5 African Companies To Invest In Now

3. Nedbank Group Limited (OTC:NDBKY)

Number of Hedge Fund Holders: N/A

Nedbank Group Limited (OTC:NDBKY) operates as a financial services company in South Africa and provides various wholesale and retail banking services all around the world. The leading South African bank offers personal banking solutions, business banking solutions, corporate banking services, and transactional banking services. With interest rates on the rise, banking stocks are expected to soar, making Nedbank Group Limited (OTC:NDBKY) a compelling investment option for investors looking to invest in developing markets such as Africa.

Nedbank Group Limited (OTC:NDBKY) is attracting bullish ratings from expert analysts. This May, Citi analyst Simon Nellis upgraded Nedbank Group Limited (OTC:NDBKY) to Buy from Neutral and reiterated a ZAR 250 price target on the shares. Moreover, the company appears to be undervalued, having a trailing-twelve-month PE ratio of 10.38 as of June 5, and trading at $12.14 with a market capitalization of $7.29 billion.