Zimbabwe US$ returns down 32.8% in May ’22 Top 30 report

Published On: June 23, 2022By Tags: Pan-African

Sub-Saharan Africa’s (excluding South Africa’s) stock markets fell 2.8% in May 2022 but are up 4.2% year to date.

The market capitalisation of the Top 30 companies for May 2022 was US$111bn, down 2.6% on April.

US$ returns by market

Eight of the fourteen Sub-Saharan Africa’s (excluding South Africa’s) stock markets have positive US$ returns year to date :

  1. Zimbabwe 27.2%
  2. Nigeria 23.7%
  3. Tanzania 9.8%
  4. Zambia 8.4%
  5. Rwanda 6.1%
  6. Mauritius 4.5%
  7. Seychelles 3.1%
  8. Botswana 1.6%

Nigeria, Rwanda, Tanzania and Botswana rose 6.8%, 2.6%, 2.2% and 1.0% respectively in May 2022.

Ghana, Kenya, Malawi and Zimbabwe fell 8.1%, 14.9%, 16.3% and 32.8% respectively in May 2022.

Fundamental valuation outliers

NOTE: Valuations figures are listed as at 30 May 2022. Please click on the company name for the updated share price.

Companies with the highest and lowest Return on Equity

  • Nestle Nigeria 187.3% with a share price at 1,440.00 NGN
  • Helios Towers -75.3% with a share price at 1.14 GBP

Companies with the highest and lowest Price to Earnings Ratio

  • Econet Wireless 47.3x with a share price at 238.42 ZWL
  • AVZ Minerals, IHS Towers and Helios Towers are loss making.

Companies with the highest and lowest Dividend Yield

  • Guaranty Trust Bank 13.3% with a share price at 22.55 NGN
  • IHS Towers, AVZ Minerals, BUA Foods and Helios Towers are currently not paying dividends.

Companies with the highest and lowest Price to Book Value Ratio


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About the Author: Hartland-Peel Africa Equity Research