Sub-Saharan Africa’s (excluding South Africa’s) stock markets were down 17% in US$ terms in June and are down 15.2% year to date.
US$ returns by market
Eight of the fourteen Sub-Saharan Africa’s (excluding South Africa’s) stock markets have positive US$ returns year to date:
- Malawi 67.6%
- Namibia 18.1%
- Zambia 15.5%
- Seychelles 3.7%
- Uganda 3.7%
- Ghana 3.0%
- Tanzania 1.7%
- BRVM Cote d’Ivoire 0.6%
Markets rising in June 2023 include Namibia, Ghana, BRVM Cote d’Ivoire, Botswana, Uganda, Kenya and Malawi which rose by 10.2%, 8.2%, 4.7%, 2.3%, 2.0%, 1.7% and 1.7% respectively.
Markets falling in June 2023 include Nigeria, Zimbabwe, Tanzania, Rwanda, Seychelles and Mauritius which fell by 33.6%, 30.5%, 2.8%, 1.0%, 0.8% and 0.5% respectively.
Fundamental valuation outliers
NOTE: Valuation figures are listed as at 30 June 2023. Please click on the company name for the updated share price.
Companies with the highest and lowest Return on Equity
- Nestle Nigeria 161.6% with a share price at 1,250.00 NGN
- IHS Towers -31.7% with a share price at 9.78 USD
Companies with the highest and lowest Price to Earnings Ratio
- Geregu Power 73.7x with a share price at 300.00 NGN
- Endeavour Mining, AVZ Minerals, IHS Towers, Helios Towers and Africa Oil are loss making.
Companies with the highest and lowest Dividend Yield
- Zimplats 11.9% with a share price at 23.99 AUD
- IHS Towers, AVZ Minerals and Helios Towers are currently not paying dividends.
Companies with the highest and lowest Price to Book Value Ratio
- Helios Towers >100.00x with a share price at 0.93 GBP
- Seplat Energy Plc 0.62x with a share price at 1,399.80 NGN
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.