Markets and Commodity figures

21 March 2017
Price Price MKT Cap Shares in
Company Ticker Sector Country US$ Change* US$Mn P/E Issue Mn

SAB Miller SAB SJ Beverages South Africa 62.01 3.5% 99 882.41 34.8 1 610.6
Anglo American AGL SJ Mining South Africa 15.89 13.2% 20 314.75 -9.5 1 278.5
Sasol SOL SJ Oil & gas South Africa 28.86 4.7% 18 796.06 8.8 651.4
MTN Group MTN SJ Telecommunications South Africa 10.05 8.5% 18 054.89 17.2 1 797.2
Standard Bank SBK SJ Banking & finance South Africa 12.52 6.1% 19 988.38 11.5 1 596.6
Anglo Platinum AMS SJ Mining South Africa 23.73 11.9% 6 367.33 126.8 268.3
ANGLOGOLD ASHANTI LTD ANG SJ Mining South Africa 10.88 11.4% 4 441.42 -91.4 408.2
Tullow Oil plc TLW GN Oil & gas Ghana 4.64 0.5% 4 231.21 381.7 911.4
Maroc Telecom IAM MC Telecommunications Morocco 14.10 -1.0% 12 391.01 20.2 879.1
DANGOTE CEMENT PLC DANG NL Building Materials Nigeria 0.53 3.3% 9 052.06 14.6 17 040.5
Orascom Construction OCIC EY Construction Egypt 12.00 -2.6% 2 483.64 74.0 206.9
Attijariwafa Bank ATW MC Banking & finance Morocco 42.71 0.9% 8 693.19 16.7 203.5
Nigerian Breweries NB NL Breweries Nigeria 0.98 0.2% 7 385.83 28.4 7 562.6
Banque Marocaine du Commerce BCE MC Banking & finance Morocco 20.60 4.6% 3 697.41 16.7 179.5
Telecom Egypt ETEL EY Telecommunications Egypt 0.63 -5.2% 1 076.93 8.5 1 707.1
VODAFONE EGYPT VODE EY Telecommunications Egypt 3.85 -2.6% 924.21 6.9 240.0
BANQUE CENTRALE POPULAIRE BCP MC Banks Morocco 27.54 2.5% 4 006.41 18.9 182.3
Lafarge LAC MC Building materials Morocco 243.21 -3.4% 4 248.68 24.6 17.5
Douja Prom Addoha ADH MC Real Estate Morocco 4.90 0.6% 1 581.95 16.1 322.6
Sonatel Sn SNTS BC Telecommunications Brvm 41.29 2.5% 4 129.22 13.5 100.0
Guaranty Trust Bank GUARANTY NL Banking & finance Nigeria 0.08 7.6% 2 476.97 6.2 29 431.2
Zenith Bank ZENITH NL Banking & finance Nigeria 0.05 -4.2% 1 419.65 3.9 31 396.5
CGI CGI MC Real Estate Morocco 42.50 1.0% 782.28 14.4 18.4
Guinness Nigeria PLC GUINNES NL Beverages Nigeria 0.21 1.0% 320.46 -19.9 1 505.9
Commercial International Bank CIB EY Banks Egypt 4.33 -0.2% 4 993.63 15.2 1 153.9
First Bank FIRSTBAN NL Banks Nigeria 0.01 5.2% 360.68 2.6 35 895.0
Abu Kir Fertilizers ABUK EY Chemicals Egypt 7.35 1.5% 618.70 7.0 84.1
East African Breweries EABL KN Breweries Kenya 2.16 2.0% 1 705.98 22.8 790.8
Safaricom Ltd SAFCOM KN Telecommunications Kenya 0.18 5.8% 7 117.02 16.1 40 065.4
Mauritius Comm. Bank MCB MP Banking & finance Mauritius 6.30 0.0% 1 499.95 7.5 238.2
Mobinil EMOB EY Telecommunications Egypt 4.70 -2.1% 470.08 - 100.0
T M G HOLDING TMGH EY Real Estate Egypt 0.49 5.1% 1 011.39 23.1 2 063.6
Poulina Group Holding PGH TU Holding Companies-Divers Tunisia 3.16 0.7% 568.80 14.9 180.0
Ecobank Transnational Inc ETIT BC Banks Brvm 0.04 1.7% 575.07 2.4 15 952.7
STANBIC IBTC BANK PLC IBTCCB NL Banks Nigeria 0.06 1.4% 592.01 8.5 10 000.0
State Bank Mauritius SBM MP Banking & finance Mauritius 0.03 0.0% 962.45 11.2 31 000.0
Barclays Bank Kenya BCBL KN Banking & finance Kenya 0.09 -3.7% 470.32 6.6 5 431.5
Banque De Tunisie BT TU Banking & finance Tunisia 3.58 1.2% 537.64 13.7 150.0
Equity Bank Limited EQBNK KN Banking & finance Kenya 0.28 6.1% 1 073.67 6.6 3 773.7
Kenya Comm. Bank Ltd KNCB KN Banking & finance Kenya 0.30 1.3% 910.27 4.8 3 066.1

Africa investor Ai40 Weekly Commentary 20 March 2017

As at Fridays close last week, mining shares which had dragged the Ai40 Investors Index downward over the past two weeks,
found some redemption as the Three Anglos were the top performers on the Index. South African equities took up four of the
five spots on the Top Gainers list. The Index rose by an impressive 2.51 points; a gain of 2.7% from last weeks value of 91.82. The
Index closed Friday at a value of 94.33.
On the global front, equity markets were hovering around record highs on Friday following an eventful week where the US Fed
and China both raised rates; signalling growing confidence in a stronger global economy. Investors also anticipated the
G20 meeting of finance and economic ministers in Germany over the weekend, where a key issue on watch was the USs stance
on trade. With two extra rate hikes expected this year in the US, government bonds and the dollar edged lower while stock
markets posted a mixed performance on Friday as financial and health equities negatively impacted markets according to CNBC.
Oil prices moved to close the week higher following a period where the commodity had touched lows last seen in November. On
Friday, U.S.-traded crude oil traded at $49.04 a barrel.
At Fridays close, the Dow Jones Industrial Average was in negative territory and lost 0.10%, or 19.93 points, to close at a value of
Friday, U.S.-traded crude oil traded at $49.04 a barrel.
At Fridays close, the Dow Jones Industrial Average was in negative territory and lost 0.10%, or 19.93 points, to close at a value of
20,914.62. The Nasdaq Composite Index closed flat and ended the session at 5,901.00. The S&P 500 was down 0.13%, or 3.13
points, to close Friday on a value of 2,378.25. In Europe, France's CAC 40 lost 0.1% to 5,007.66, while Germany's DAX gained 1.1%
to 12,028.09. Britain's FTSE 100 was up 1.05% to 7,418.84.

Gainers
As mentioned above, South African stocks dominated the Top Gainers list last week; and the Three Anglos stole the show
exhibiting some notable gains considering these equities were all on the Losers List last week. Shares for Anglo American topped
the list with a positive weekly price change of 13.2%. Anglo Platinum and AngloGold Ashanti also came in with hefty gains of
11.9% and 11.4% respectively. News broke last week that Indian billionaire Anil Agarwal would take on a 12% stake (valued at $2.5
billion) in Anglo American, sparking speculation of new M&A activity in the mining sector.

Johannesburg-listed MTN Group gained 8.5% as the new CEO, Rob Shuter took the helm last Monday. In Nigeria, Guaranty Trust
Bank was up 7.6%.

Losers
On the other end of the spectrum, Telecom Egypt was down 5.2% as the state-owned landline company reported an 11% drop in
2016 net profits according to Reuters. Lagos-listed Zenith Bank posted a 4.2% drop over the week, despite ending its 2016
operations with the strongest growth in revenue and profit in four years according to The Cable in Nigeria. Stocks for Barclays
Bank Kenya were trading 3.7% lower at Fridays close and shares for building materials firm Lafarge, were down 3.4%.
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