This report is an update as of December 2014 and covers the Top 30 companies in Sub-Sahara Africa ex SA by market capitalisation.
- The market capitalisation of the Top 30 companies in December 2014 was down 0.5% on the month and down 13.6% YTD to US$79.3bn. Page 2 sets out their latest earnings releases.
- One company’s US$ share prices is at an all time high (page 2).
- New entrants: SBM Mauritius and Lafarge Zambia. Departures: Transnational Corp and UBA
- Our analysis shows:
- Nineteen companies with a ROE above 25%;
- Twelve companies with a historic P/E below 10.0;
- Six companies with a dividend yield above 5%; and
- Eight companies with a price/book value below 1.50 times.
- We have included valuation graphs detailing Price/Book ratios vs ROE’s (page 7).
- We have highlighted the impact of currency movements on the region’s stock markets (page 8).
- We have included graphs of Kenyan and Nigerian inflation and interest rates (page 9). Nigeria has positive real interest rates of 2% and Kenya positive real rates of 2.6%.
Read more in the document below: