambia 9.6%
  4. Botswana 4.5%

Fundamental valuation outliers

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

Companies with the highest and lowest Return on Equity

  1. Namibian Breweries 241.8% with a share price at 36.59 NAD
  2. Econet Wireless Zimbabwe Limited -2.8% with a share price at 499.22 ZWL

Companies with the highest and lowest Price to Earnings Ratio

  1. TNM Malawi > 100x with share prices at 29.88
  2. Econet Wireless Zimbabwe Limited is loss making with share price at 499.22 ZWL.

Companies with the highest and lowest Dividend Yield

  1. Namibian Breweries 72.0% with a share price at 36.59 NAD
  2. Econet Wireless Zimbabwe Limited, TNM Malawi, and Zambian Breweries are currently not paying dividends.

Companies with the highest and lowest Price to Book Value Ratio

  1. Airtel Malawi 29.23x with a share price at 100.45 MWK
  2. Letshego Holdings Limited 0.53x with a share price 1.27 BWP

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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.