South African Low Leverage High Rewards

Omnia Holdings

Market Cap: R11.7b

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.

Sanlam

Market Cap: R183.9b

Provides various financial solutions to individual, business, and institutional clients in South Africa, rest of Africa, Asia, and internationally.

AVI

Market Cap: R31.3b

Manufactures, processes, markets, and distributes branded consumer products in the food, beverage, footwear, apparel, and cosmetics sectors in South Africa, other African countries, Europe, and internationally.

Santam

Market Cap: R47.1b

Provides various general insurance products for individuals and businesses in South Africa, rest of Africa, Southeast Asia, India, the Middle East, and internationally.

Clicks Group

Market Cap: R89.3b

Operates as a health, wellness, and beauty retailer in South Africa and internationally.

Truworths International

Market Cap: R24.5b

An investment holding and management company, engages in the retail of fashion apparel and accessories.

Cashbuild

Market Cap: R3.2b

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

PSG Financial Services

Market Cap: R28.6b

Provides various financial services and products in South Africa and Namibia.

FirstRand

Market Cap: R437.4b

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

Deneb Investments

Market Cap: R994.2m

An investment company, distributes branded products in South Africa and internationally.

Mr Price Group

Market Cap: R54.2b

Provides fashion-value merchandise in South Africa and internationally.

Spur

Market Cap: R2.7b

Operates as a restaurant franchisor in South Africa and internationally.

Raubex Group

Market Cap: R8.3b

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

JSE

Market Cap: R11.0b

Operates as a multi-asset class stock exchange in South Africa.

Mahube Infrastructure

Market Cap: R198.5m

GAIA Infrastructure Capital Limited is a blank check company.

Wilson Bayly Holmes-Ovcon

Market Cap: R9.0b

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

ARB Holdings

Market Cap: R2.0b

ARB Holdings Limited, an investment and property holding company, engages in the trading and distribution of electrical, lighting, and related products.

RCL Foods

Market Cap: R8.7b

Operates as a food manufacturer in South Africa.

Bowler Metcalf

Market Cap: R953.7m

Manufactures and sells rigid plastic packaging for the toiletry, cosmetic, household, pharmaceutical, and food markets in South Africa.

Argent Industrial

Market Cap: R1.5b

Manufactures and trades in steel and steel-related products in South Africa, Asia, the Middle East, Australia, New Zealand, North America, South America, rest of Africa, the United Kingdom, rest of Europe, and internationally.

RFG Holdings

Market Cap: R4.0b

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

Transpaco

Market Cap: R995.0m

Engages in the manufacturing, recycling, and distribution of paper and plastic products in South Africa.

Italtile

Market Cap: R11.5b

Manufactures, retails, and franchises tiles, bathroom ware, and related home-finishing products in South Africa, rest of Africa, and Australia.

Nictus

Market Cap: R104.2m

An investment holding company, operates as a retailer of household furniture, electrical appliances, and home electronics under the Nictus brand in South Africa.

Adcorp Holdings

Market Cap: R700.1m

Provides workforce solutions in South Africa and Australia.

Altron

Market Cap: R7.9b

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

Standard Bank Group

Market Cap: R405.4b

Provides financial products and services in South Africa and internationally.

Clientèle

Market Cap: R5.9b

Through its subsidiaries, provides financial products and services in South Africa.

Primeserv Group

Market Cap: R174.6m

An investment holding company, provides integrated business support services in South Africa.

Hudaco Industries

Market Cap: R5.0b

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

Afine Investments

Market Cap: R351.8m

Operates as an investment property holding company.

Nu-World Holdings

Market Cap: R614.4m

Manufactures, imports, distributes, and exports various consumer electronics, electrical appliances, and consumer durables in South Africa, Brazil, Hong Kong, Australia, and the United Arab Emirates.