South Central Africa’s companies are the smallest in Sub-Saharan Africa excluding South Africa with the largest company ranking number 24 of the Top 30 companies in Sub-Saharan Africa excluding South Africa.

2022 US$ earnings for the 14 companies which have reported have increased by 11%.

4 of the 5 countries represented in the report had positive US$ returns (YTD):

1. Zimbabwe 43.4%
2. Malawi 28.2%
3. Namibia 13.4%
4. Botswana 0.5%

Fundamental valuation outliers

NOTE: Valuations figures are listed as at 31 March 2023. Please click on the company name for an updated share price.

Companies with the highest and lowest Return on Equity

1. Airtel Malawi 89.7% with a share price at 75.01 MWK
2. Econet Wireless Zimbabwe Limited 1.2% with a share price at 267.41 ZWL

Companies with the highest and lowest Price to Earnings Ratio

1. EcoCash Holdings Zimbabwe and Econet Wireless Zimbabwe Limited >100.0x with share prices at 70.00 ZWL and 267.41 ZWL respectively.
2. ZANACO 3.8x with a share price at 3.06 ZMK

Companies with the highest and lowest Dividend Yield

1. FNB Namibia 14.3% with a share price at 37.00 NAD
2. Namibian Breweries, Econet Wireless Zimbabwe Limited, EcoCash Holdings Zimbabwe, and Zambian Breweries are currently not paying dividends.

Companies with the highest and lowest Price to Book Value Ratio

1. Airtel Malawi 24.76x with a share price at 75.01 MWK
2. Letshego Holdings Limited 0.51x with a share price at 1.23 BWP

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