SSA’s FY 2021 reported earnings up 54% in Feb. 2022 Top 30 report

Published On: March 22, 2022By Tags: Pan-African

Sub-Saharan Africa’s (excluding South Africa’s) stock markets rose 3.1% in February 2022 and are up 4.7% year to date.

The market capitalisation of the Top 30 companies for February 2022 was US$117bn, up 0.7% on January.

US$ returns by market

Nine sub-Saharan African stock markets had positive year-to-date US$ returns as at 28 February 2022:

  1. Zimbabwe 22.7%
  2. Nigeria 10.4%
  3. BRVM 7.2%
  4. Tanzania 6.5%
  5. Botswana 3.4%
  6. Seychelles 2.1%
  7. Mauritius 1.8%
  8. Namibia 1.1%
  9. Zambia 0.3%

Africa Oil (listed Canada) is a new entrant in the Top 30, replacing Access Bank (Nigeria).

Fundamental valuation outliers

NOTE: Valuations figures are listed as at 28 February 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 1,435.00 NGN
  • AVZ Minerals 0.00% with a share price at 0.79 AUD

Companies with the highest and lowest Price to Earnings Ratio

  • Helios Towers >100.0x with a share price at 1.46 GBP
  • AVZ Minerals is loss making.

Companies with the highest and lowest Dividend Yield

Companies with the highest and lowest Price to Book Value Ratio

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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.