By Delisa Thwala
The Eswatini Stock Exchange (ESE) month-end report for June 2024 has revealed that they ushered in a notable increase in its market capitalization, rising from E6.73 billion in May 2024 to E6.90 billion in June 2024.
According to the report, this surge was primarily driven by a significant share price increase in the Royal Eswatini Sugar Corporation Limited (RES Corp), one of the major listed companies on the ESE.
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This substantial rise is attributed to both the appreciation of share prices across several companies and the recent listings of Nkonyeni Pre-cast Limited and First National Bank Eswatini.
“Nkonyeni Pre-Cast Limited gained 50% from its listing price of SZL1.00 in November 2023.
The other companies with capital gains yearly are RES at 11.84%, followed by Inala Capital at 7.14%,
Greystone Partners Limited at 6.25%, Nedbank at 3.45%, Swazi Empowerment Limited at 2.63% and Swaziland Property Investments Limited at 1.2%,” read part of the report.
It further mentions that RES Corporation, which constitutes 23.72% of the total market capitalization, played a pivotal role in this growth.
Despite the stable number of listed companies remaining at nine, the ESE continues to actively engage stakeholders to attract more listings, both domestic and foreign, and introduce new financial products.
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The report notes that the upward trend in market capitalization reflects the growing confidence of investors in the Eswatini stock market and the ESE’s ongoing efforts to enhance market functionality and transparency.
