Weekly African Footprint: April 20, 2012

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Botswana

•  Botswana Metals unearths 15.5% copper and 1220g/t silver at new discovery in Botswana
•  Botswana inflation slows to 8.0% y/y in March
•  IMF forecasts lower growth for Botswana

Egypt

•  Egypt tourism down a third in first quarter of 2012
•  IMF's Lagarde: IMF loan for Egypt won't be enough
•  Egypt sees Saudi financial help by end April

Ghana

•  Fidelity Bank Lists on Stock Exchange
•  Bank of Ghana seeks to bolster cedi with rate hike
•  Ghana's external debt falls to USD 7.6bn
•  Ghana cocoa purchases down 3.5% so far
•  IFC, UT Bank sign USD 15m equity investment to support Ghanaian SMEs
•  Offshore pipelines for Ghana’s USD 1.2b gas plant ordered
•  Ghana seeks USD 6bn China loan drawdown for social projects

Kenya

•  Mumias board confirms new chief executive
•  African Queen Mines says core drilling starts at Odundu in Kenya
•  Kenya's Safaricom to lay fibre for "data tsunami"
•  Kenya's Standard Chartered plans cash call to expand
•  Kenya regulator raises fuel prices across the board
•  Kenya USD 600m loan to have 7% yield
•  Kenya's central bank says in market for USD 60m via repos
•  Kenya internet users nearly doubled in Q4 – CCK

Maurtius

•  Mauritius says needs USD 684m for roads by 2015
•  Fewer Europeans visit Mauritius in first quarter
•  Mauritius trade deficit widens 43.8% in Feb

Morocco

•  BPCE confirms to buy 5% stake in Morocco bank
•  Morocco picks EDF green arm for wind farm project
•  Morocco trade deficit up 13% yr/yr in Q1

Namibia

•  Namibia CPI slows to 6.9% in March

Nigeria

•  Sterling Bank Makes N45bn Gross Earnings
•  Nigeria Unity Bank '11 pre-tax profit drops 76.6%
•  Skye Bank’s 2011 pre-tax profit down by N6bn
•  GTBank Commences Operations in Cote D’Ivoire
•  Fidelity Bank increases turnover by 25%
•  Forte Oil projects strong profit for half year 2012
•  2011: Dangote sugar to pay NGN 3.6bn dividend
•  Nigeria faces big oil price risk – central bank chief
•  Insurers’ capital hits NGN 600b, says Daniel
•  Nigeria to earn NGN 9.7tn in 2012
•  Nigeria’s forex reserves up 3.65%, says CBN
•  Nigeria’s banking crisis over – AMCON
•  Nigeria fuel subsidy graft cost USD 6.8bn-parliament
•  Nigeria to raise NGN 90bn in bonds next week
•  Nigerian Stock Exchange Wants Oil Majors to List

Tanzania

•  Vodacom Tanzania cuts money transfer fee by 20%
•  African Barrick production falls 17%
•  Tanzania March inflation falls to 19% y/y

Zambia

•  China Nonferrous Metal eyes USD 500m HK IPO

Zimbabwe

•  Govt to float tender for Agribank partner
•  Essar to get mining rights
•  Murowa’s diamond output up 47%
•  Three more PnP stores for Zim
•  Delta lager volumes grow
•  New Dawn initiates diamond drilling exploration project
•  High royalties to impact minerals output
•  Budget deficit looms
•  Zimbabwe inflation slows to 4.0% y/y in March
•  Zimbabwe orders firms to resubmit exploration bids
•  Zimra beats revenue target
•  Zim GDP to grow by 4,7%: IMF