Zimbabwe market remains bearish, falls 33% in July ’22 Top 30 report
Sub-Saharan Africa’s (excluding South Africa’s) stock markets fell 2.2% in July 2022 and are down 2.5% year to date.
The market capitalisation of the Top 30 companies July 2022 was US$99 billion, down 1.0% on June.
US$ returns by market
Five of the fourteen Sub-Saharan Africa’s (excluding South Africa’s) stock markets have positive US$ returns year to date:
Kenya, Malawi and Zambia rose by 12.4%, 9.5% and 3.4% respectively in July 2022.
Nigeria, Mauritius, Ghana and Zimbabwe fell by 5.2%, 5.3%, 6.9% and 33% respectively in July 2022.
Fundamental valuation outliers
NOTE: Valuations figures are listed as at 31 July 2022. Please click on the company name for the updated share price.
Companies with the highest and lowest Return on Equity
- Nestle Nigeria 215.4% with a share price at 1,262.30 NGN
- Helios Towers -78.2% with a share price at 1.44 GBP
Companies with the highest and lowest Price to Earnings Ratio
- Endeavour Mining 34.0x with a share price at 25.26 CAD
- AVZ Minerals, IHS Towers and Helios Towers are loss making.
Companies with the highest and lowest Dividend Yield
- Guaranty Trust Bank 15.1% with a share price at 19.85 NGN
- IHS Towers, AVZ Minerals, BUA Foods, Helios Towers and Africa Oil are currently not paying dividends.
Companies with the highest and lowest Price to Book Value Ratio
- Nestle Nigeria 46.80x with a share price at 1,262.30 NGN
- First Bank Nigeria 0.45x with a share price at 11.00 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.
