South African Undervalued based on future growth

Harmony Gold Mining

Market Cap: R209.8b

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

Absa Group

Market Cap: R198.5b

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

Sasol

Market Cap: R68.3b

Operates as a chemical and energy company.

Foschini Group

Market Cap: R27.2b

Operates retail stores in South Africa and internationally.

Barloworld

Market Cap: R22.1b

Operates as an industrial processing, distribution, and services company in Southern Africa, the United Kingdom, Australia, Russia, and Mongolia.

Motus Holdings

Market Cap: R21.5b

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

SPAR Group

Market Cap: R18.4b

Engages in the wholesale and distribution of goods and services to grocery stores and other group retail outlets in South Africa and internationally.

Omnia Holdings

Market Cap: R12.3b

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

Astral Foods

Market Cap: R10.3b

Operates as an integrated poultry producer in South Africa and internationally.

AECI

Market Cap: R9.4b

Provides products and services for mining, water treatment, plant and animal health, food and beverage, manufacturing, and general industrial sectors.

Wilson Bayly Holmes-Ovcon

Market Cap: R8.7b

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

PPC

Market Cap: R8.6b

Engages in the production and sale of cement, aggregates, ready mix concrete, and fly ash in South Africa, Botswana, and Zimbabwe.

Raubex Group

Market Cap: R8.0b

Engages in the infrastructure development and construction materials business in South Africa, Australia, rest of Africa, and internationally.

Tharisa

Market Cap: R7.9b

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

Altron

Market Cap: R7.6b

Engages in information communication and technology business in South Africa, rest of Africa, Europe, and internationally.

Oceana Group

Market Cap: R6.7b

Operates as a fishing and food processing company in South Africa, Namibia, rest of Africa, North America, Europe, the Far East, and internationally.

Super Group

Market Cap: R6.4b

Engages in the supply chain management, mobility, dealership, and fleet management activities in South Africa, sub-Saharan Africa, Europe, and the United Kingdom.

RFG Holdings

Market Cap: R6.0b

Manufactures and markets convenience meal solutions in South Africa, the Kingdom of Eswatini, and internationally.

Hudaco Industries

Market Cap: R5.8b

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

Mpact

Market Cap: R3.3b

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

Zeda

Market Cap: R2.6b

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

Calgro M3 Holdings

Market Cap: R449.1m

Develops and manages integrated residential properties in South Africa.