Dashboard: 28 February 2022

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South African Markets (ZAR)

Latest value Last mo. 3 mos. 1 yr 3 yrs ann. 5 yrs ann.
JSE ALL SHARE  76 090,51  2,4%  8,0%  15,0%  10,8%  8,3%
JSE Volatility Index (% increase)  19,09  -9,7%  -0,8%  9,7%  5,3%  1,2%
ALBI  834,21  0,5%  4,1%  9,0%  8,7%  8,9%
Repo Rate (% increase)  4,00%  0,0%  6,7%  14,3%  -16,0%  -10,6%

South African Market Cumulative Performance

South African Yield Curve

Offshore Markets*

Latest value Last mo. 3 mos. 1 year 3 yrs ann. 5 yrs ann.
FTSE All World Index  460,19  -2,7%  -3,7%  6,2%  11,5%  9,4%
FTSE Emerging Market Index  593,44  -3,0%  -2,0%  -9,7%  4,5%  4,6%
All Share Index (Kenya)  160,25  -1,9%  -2,2%  -3,1%  1,7%  5,1%
All Share Index (Zambia)  6 473,63  7,0%  20,1%  62,5%  3,2%  9,0%
All Share Index (Nigeria)  47 394,53  1,7%  9,6%  19,1%  14,3%  13,4%
All Share Index (Mauritius)  2 159,49  1,1%  7,4%  35,1%  -0,7%  2,3%
Composite Index (Ghana)  2 696,79  -2,5%  -5,9%  22,7%  3,4%  7,8%

Inflation***

Latest value Last mo. 3 mos. 1 year 3 yrs ann. 5 yrs ann.
CPI (ZAR)  176,05  0,2%  0,8%  5,0%  4,2%  4,1%
CPI (Kenya)  119,13  0,4%  1,6%  5,1%  6,0%  5,3%
CPI (Zambia)  350,90  1,7%  5,0%  14,2%  16,7%  12,7%
CPI (Nigeria)  417,58  1,5%  3,3%  13,8%  14,4%  13,8%
CPI (Mauritius)  114,92  1,4%  1,6%  6,5%  3,3%  3,2%
CPI (Ghana)  139,75  2,1%  3,4%  13,1%  9,8%  9,9%

Currencies (ZAR)

Latest value Last mo. 3 mos. 1 year 3 yrs ann. 5 yrs ann.
GBP  20,62  -0,4%  -2,5%  -2,1%  3,3%  4,8%
USD  15,36  -0,1%  -3,2%  1,8%  2,9%  3,2%
EUR  17,27  -0,2%  -4,1%  -5,4%  2,5%  4,4%
MUR  0,35  0,3%  -3,3%  -6,8%  -5,0%  -0,9%
KES  0,14  -0,4%  -4,4%  -1,8%  -1,4%  1,1%
ZMW  0,87  1,4%  -3,2%  24,7%  -9,6%  -9,0%
GHS  2,31  -8,4%  -12,3%  -12,3%  -3,4%  -3,8%
NGN  0,04  -0,2%  -4,6%  -6,8%  -7,0%  -3,0%

African Stock Exchanges’ Cum. Performance

Rand Exchange Rate

* Indices are all reflected in their respective local currencies. FTSE Indices are quoted in USD. Data Source: Thomson Reuters
*** CPI is lagged by one month

Commentary

The JSE ended the month positively with a real return of 2.2% in local currency terms. The returns on other African markets considered were mixed – with the Zambian market having a strong showing, whilst the Mauritian markets remained relatively flat in real local currency terms. The Ghanian and Kenyan markets (as well as the Nigerian market to a lesser extent) posted.

South African equities have outperformed bonds, generating excess returns of 1.86% over the past month and 6.03% over the past 12 months. Over the longer term (5 5-years) however, the bond and equity market returns are relatively on par.

Inflation rates continued their upward trend for all countries considered.

The Rand strengthened against all currencies considered over the past month, except for the Zambian Kwacha. The Rand saw a considerable increase relative to the Ghanaian Cedi, following a downgrade to Ghana’s credit rating in early 2022.

Contact us

Craig Falconer
CEO
T +27 11 038 3705
Kirchual Sauls
Actuarial Manager
T +27 11 038 3711
Legal Disclaimer: This document is intended for general information purposes only and should not be construed as advice or opinions on any specific facts or circumstances. The comments in this summary are based upon QED Actuaries & Consultants’ preliminary analysis of publicly available information. The content of this document is made available on an “as is” basis, without warranty of any kind. QED Actuaries & Consultants disclaims any legal liability to any person or organization for loss or damage caused by or resulting from any reliance placed on this content. QED Actuaries & Consultants reserves all rights to the content of this document.
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