For African businesses, one of the biggest stock exchanges to get listed on is the Zimbabwe Stock Exchange, which registered a more than $170 billion Q3 market turnover this year, representing a nearly 30% increase from the previous quarter. While many African businesses are listed on the Zimbabwe Exchange, including Ariston Holdings Limited, Benso Oil Palm Plantation Limited, and BAT Zimbabwe Limited, we can also see multiple African businesses trading on popular international exchanges, including the New York Stock Exchange.
Which African Businesses Are Trading on the New York Stock Exchange?
1) Mix Telematics Limited
Mix Telematics Limited is a South African fleet management service provider founded in 1955. Based in Stellenbosch, the company provides enterprise and small fleets with solutions for improving safety and increasing efficiency. Mix Telematics began trading on the New York Stock Exchange (NYSE) under the MIXT stock ticker in August 2013. For perspective, the New York Stock Exchange is one of the biggest stock exchanges in the world, and many of its listed stocks, as well as stocks from the Nasdaq, are included on the famous S&P 500 index. While companies outside of America are not part of this index, many international investors look to actively trade these index funds with tools like the ES1 futures contract. Trading with futures contracts allows for effective hedging strategies, access to leverage, and the ability to short-sell if an opportunity presents itself.
2) DRDGOLD Limited
DRDGOLD Limited is another South African business listed on the NYSE, which operates in the commodities market. Specifically, DRDGOLD is a gold producer that also specialises in metal recovery from surface tailings retreatment. DRDGOLD is headquartered in Roodepoort and is also listed on the Johannesburg Stock Exchange. Unfortunately for the South African gold producer, it has had a weak quarter performance on the NYSE, with the share price dropping around 20%. With that said, on October 16th, 2023, the stock’s share price jumped around 200%, making it a stock to watch in terms of volatility as we move into the last few months of the year.
3) AngloGold Ashanti Limited
Joining DRDGOLD Limited on the NYSE is gold mining company AngloGold Ashanti Limited. Based in South Africa, AngloGold was founded in 2004 following the merger of Ashanti Goldfields Corporation and AngloGold. The company began trading on the NYSE in September 2023 under the stock ticker AU. To date, the company has a robust global presence and has generated an extensive portfolio of projects, operations, and exploration activities.
4) Gold Fields Limited
Lastly, Gold Fields Limited, a gold mining firm based in Johannesburg, is also listed on the NYSE. Gold Fields Limited is considered one of the world’s largest gold mining firms, and in May 2022, the firm acquired Canadian mining company Yamana Gold. However, the deal fell through and was terminated in November 2022, with Gold Fields obtaining a $300 million break fee. The company continues to search for ways to build a portfolio of acquisitions to encourage future growth trends. There are nearly 30 stock exchanges in Africa. While many successful businesses are trading on them, such as Ariston Holdings, African stocks are also on international stock exchanges like the New York Stock Exchange. In fact, given that AngloGold became listed this year in September, it reassures African businesses that there is space for them on these popular international exchanges.