MVIS GDP Africa Index

The MVIS GDP Africa Index (MVAFK) is designed to reflect the size of a country's economy instead of the size of its equity market. It defines country weightings based on a country's gross domestic product (GDP).The index also includes non-local companies incorporated outside of Africa that generate at least 50% of their revenues in Africa. MVAFK covers at least 90% of the investable universe.

Country Weightings

The white area of the table shows the number of companies incorporated in a certain country and the country's weight in the index.
Countries marked with (*) are the home of non-local companies. Non-local companies are companies, incorporated in these countries, that generate at least 50% of their revenues in the index target.

The number of non-local companies is declared in column «non-local». The count of components and weights in the grey area is achieved by reassigning the non-local companies to the country or region covered by the index.

CountryComponentsWeightNon-localComponentsWeight
Canada5 10.03%-1 3.77%
Germany (*)1 2.11%---
Norway (*)1 0.28%---
United Kingdom5 8.52%-1 1.82%
Burkina Faso--2 2 2.61%
China1 1.51%-1 1.51%
Egypt1 4.66%1 2 5.54%
Liberia1 0.40%-1 0.40%
Mauritius2 1.72%-2 1.72%
Morocco5 16.57%-5 16.57%
Nigeria4 15.12%1 5 17.23%
South Africa43 28.66%4 47 33.72%
Kenya3 9.55%-3 9.55%
Mali--2 2 2.55%
Zambia--1 1 3.02%
Jersey (*)1 0.88%---
Total73 100.00%11 73 100.00%

Sector Weightings

The weighting of a certain sector in an index is based on the weightings of the index components allocated to this sector. The table below displays the number of index components by sectors.
The columns coloured in grey represent hypothetical values assuming that the index would not include non-local companies.

SectorComponentsWeightComponentsWeightDifferenceDifference %
Energy1 0.20%1 0.24%0 -0.04%
Materials18 25.88%11 15.09%7 10.79%
Industrials1 0.43%1 0.52%0 -0.08%
Consumer Discretionary 8 8.55%7 7.69%1 0.86%
Consumer Staples11 8.27%11 9.88%0 -1.60%
Health Care4 1.18%3 1.17%1 0.02%
Financials20 34.65%19 40.89%1 -6.23%
Communication Services7 20.07%7 23.96%0 -3.89%
Utilities1 0.28%0 0.00%1 0.28%
Real Estate2 0.47%2 0.57%0 -0.09%
Total73 100.00%62 100.00%

Size Weightings

  • Large-Cap: companies with a market capitalisation above 6,000 mln USD
  • Mid-Cap: companies with a market capitalisation from 1,500 mln to 6,000 mln USD
  • Small-Cap: companies with a market capitalisation from 200 mln to 1,500 mln USD
  • Micro-Cap: companies with a market capitalisation up to 200 mln USD
SizeMarket CapComponentsWeight
Large-Cap447,666,568,400 USD29 63.74%
Mid-Cap116,571,660,800 USD37 31.08%
Small-Cap9,078,229,900 USD7 5.18%
Micro-Cap---
Total573,316,459,100 USD73 100.00%
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