Nigerian Undervalued based on future growth

MTN Nigeria Communications

Market Cap: ₦17.2t

Provides broadband fixed wireless access, telecommunication, and mobile financial services to consumer, commercial, and institutional customers in Nigeria.

Zenith Bank

Market Cap: ₦5.4t

Provides banking and other financial services to corporate and individual customers in Nigeria, rest of Africa, and internationally.

Guaranty Trust Holding

Market Cap: ₦5.3t

Operates as a financial holding company for Guaranty Trust Bank Limited that provides commercial banking services in Nigeria, Ghana, Gambia, Sierra Leone, Liberia, Cote D'Ivoire, Kenya, Uganda, Rwanda, Tanzania, and the United Kingdom.

Nigerian Breweries

Market Cap: ₦2.6t

Engages in brewing, marketing, and selling of lager, stout, non-alcoholic malt drinks, and soft drinks in Nigeria.

United Bank for Africa

Market Cap: ₦2.0t

Provides corporate, commercial, and retail banking services in Nigeria, Africa, and internationally.

Guinness Nigeria

Market Cap: ₦881.8b

Engages in brewing, packaging, marketing, and selling whisky, vodka, liqueur, gin, spirits, beers, non-alcoholic drinks, and ready-to-drink products primarily in Nigeria.

Nascon Allied Industries

Market Cap: ₦567.5b

Engages in the processing of raw salt into refined, edible, and grade salt in Nigeria.