a field guide to African stock markets
What’s gotten into the Ghana Stock Exchange?
The MSCI Ghana Index has soared of late. It’s now 37% higher than it was at the beginning of the year. Think about that. That’s 37% in just over two months!
Let’s see what’s behind the rally and which stocks have done the most to drive the market higher. The following is a countdown of the top seven performing Ghanaian stocks and their US Dollar-adjusted gains.
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Five years ago, Kenyans were in the midst of one of the darkest months in their nation’s history. A deeply flawed presidential election resulted in protests that rapidly descended into a spate of ethnic violence.
Unsurprisingly, the Nairobi Stock Exchange took a dive, losing $591 million on 2008′s first day of trading.
At the time, it was difficult to see how the country would recover. But Kenyan businesses picked up the pieces and carried on, producing goods and services, creating jobs, and investing in a better future.
As Kenyans warily enter into another election season (polls are scheduled for March), it can be difficult to see past the daily political headlines. They can cause even the most savvy investor to overreact – selling in a dip and buying on a bounce.
So, I think it’s helpful to take a closer look at how resilient Kenyan businesses have been in order to help us keep a long-term view.
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Nigerian companies dominate this year’s list of the best-performing stocks in frontier Africa. In fact, domination may be an understatement. First, second, and third place all went to Nigerian stocks, and all but four of 2012′s 10 biggest gainers hail from Africa’s most populous nation.
Here’s a list of the Sub-Saharan stocks (not including South Africa) that have gained the most in US dollar terms since the start of the year.
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If you’re anything like me, you’ve contracted a full-blown case of Olympic fever. So, in the spirit of the week, I’d like to hand out some medals for some outstanding performances delivered by Africa’s stock exchanges. It’s the inaugural InvestingInAfrica.net Olympiad!
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The Nairobi Securities Exchange posted a remarkable 28.5% return during the first half of 2012 – a performance strong enough to make it the world’s third strongest bourse. It should come as little surprise then, that the East African market is home to five of Africa’s 10 best-performing stocks since the first of the year.
Here’s a list of the Sub-Saharan stocks (not including South Africa) that have gained the most in US dollar terms since the start of the year.
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Construction stocks dominate this list of the Johannesburg Stock Exchange’s top performers thanks in part to President Zuma’s announcement of “massive” infrastructure development. Share prices in the sector are at their highest level in three years as investors anticipate a turnaround.
But hard hats are not required in order to read further.
Companies from a range of other industries bulldozed their way into the top ten, too.
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It’s been a tough year for Africa investors. Most sub-Saharan indexes are in the red and some have dramatically underperformed the S&P500. But a handful of frontier listings managed to buck the trend.
Here’s a list of Africa’s top-performing stocks year-to-date.
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Coffee Junkie. Air Guitarist. Number Cruncher. Sometime Jogger. Labrador Wrestler. Former Partner, Kivuno Capital Management. Editor, InvestingInAfrica.net. Read More.