Best-performing South African tech shares in 2021
MTN’s share price increased by 69% in the first six months of 2021, making it the best performing IT and telecoms share on the JSE.
South African technology companies had a good start to the year, with most of their share prices experiencing strong growth.
Two telecommunications companies — MTN and Telkom — lead the pack with 69% and 50% share price increases, respectively.
Alviva, one of Africa’s largest providers of information and communication technology products and services, was the top-performing IT company with a share price growth of 48%.
To put this performance in perspective, the JSE All Share Index increased by 9.54% over the last six months.
The JSE All Share index consists of the largest 164 listed companies and is almost 100% of the market cap and liquidity of the exchange. It, therefore, gives an overview of the performance of the JSE.
Prominent South African technology shares had an average increase of 22% – far outperforming the market.
This was expected. The Covid-19 pandemic and lockdown increased the reliance on technology for work and entertainment, which benefitted technology companies.
Telecommunications companies, like MTN, Telkom, and Vodacom, saw a spike in demand for broadband access. This translated into strong revenue growth.
Best performing ICT companies in South Africa
The table below summarises the best performing IT and telecommunications companies listed in the Johannesburg Stock Exchange (JSE) in the first six months of the year.
|JSE Listed Tech Company Share Growth|
|JSE All Share Index||9.54%|