South African Undervalued based on future growth

Harmony Gold Mining

Market Cap: R177.1b

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

Absa Group

Market Cap: R163.1b

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

Pepkor Holdings

Market Cap: R97.0b

Operates as a retailer focusing on discount, value, and specialized goods in Angola, Botswana, Brazil, Eswatini, Lesotho, Mozambique, Malawi, Namibia, South Africa, and Zambia.

Sasol

Market Cap: R72.0b

Operates as a chemical and energy company.

Foschini Group

Market Cap: R27.4b

Operates retail stores in South Africa and internationally.

Motus Holdings

Market Cap: R19.8b

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

Netcare

Market Cap: R17.7b

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

Sappi

Market Cap: R13.6b

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

Omnia Holdings

Market Cap: R11.9b

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.

AECI

Market Cap: R9.3b

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

Reunert

Market Cap: R9.0b

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.

Astral Foods

Market Cap: R8.5b

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

PPC

Market Cap: R8.1b

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

Wilson Bayly Holmes-Ovcon

Market Cap: R7.5b

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

Raubex Group

Market Cap: R7.2b

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

Altron

Market Cap: R6.9b

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

Oceana Group

Market Cap: R6.4b

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: R6.4b

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 Arab Emirates, an internationally.

Super Group

Market Cap: R5.7b

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: R5.3b

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

Nampak

Market Cap: R4.1b

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

Mpact

Market Cap: R3.3b

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

Zeda

Market Cap: R2.3b

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

Calgro M3 Holdings

Market Cap: R487.7m

Develops and manages integrated residential properties in South Africa.