SSA’s FY 2021 reported earnings up 54% in Feb. 2022 Top 30 report
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:
- Zimbabwe 22.7%
- Nigeria 10.4%
- BRVM 7.2%
- Tanzania 6.5%
- Botswana 3.4%
- Seychelles 2.1%
- Mauritius 1.8%
- Namibia 1.1%
- 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
- Guaranty Trust Bank 11.2% with a share price at 26.90 NGN
- MTN Group, IHS Towers, AVZ Minerals, BUA Foods, Helios Towers, Equity Bank and Africa Oil are currently not paying dividends.
Companies with the highest and lowest Price to Book Value Ratio
- Nestle Nigeria 53.21x with a share price at 1,435.00 NGN
- First Bank Nigeria 0.55x with a share price at 11.50 NGN
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.
