Weekly African Footprint: August 16 , 2013

Below is a headline summary of our Weekly African Footprint. Please click here for more detailed reports. It includes the following:

Quick summary table displaying the performance of all the African Stock Exchanges and African currencies on a WTD and YTD basis. Summaries of the keys markets and relevant economic and corporate news.

Do not hesitate to contact us should you require further information.

Egypt

•  Telcom Egypt says Q2 net profit climbs 45.5%
•  GB Auto profits nearly wiped out by political, economic crisis
•  Some Egypt businesses thrive in crush of economic downturn
•  Egypt stock exchange, banks not to open on Thursday
•  Oil climbs over $111 as Egypt unrest stokes supply fears

Ghana

•  SIC posts good performance
•  Govt spends 70% of revenue on wage bill in six months
•  Ghana may return to foreign bond market in 2013
•  Ghana Inflation Rate Rises to 11.8% in July as Cedi Weakened
•  Bank of Ghana sets minimum capital requirement for new banks
•  Ghana’s textile industry under threat of collapse

Kenya

•  Kenya Airways CEO says losses from airport fire USD 4m so far
•  Diamond Trust Bank posts 22% rise in first-half profit
•  TPS Eastern Africa says optimistic about full year
•  Kenya Power Reverses Increase in Electricity Connection Charges
•  Airtel cuts its cost for calls down to KES 2
•  Banks seek to cut bad loans through aggressive recovery plan
•  Flat Kenyan shilling seen supported by rising debt yields
•  Kenyan shilling steady, central bank action eyed
•  Kenyans to buy insurance through scratch cards
•  Kenya fuel prices rise across the board on dearer imports
•  Kenya recruits Chinese expertise for mineral resources survey
•  Kenyan shilling steady, seen weaker in days ahead
•  Survey to take stock of Kenya’s minerals
•  Kenya suspends issuance of sugar import licenses
•  Kenyan shilling firms slightly, Egypt unrest may hurt tea exports

Mauritius

•  Land sale helps Mauritius sugar producer Omnicane cut losses

Nigeria

•  Dangote eyes more jobs via petro-agric business
•  Oando Repositions Fuel Retailing, Builds More Mega Stations
•  Dangote to raise sugar capacity to 2.75m tones by 2017
•  FCMB divests from City Securities Registrars
•  Redstar express declares NGN 182m dividend
•  UACN: heading for another profitable year
•  FirstBank raises $300m capital from international markets
•  Zenith Bank H1 pretax profit up 7% y/y
•  Nigeria’s 2012 petroleum exports valued at N15.1 trillion
•  Nigerian naira eases on dollar demand, lending rates fall
•  Nigeria, Japan move to deepen trade ties
•  Nigeria’s new GDP methodology underway
•  Analysts predict 8.7% inflation
•  Foreign airlines to remit NGN 200bn from Nigeria in 2013

Tanzania

•  Precision Air’s Sh51bn bailout appeal to State
•  Tanga Cement breaks ground for Kiln No. 2 expansion
•  CRDB now offers long-term mortgage loans
•  Tanzania may sell USD700m Eurobond next year

Zambia

•  Zambia Sugar nets USD 71.5m from EU
•  Zambia sees GDP growth falling short of 7% target
•  Zambia, China seal USD 785m deal
•  Kwacha in marginal appreciation
•  Zambia in growth drive
•  Luse performance suffers gloomy global economy
•  Zambia’s economic outlook positive
•  Kwacha in upward trend

Zimbabwe

•  CBZ Holdings after-tax profit narrows
•  MMCZ seeks partners for gem polishing
•  Russian firms target Darwendale platinum
•  Retail banking drives ABC profit
•  Willdale Limited, seeks USD 8m capital injection
•  BNC capital hunt on course
•  CTC approves Aon deal
•  ZSE foreign purchases decrease in July
•  Govt to expand export market