Ah, but it operates predominantly in Namibia, so you have to discount its cash flows at Namibia's discount rate (which is higher than SA's).. Means, smaller present value. Means, smaller implied PE. Careful.
I was looking at future prospects interestingly they have entered into an agreement with Shoprite to provide free life cover insurance to regular Shoprite customers, this evedintly is a pilot project in Nambia and could be rolled out into the rest of Africa including SA. What's your take on that?
Let's look at there results for 2012 and 2013 first before we start dreaming of fast cars and big houses, won't we ? I know of zero Namibian companies making it big in SA and Africa. Let's just wait and see if this is an exception to the rule.