Sub-Sahara Africa (exSA) markets down 0.3% YTD in June’ 22 Top 30 report

Published On: August 5, 2022By Tags: Pan-African

Sub-Saharan Africa’s (excluding South Africa’s) stock markets fell 4.3% in June 2022 and are down 0.3% year to date.

The market capitalisation of the Top 30 companies for June 2022 was US$100bn, down 9.3% on May.

US$ returns by market

Six of the fourteen Sub-Saharan Africa’s (excluding South Africa’s) stock markets have positive US$ returns year to date :

  1. Nigeria 20.9%
  2. Zambia 12.1%
  3. Tanzania 9.1%
  4. Rwanda 7.2%
  5. Seychelles 5.0%
  6. Botswana 2.8%

No major markets rose in June 2022. Rwanda and Zambia had positive US$ returns, of 1% and 3.4% respectively in June 2022.

Nigeria, Kenya, BRVM, Mauritius and Zimbabwe fell 2.2%, 4.3%, 4.4%, 7.2% and 34.5% respectively in June 2022.

Fundamental valuation outliers

NOTE: Valuations figures are listed as at 30 June 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 1,400.00 NGN
  • Helios Towers -78.4% with a share price at 1.21 GBP

Companies with the highest and lowest Price to Earnings Ratio

  • Nigerian Breweries 37.5x with a share price at 58.80 NGN
  • AVZ Minerals, IHS Towers and Helios Towers are loss making.

Companies with the highest and lowest Dividend Yield

  • Guaranty Trust Bank 14.6% with a share price at 20.50 NGN
  • IHS Towers, AVZ Minerals, BUA Foods, Helios Towers and Ireland Blyth are currently not paying dividends.

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.