South African Undervalued based on future growth

Harmony Gold Mining

Market Cap: R162.9b

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

Absa Group

Market Cap: R147.1b

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: R54.8b

Manufactures and supplies specialty and branded pharmaceutical products worldwide.

MultiChoice Group

Market Cap: R49.5b

Through its subsidiaries, operates video-entertainment subscriber platforms in South Africa, rest of Africa, Europe, and internationally.

Sappi

Market Cap: R19.4b

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

Netcare

Market Cap: R18.0b

An investment holding company, operates private hospitals in South Africa.

Motus Holdings

Market Cap: R17.5b

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

Datatec

Market Cap: R15.2b

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

Omnia Holdings

Market Cap: R12.7b

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.

Wilson Bayly Holmes-Ovcon

Market Cap: R10.1b

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

Sun International

Market Cap: R10.1b

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

Reunert

Market Cap: R9.1b

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.

Raubex Group

Market Cap: R8.6b

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

PPC

Market Cap: R8.5b

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

Oceana Group

Market Cap: R7.0b

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

Tharisa

Market Cap: R6.0b

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.

Hudaco Industries

Market Cap: R5.7b

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

KAP

Market Cap: R4.7b

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

Nampak

Market Cap: R4.3b

Engages in the manufacture and sale of packaging products in South Africa and rest of Africa.

Mpact

Market Cap: R4.0b

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

Invicta Holdings

Market Cap: R3.3b

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.

Combined Motor Holdings

Market Cap: R2.4b

An investment holding company, engages in the motor retail and distribution business in South Africa.

Zeda

Market Cap: R2.3b

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

Metair Investments

Market Cap: R1.6b

Manufactures, supplies, and distributes motor vehicle components and energy storage solutions in South Africa, Romania, and the United Kingdom.

Hulamin

Market Cap: R704.7m

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: R507.2m

Develops and manages integrated residential properties in South Africa.