Zimbabwe YTD US$ market returns rallies 153.3% in December 2021 Top 30 Equities Valuation Report

Published On: January 11, 2022By Tags: Pan-African

Sub-Saharan Africa’s (excluding South Africa’s) stock markets rose 0.5% in December and are up 10.2% year to date. Markets falling were Nigeria (down 1.2%), Ghana (down 2.3)% and Zimbabwe (down 4.4%).

The market capitalisation of the Top 30 companies for December 2021 was US$111bn, up 1.7% on November.

US$ returns by market

Six sub-Saharan African stock markets had year-to-date US$ returns above 20% as at 31 December 2021:

    1. Zimbabwe 153.3%
    2. Zambia 96.7%
    3. Seychelles 44.2%
    4. Ghana 38.3%
    5. BRVM Côte d’Ivoire 29.3%
    6. Malawi 27.7%

AVZ Minerals (ASX) and MTN Uganda are new entrants in the Top 30, replacing Africa Oil (TSX) and Access Bank.

Fundamental valuation outliers

NOTE: Valuations figures are listed as at 31 December 2021. Please click on the company name for the updated share price.

“Companies with the highest and lowest Return on Equity

“Companies with the highest and lowest Price to Earnings Ratio

“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.