Zimbabwe recovers, up 4% in September ’22 SSA ex SA Top 30 report

Published On: October 21, 2022By Tags: Pan-African

Sub-Saharan Africa’s (excluding South Africa’s) stock markets fell 2.7% in September 2022 and are down 7.3% year to date.

The market capitalisation of the Top 30 companies for September 2022 was US$86 billion, down 7.1% on August.

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:

  1. Zambia 27.9%
  2. Seychelles 15.1%
  3. Nigeria 9.0%
  4. Tanzania 7.3%
  5. Rwanda 6.2%

Zambia, Zimbabwe and BRVM, rose by 5.1%, 4.0% and 1.3% respectively in September 2022.

Kenya, Ghana and Nigeria, fell by 7%, 5.0% and 3.2% respectively in September 2022.

Ireland Blyth (Mauritius) re-enters the Top 30, replacing Vivo Energy (London listed).

Fundamental valuation outliers

NOTE: Valuations figures are listed as at 30 September 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 1,215.00 NGN
  • IHS Towers -1.6% with a share price at 5.58 USD

Companies with the highest and lowest Price to Earnings Ratio

  • Ireland Blyth 37.1x with a share price at 52.75 MUR
  • AVZ Minerals, IHS Towers and Helios Towers are loss making.

Companies with the highest and lowest Dividend Yield

Companies with the highest and lowest Price to Book Value Ratio

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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.