Sub-Saharan Africa’s (excluding South Africa’s) stock markets were up 4.1% in US$ terms in July and are down 11.7% year to date.
US$ returns by market
Nine of the fourteen Sub-Saharan Africa’s (excluding South Africa’s) stock markets have positive US$ returns year to date:
- Malawi 70.2%
- Namibia 26.0%
- Ghana 9.7%
- Zambia 8.6%
- BRVM Cote d’Ivoire 6.0%
- Uganda 4.3%
- Botswana 4.1%
- Seychelles 3.2%
- Tanzania 0.1%
Markets rising in July 2023 include Nigeria, Namibia, Ghana, Botswana, BRVM Cote d’Ivoire, Rwanda, Mauritius, Malawi and Uganda which rose by 9.2%, 6.7%, 6.5%, 5.9%, 5.3%, 3.5%, 1.6%, 1.5% and 0.6% respectively.
Markets falling in July 2023 include Zimbabwe, Zambia, Kenya, Tanzania and Seychelles which fell by 13.2%, 6.0%, 2.8%, 1.6% and 0.4% respectively.
Fundamental valuation outliers
NOTE: Valuation figures are listed as at 31 July 2023. Please click on the company name for the updated share price.
Companies with the highest and lowest Return on Equity
- Airtel Malawi Plc 97.7% with a share price at 100.07 MWK
- IHS Towers -31.3% with a share price at 8.10 USD
Companies with the highest and lowest Price to Earnings Ratio
- Geregu Power 84.8x with a share price at 345.00 NGN
- Endeavour Mining, AVZ Minerals, IHS Towers, Nestlé Nigeria, Helios Towers and Africa Oil are loss making.
Companies with the highest and lowest Dividend Yield
- MTN Uganda 12.6% with a share price at 170.00 UGX
- 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 0.90 GBP
- Nestle Nigeria Plc negative with a share price at 1,175.00 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.