Zambia YTD stock returns jump to 96.7% (Q4’21)
South Central Africa’s companies are the smallest in Sub-Saharan Africa (excluding South Africa) with the largest company ranking number 34 of the Top 30 companies in SSA.
Some Zimbabwean and Zambian stocks saw dramatic price rises in the past year; National Foods was up 70% to 1,323%, whilst Chilanga Cement (formerly Lafarge Zambia) was up 39% to 750% in Q4 2021.
Big Cap stocks in South Central Africa are less profitable compared to West Africa and East Africa whose Big Cap companies have weighted average ROE’s of 61% and 40% respectively.
4 of the 5 countries represented in the report had positive US$ returns (YTD):
Fundamental valuation outliers
NOTE: Valuations figures are listed as at 31 December 2021. Please click on the company name for an updated share price.
Companies with the highest and lowest Return on Equity
- BAT Zimbabwe 88.6.% with a share price at 3,201.00 ZWL
- Press Corporation 2.1% with a share price at 1,900.00 MWK
Companies with the highest and lowest Price to Earnings Ratio
- BAT Zimbabwe 77.4x with a share price at 3,201.00 ZWL
- Copperbelt Energy Corporation 4.1x with a share price at 2.65 ZMK
Companies with the highest and lowest Dividend Yield
- FNB Botswana 22.0% with a share price at 2.50 BWP
- Ecocash Holdings, BAT Zimbabwe, First Capital Holdings and Zambian Breweries are currently not paying dividends.
Companies with the highest and lowest Price to Book Value Ratio
- BAT Zimbabwe 68.59x with a share price at 3,201.00 ZWL
- Copperbelt Energy Corporation 0.58x with a share price at 2.65 ZMK
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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.
