This report is an update as of February 2015 and covers the Top 30 companies in Sub-Sahara Africa ex SA by market capitalisation.
- The market capitalisation of the Top 30 companies in February 2015 was down 0.5% on the month and 12.5% year to date at US$69.4bn. Pages 2 and 3 set out the share price performance and the latest earnings releases.
- The stock market events of the month were (i) the stabilisation at lower levels in Nigeria and (ii) stock market rises in Kenya and Tanzania - these countries will benefit from falling oil prices.
- Three new all time highs: Safaricom, KCB Bank and Standard Chartered Kenya.
- Our analysis shows:
- We have included valuation graphs detailing Price/Book ratios vs ROE’s (page 8).
- We have highlighted the impact of currency movements on the region’s stock markets (page 9).
- We have included graphs of Kenyan and Nigerian inflation and interest rates (page 10). Nigeria has positive real interest rates of 3.2% and Kenya positive real rates of 3.0%.
|17 companies with a ROE > 25%.||9 companies with a historic P/E < 10.0 times.|
|5 companies with a dividend yield > 5%.||7 companies with a price/book value < 1.50 times.|
Read more in the document below: