South African Undervalued based on future growth

Naspers

Market Cap: R791.1b

Operates in the consumer internet industry in Africa, Asia, Europe, Latin America, North America, and internationally.

Harmony Gold Mining

Market Cap: R178.1b

Engages in the exploration, extraction, and processing of mineral properties in South Africa, Papua New Guinea, and Australasia.

Absa Group

Market Cap: R139.5b

Provides retail and business banking, corporate and investment banking, insurance, financial, and wealth management products and services in South Africa and internationally.

Aspen Pharmacare Holdings

Market Cap: R53.4b

Manufactures and supplies specialty and branded pharmaceutical products worldwide.

Northam Platinum Holdings

Market Cap: R46.6b

Through its subsidiary, Northam Platinum Limited, engages in the production and sale of platinum group metals in South Africa, the Americas, Europe, the United Kingdom, Far East, rest of Africa, the Middle East, Australasia, and the People's Republic of China.

Exxaro Resources

Market Cap: R37.0b

Engages in coal, iron ore investment, pigment manufacturing, and renewable energy businesses in South Africa, Europe, Australia, and Asia.

Sappi

Market Cap: R21.1b

Engages in the provision of materials made from woodfiber-based renewable resources in Europe, North America, and South Africa.

Telkom SA SOC

Market Cap: R18.9b

Provides integrated communications and information technology (IT) services to residential, business, government, wholesale, and corporate customers in South Africa, the United States, the United Kingdom, rest of Europe, and internationally.

Motus Holdings

Market Cap: R15.5b

Provides automotive mobility solutions in South Africa, the United Kingdom, Australia, and Asia.

Datatec

Market Cap: R13.2b

Provides information and communication technology (ICT) solutions and services worldwide.

Southern Sun

Market Cap: R10.7b

Owns, leases, and manages hotels in South Africa, Mozambique, the Seychelles, Tanzania, the United Arab Emirates, and Zambia.

Omnia Holdings

Market Cap: R10.6b

Researches, develops, manufactures, and supplies chemicals, specialised services, and solutions for the agriculture, mining, and chemical application industries in South Africa, rest of Africa, and internationally.

Wilson Bayly Holmes-Ovcon

Market Cap: R10.3b

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

Sun International

Market Cap: R9.7b

Owns and operates casino, hotel, and resort properties in South Africa.

Reunert

Market Cap: R9.7b

Operates in the fields of electrical engineering, information communication technologies (ICT), and applied electronics in South Africa, rest of Africa, the United States, Australia, Asia, and Europe.

Tsogo Sun

Market Cap: R8.7b

Engages in the gaming, entertainment, and hospitality business in South Africa.

Afrimat

Market Cap: R8.5b

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

Grindrod

Market Cap: R7.9b

Engages in the logistics services business in North America, the Middle East, the United Kingdom, Isle of Man, rest of Europe, Singapore, Asia, the Far East, Australia, South Africa, and Rest of Africa.

KAP

Market Cap: R6.9b

Engages in industrial, chemical, and logistics businesses in South Africa, rest of Africa, the Americas, Europe, the Middle East, and Australasia.

Hudaco Industries

Market Cap: R5.6b

Imports and distributes automotive, industrial, and electrical consumable products in South Africa and internationally.

Mpact

Market Cap: R4.0b

Engages in the paper and plastic packaging, and recycling business in South Africa and internationally.

Invicta Holdings

Market Cap: R3.0b

An investment holding company, engages in the distribution of engineering components and consumables in South Africa, rest of Africa, Europe, Asia, and the United States.

Zeda

Market Cap: R1.9b

Provides mobility solutions in South Africa and other countries in Sub-Saharan Africa.

Metair Investments

Market Cap: R1.4b

Manufactures, assembles, supplies, and distributes motor vehicle components and energy storage solutions such as automotive and industrial batteries in South Africa, Romania, and the United Kingdom.

Hulamin

Market Cap: R660.9m

Engages in the manufacture and distribution of rolled and extruded aluminum products in South Africa, North America, Europe, Asia, the Middle East, Australasia, South America, and rest of Africa.

Calgro M3 Holdings

Market Cap: R494.7m

Together with its subsidiary, develops integrated residential properties in South Africa.