The Ledger
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Miah: African equities outperformed other emerging markets in 2022
“Post-nineteen there was COVID, a lot of noise, but definitely this year is the first year in many that you've had outperformance by Africa. And very importantly to us, the bottom line continues to grow. The jaws are widening, but the bottom line continues to g…”
Miah: African equities generated a 7% to 9% USD CAGR from 2002 to 2020
“Between 2002 and 2020 the two decades overall, despite the last five years being quite difficult, it's been a reasonable period. So the market as a whole, if you just took the beta, the two 50 names that we're looking at, And the market grew at seven, eight, n…”
Smith: South Africa accounts for roughly 60% of investable African equities
“South Africa is a very, very big part of that, about 60% in terms of number of names, as well as market cap.”
Miah: The African investable equity universe totals $500 billion across 260 companies
“The opportunity set, so when we exclude small caps and we exclude commodities, Today, there's around 260 names. In the early 2002, there's about a hundred names. So in terms of names, not significant growth, but when you look at market cap, more importantly, p…”