First National Bank of Botswana (FNBB) has featured in the top 30 companies in the continent if a survey by Harland Peel Africa Equity Research is to go by.
The report, which is an update as of November 2014 and covers the Top 30 companies in Sub-Sahara Africa ex SA by market capitalisation lists the Botswana Stock Exchange listed bank at position 25.
The bank that traces its origions from South Africa rubs shoulders with companies in larger economies of Nigeria, Kenya and Zimbabwe.
FNBB market capitalisation as stated in the report stands at US$ 1,001 million. Nigeria’s Dangote Cement leads the list at about US$17.2 billion and trailed by Nigerian Breweries at US$7.3 billion.
According to Harland Peel Africa Equity Research, the market capitalisation of the Top 30 companies in November 2014 was down 10.3 percent on the month and down 13.2 percent YTD to US$79.7bn.
The report also noted that Sub-Sahara Africa stock ex South Africa markets were down 8.0 percent in November and down 12.1 percent year to date.
The rising markets year to date include Kenya up 13.5 percent, Tanzania up 56.7 percent, and Uganda up 7.8 percent while falling markets are Nigeria down 25.1 percent, Ghana down 22.2 percent and Zimbabwe down 15.2 percent.
“Currency movements year to date have all been negative. The Ghanaian and Zambian currencies year to date are down 26 percent and 12 percent respectively. The Nigerian and Kenyan currencies are down 10% and 4% respectively. Other countries suffered falls of 5 percent -10 percent year to date”.
Tanzania is the star performer following the opening of the market to non-residents, although there has been profit-taking with the market falling 13 percent in November. Kenya has risen 13 percent. Nigeria saw a sell-off of 15 percent in the month rocked by the falling oil price as well as EM events (Ukraine, the Middle East, the Ebola outbreak in West Africa and weak growth numbers from China). Ghana has fallen 22 percent, principally on account of currency weakness, and Zimbabwe has fallen 15 percent year to date.
