Sub-Saharan Africa’s (excluding South Africa’s) stock markets US$ returns increased by 2.3% in Feb. Top 30 report
Sub-Saharan Africa’s (excluding South Africa’s) stock markets rose 2.3% in February and are up 3.2% year to date.
US$ returns by market
Seven of the fourteen Sub-Saharan Africa’s (excluding South Africa’s) stock markets have positive US$ returns year to date:
- Malawi 12.7%
- Nigeria 8.9%
- Zimbabwe 6.9%
- Tanzania 3.8%
- BRVM Cote d’Ivoire 0.8%
- Rwanda 0.4%
- Seychelles 0.1%%
Zimbabwe, Malawi, Nigeria, Tanzania and BRVM rose by 8.9%, 4.9%, 4.8%, 2.9% and 1.0% respectively in February 2023.
Ghana, Namibia, Zambia, Uganda, Mauritius, Botswana, Kenya, Seychelles and Rwanda fell by 4.7%, 4.5%, 3.5%, 3.4%, 2.9%, 2.8%, 1.9%, 1.0% and 0.9% respectively in February 2023.
Orange CI, made its entrance into the Top 30, replacing Nigerian Breweries.
Fundamental valuation outliers
NOTE: Valuations figures are listed as at 28 February 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 1,080.30 NGN
- IHS Towers with a share price at 1.10 EUR
Companies with the highest and lowest Price to Earnings Ratio
- Geregu Power 67.7x with a share price at 275.50 NGN
- AVZ Minerals, IHS Towers and Helios Towers are loss making.
Companies with the highest and lowest Dividend Yield
- MTN Ghana 17.8% with a share price at 0.92 GHS.
- 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 1.10 EUR
- First Bank Nigeria 0.48x with a share price at 11.65 NGN
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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.
