S&P Africa 40 Index

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The S&P Africa 40 Index (ISIN XY0102216550 ) is an equity index that tracks the 40 largest and most liquid listed companies in Africa. The index was launched on April 7, 2008 by the index provider Standard & Poor’s .

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Country breakdown of the S&P Africa 40
S&P Africa 40 sector breakdown

When selecting the index companies, all African countries are taken into account. Stock companies from Morocco, Nigeria, Kenya, Tunisia, Ghana, Egypt and South Africa are included in the calculation with their quotations on the respective country stock exchanges. Companies from other countries on the African continent are included in the index via their foreign stocks. The reason for this can be seen in the very different stages of development of the securities markets in Africa.

For inclusion in the S&P Africa 40 Index, additional requirements must be met. For example, all company shares must have stock market turnover of at least one million US dollars within the last three months and at the same time have a market capitalization of one billion US dollars. This regulation is intended to ensure continuous tradability. In addition, there are restrictions that counteract the dominance of individual countries or companies. On the one hand, the country weight in the index is limited to 30 percent; on the other hand, a company may make up a maximum index share of eight percent. The composition of the index is reviewed and adjusted every six months.

In this form, the S&P Africa 40 Index is the first index for the entire African continent and is therefore comparable to a DJ STOXX 50 or DJ EURO STOXX 50 for Europe. The 40 stocks included currently have a market capitalization of just over $ 200 billion. The TOP 3 countries are currently South Africa (30.75%), Egypt (19.50%) and Morocco (19.42%). The TOP 3 industries include financial services (36%), raw materials (28%) and telecommunications (17%). The information relates to April 2008.

Associated companies

No. Companies country weighting
1 MTN Group Ltd South Africa 7.30%
2 Orascom Construction Industries Egypt 6.27%
3 Implats South Africa 5.27%
4th First Quantum Minerals Zambia 5.13%
5 Sasol South Africa 5.13%
6th Orascom Telecom Egypt 4.59%
7th BMCE Morocco 4.44%
8th ATW Morocco 3.91%
9 Randgold Resources Ltd Mali 3.77%
10 Intercontinental Bank Plc Nigeria 3.55%
11 Efg-Hermes Holding Co Egypt 3.54%
12 Standard Bank Group South Africa 3.39%
13 Commercial Intl. Bank Egypt 3.27%
14th Maroc Telecom Morocco 3.19%
15th Equinox Minerals Ltd Zambia 2.56%
16 Remgro Ltd South Africa 2.53%
17th Douja Prom Addoha Morocco 2.38%
18th Iamgold Corp. Mali 2.36%
19th FirstRand South Africa 2.19%
20th Amplat South Africa 2.14%
21st ONA Morocco 2.09%
22nd Naspers-N South Africa 1.94%
23 Red Back Mining Inc Ghana 1.34%
24 Orascom Hotels and Development Egypt 1.33%
25th Egypt Telecom Egypt 1.31%
26th Access Bank Nigeria 1.23%
27 Zenith International Bank Nigeria 1.20%
28 Campagnie Generale Morocco 1.17%
29 Guaranty Trust Bank Nigeria 1.12%
30th Afribank Nigeria 1.12%
31 Ecobank Transnational Nigeria 1.12%
32 Mobinil Egypt 1.08%
33 Union Bank Nigeria 1.06%
34 United Bank Nigeria 1.03%
35 Anvil Mining Ltd DR Congo 0.97%
36 Golden Star Resources Ghana 0.94%
37 Suez Cement Egypt 0.90%
38 Central African Exploration & Mining Plc DR Congo 0.86%
39 Katanga Mining Ltd DR Congo 0.77%
40 Sonasid Morocco 0.53%

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