In recent years, Africa has emerged as one of the most enticing developing countries. Nigeria came in #1 with $442.98 billion in GDP, followed by Egypt with $361.88 billion and South Africa with $282.59 billion. Because of the continent’s enormous resources, it became a hub of commerce and commercial activity. With over 30% of the world’s mineral resources, Africa is the fastest-growing region for foreign direct investment. With a share price of $17.31, Sibanye Stillwater Limited is one of the top African stocks to invest in. In the last year, the company’s stock price has increased by 75%. The technology sector in Africa is growing at the same rate as the mining sector. Africa will have 643 technology clusters by 2020, with Nigeria, Egypt, Kenya, and South Africa hosting the most. In 2025, the internet economy on the continent is anticipated to be worth $180 billion.
Insider Monkey analyzes the best African stocks to invest in. Mix Telematics Limited is a software-based fleet management service provider based in South Africa. Canaccord Genuity kept its Buy recommendation on the stock. DRDGOLD Limited is number nine on the list of the top ten African stocks to buy. The gold miner, situated in South Africa, was formed in 1895 and has a market capitalization of $938 million. DRD’s stock has increased by 10% in the last three months. Harmony Gold Mining Company stock has up 2% in the previous five days. With a market capitalization of $2.46 billion, the gold mining firm is one of the largest in South Africa. The stock is presently trading at $3.91 and has a P/E of 10.16. AngloGold Ashanti Limited is ranked number seven on the list of the top ten African stocks to buy. The company’s product sales revenue in the first quarter of 2021 were $979 million, up from $905 million in the same quarter of 2020. Gold Fields Limited is ranked sixth among the top ten African stocks to buy. The company’s current market capitalization is $8.4 billion. GFI’s stock has increased by 2% in the last five days. For more details, click 10 Best African Stocks to Invest In.
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