Weekly African Footprint: April 27, 2012

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Botswana

•  BPC faces serious financial risk
•  Botswana to benefit from De Beers move

Egypt

•  Egypt's Beltone eyes 45% boost to investments
•  Qatari group stake in EFG-Hermes still under discussion
•  Egypt's Orascom Construction inks USD 363m power deal with Iraq
•  Egypt cancels gas deal with Israel
•  Egypt finance minister says will get IMF funds from May
•  Egypt to offer EGP 3bn pounds in reopened bonds
•  Egypt parliament rejects economy plan, hampers IMF loan path

Ghana

•  Ghana's Fan Milk says Q1 profit up 26%
•  Total Ghana First-Quarter Profit Rises 48% on Higher Prices
•  StanChart bonus share offer scheduled for last quarter of 2012
•  Newmont Mining profit rises on higher gold prices
•  Ghana Tema oil refinery to restart on Monday
•  Ghana expects to make USD 1bn revenue from gas yearly
•  Deposits, recapitalization raise Ghana banking sector assets to GHS 22.4bn
•  Ghana eyes Cameroon timber to feed excess sawmills
•  Gold, cocoa, oil exports earn Ghana USD 3.8bn in 2012 – Bank of Ghana
•  Ghana’s Gross International Reserves Decline To USD 4.6bn
•  Ghana’s producer price inflation increases to 16.3% in March 2012

Kenya

•  Kenya Reinsurance 2011 pretax profit up 23%
•  Sameer Africa earnings grow 139%
•  African Queen Mines extends exploration license at Odundu by two years
•  NIC Bank Q1 pretax profit up 29%
•  Kenya's Equity Bank profit up 29% in Q1
•  Kenya Commercial Bank Q1 pretax profit up 35%
•  Low demand for KQ rights issue by retail investors
•  Kenyan remittances jump 71% in Feb-Central Bank
•  Treasury closer to securing KES 50bn syndicated loan

Malawi

•  Malawi CPI quickens to 11.4% y/y in March
•  African bank chief says ready to commit USD 45m to Malawi

Morocco

•  Morocco's inflation eases again in March

Namibia

•  Paladin raises USD 266m in convertible bond issue
•  Namibia central bank leaves rates steady, euro zone weighs

Nigeria

•  Cement manufacturers seek import ban before FG’s August deadline
•  Nigerian Breweries to sustain dominance in market with focus on low cost beer
•  Shell looks at USD 4bn in possible projects in Nigeria
•  UBA wants partnership with Dangote
•  Q1: GTBank Records N19bn Profit
•  Nigeria's UBA may merge Zambian unit with rivals
•  Australian Mines finalises acquisition of Nigeria Gold
•  Globacom introduces new roaming service
•  NEM Insurance to pay investors NGN 0.05 per share
•  Nigeria Skye Bank raises USD 100m in bonds
•  Nigeria's Skye Bank to boost ROE to 15% in 2012
•  CBN: FG Generated NGN 1.008tn in January
•  Fed Govt plans gas supply for 2,000mw more
•  Subsidy: CBN pays NGN 90.5bn to oil marketers in 25 days
•  Jonathan targets 40bn barrels of crude reserve, 4m barrels daily production
•  NSE commends 13 companies for good corporate governance
•  Nigeria bourse buys Nasdaq platform, live in 2013
•  Power Sector Funding: LSE to Support Nigerian Firms
•  Rebase to boost Nigeria's economy 40% source
•  Nigeria inflation rises on higher food costs
•  Credit to Private Sector Now NGN 14.207tn
•  Nigeria sells NGN 90bn in bonds

Zambia

•  Glencore restarts output at shut Zambia plant
•  Zambia short-lists 11 banks for Eurobond role
•  Zambia's kwacha seen firm despite slowing China growth
•  Zambia April CPI quickens slightly to 6.5% y/y

Zimbabwe

•  DHL revenues up 19%
•  M&R takeover almost complete
•  Mwana shareholders approve share sale
•  Reprieve for non-compliant ZSE firms
•  Old Mutual to up stake in Rio Zim
•  DZHL disposes Charhons
•  Unki drives Amplats production
•  Econet’s profits rise to USD 166m
•  Afre to attract unbanked sector
•  Olam’s Cottco plans put on hold
•  Nssa ‘demands’ more from companies
•  Interfin courts new investors
•  Natfoods reopens stock feeds plant
•  BNC mulls rights issue to restart Trojan min
•  Tobacco sales hit USD 236m
•  IDBZ disburse USD 70m