Sub-Saharan African ex South Africa H1 2023 earnings down 32% YoY

Published On: August 22, 2023By Tags: Pan-African

Earnings of the 29 companies that have so far reported for the six months ended June 2023 amounted to US$2.1bn, down 32% on H1 2022.

H1 2023 vs H1 2022 US$ earnings by market

4 out of 7 markets in the report have H1 2023 earnings up from H1 2022:

  1. Zambia: US$47m up 128%
  2. BRVM – West Africa: US$221 up 20%
  3. Uganda: US$62m up 20%
  4. Tanzania: US$183m up 12%
  5. Kenya: US$338m down -7%
  6. Ghana: US$261m down -15%
  7. Nigeria: US$517m down -66%

Companies with the highest earnings increases:

Below are the companies in the report with positive earnings.

Please click on the company name for up to date share price information, market capitalisation and 52-week liquidity.

  1. Zanaco: US$47m up 128%
  2. National Salt: US$8m up 105.6%
  3. BUA Foods: US$124m up 31.3%
  4. BICI-CI: US$12m up 23.5%
  5. Stanbic Kenya: US$50m up 23.3%
  6. NMB Bank: US$109 up 21.8%
  7. StanChart Ghana: US$37 up 20.5%
  8. SONATEL: US$209m up 20.3%
  9. MTN Uganda: US$62m up 20.2%

Download the full report

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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.