South African Undervalued based on future growth

FirstRand

Market Cap: R483.9b

Provides transactional, lending, investment, and insurance products and services in South Africa, rest of Africa, the United Kingdom, and internationally.

MTN Group

Market Cap: R360.6b

Provides mobile telecommunications services in South Africa, Nigeria, South and East Africa, West and Central Africa, and the Middle East and North Africa.

Impala Platinum Holdings

Market Cap: R220.5b

Engages in the mining, concentrating, refining, and sells of platinum group metals (PGMs) and associated base metals in South Africa, Zimbabwe, and Canada.

Absa Group

Market Cap: R199.2b

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

Sanlam

Market Cap: R191.4b

Provides various financial services in South Africa, Pan-Africa, Asia, and internationally.

Harmony Gold Mining

Market Cap: R172.6b

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

Northam Platinum Holdings

Market Cap: R137.3b

Through its subsidiary, Northam Platinum Limited, engages in the production and sale of platinum group metals.

Nedbank Group

Market Cap: R125.1b

Provides various wholesale and retail banking services in South Africa, rest of Africa, Europe, Asia, the United States, and internationally.

Foschini Group

Market Cap: R22.5b

Operates retail stores in South Africa and internationally.

Motus Holdings

Market Cap: R20.4b

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

AECI

Market Cap: R12.1b

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

SPAR Group

Market Cap: R12.0b

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

Astral Foods

Market Cap: R9.9b

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

Raubex Group

Market Cap: R9.3b

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

Tharisa

Market Cap: R7.7b

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.

Super Group

Market Cap: R5.8b

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

Hudaco Industries

Market Cap: R5.4b

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

Mpact

Market Cap: R3.2b

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

Cashbuild

Market Cap: R2.7b

Engages in the retailing of building materials and associated products in South Africa, Botswana, Eswatini, Lesotho, Namibia, Zambia, and Malawi.

Libstar Holdings

Market Cap: R2.5b

Manufactures, distributes, and markets branded and private label consumer packaged goods in South Africa and internationally.

Zeda

Market Cap: R2.5b

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

Calgro M3 Holdings

Market Cap: R423.7m

Develops and manages integrated residential properties in South Africa.