South African Undervalued Small Caps

Afrimat

Market Cap: R7.7b

Operates as a mining and materials company primarily in the southern African region.

Tharisa

Market Cap: R4.0b

An investment holding company, engages in the mining, processing beneficiation, marketing, sale, and logistics of platinum group metals (PGMs) and chrome concentrates in South Africa, China, Singapore, Hong Kong, the United States, Australia, Japan, and internationally.

Wilson Bayly Holmes-Ovcon

Market Cap: R9.8b

Operates as a construction company in South Africa, rest of Africa, and the United Kingdom.