South African Potentially Undervalued Small Caps

Sephaku Holdings

Market Cap: R460.6m

Operates as a construction materials company in South Africa.

African Media Entertainment

Market Cap: R277.9m

Engages in radio broadcasting, media integration, and publications activities in South Africa.

Delta Property Fund

Market Cap: R250.0m

A South African domiciled Level 1 B-BBEE Real Estate Investment Trust (REIT).

York Timber Holdings

Market Cap: R882.3m

An investment holding company, engages in the forestry, sawmilling, plywood, wholesale, and farming businesses in South Africa and internationally.

Labat Africa

Market Cap: R25.0m

An investment holding company, engages in the technology, logistics, and healthcare activities in South Africa.

Salungano Group

Market Cap: R352.5m

Engages in mining, processing, selling, and distributing thermal coal in South Africa.

Metair Investments

Market Cap: R974.8m

Manufactures, distributes, and retails automotive components, batteries, and related products in South Africa and Romania.

Aveng

Market Cap: R589.6m

Engages in construction, engineering, building, and contract mining activities in South Africa, Australia, New Zealand and Pacific Islands, Southeast Asia, and internationally.

ISA Holdings

Market Cap: R326.0m

An investment holding company, provides network, internet, and information security solutions to the sub-Saharan Africa market.

Afine Investments

Market Cap: R319.2m

Operates as an investment property holding company.

Adcorp Holdings

Market Cap: R702.3m

Provides workforce solutions in South Africa and Australia.