Nigeria YTD US$ returns down 25.3% in West Africa Top 30

Published On: November 28, 2023By Tags: West-Africa

Dangote Cement, MTN Nigeria and BUA Cement account for 41% of the Top 30 in West Africa as of 30 September 2023.

BRVM and Ghana had positive YTD US$ returns of of 2.8% and 14.7% respectively, while Nigeria had negative YTD US$ returns of 25.3%.

Fundamental valuation outliers

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

Companies with the highest and lowest Return on Equity

  1. MTN Nigeria 92.2% with a share price at 264.00 NGN.
  2. Oragroup Togo -34.1% with a share price at 2,700 CFA.

Companies with the highest and lowest Price Earnings Ratio

  1. Transcorp Hotels 132.1x with a share price at 44.4 NGN.
  2. Nestle Nigeria, Nigerian Breweries and Oragroup Togo are loss making.

Companies with the highest and lowest Dividend Yield

  1. MTN Ghana 11.4% with a share price at 1.45 GHS.
  2. Coris Bank Burkina Faso and Oragroup Togo are currently not paying dividends.

Companies with highest and lowest Price Book Value Ratio

  1. Geregu Power 17.29x with a share price at 339.50 NGN.
  2. Nestle Nigeria with a negative value.

Download the full report

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.