As of June 2023 Malawi companies possess the highest market capitalisation, totaling US$5.1bn. They are followed by Botswana with US$2.01bn, Namibia with US$1.97bn, Zimbabwe with US$1.67bn, and Zambia with US$1.45bn.

South Central Africa’s companies are the smallest in Sub-Saharan Africa excluding South Africa with the largest company ranking number 22 of the Top 30 companies in Sub-Saharan Africa excluding South Africa.

2022-23 full year US$ earnings for the 19 companies that have reported have decreased by 18%.

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

1. Malawi 67.6%
2. Namibia 18.1%
3. Zambia 15.5%

Fundamental valuation outliers

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

Companies with the highest and lowest Return on Equity

1. Airtel Malawi 97.7% with a share price at 100.06 MWK
2. TNM Malawi -3.8% with a share price at 29.97 MWK

Companies with the highest and lowest Price to Earnings Ratio

1. Zambian Breweries Plc 38.5x with share prices at 7.00 ZMK
2. Econet Wireless Zimbabwe Limited and TNM Malawi are loss making with a share prices at 881.42 ZWL and 29.97 MWK respectively.

Companies with the highest and lowest Dividend Yield

1. BIHL 13.3% with a share price at 19.21 BWP
2. Namibian Breweries, 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 29.12x with a share price at 100.06 MWK
2. Standard Bank Namibia 0.71x with a share price at 6.50 NAD

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