Weekly African Footprint: August 17, 2012

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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.

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Botswana

•  De Beers moves diamond sorting to Gaborone
•  Higher mineral revenues slash 2011/12 deficit to BWP 2.2bn
•  Botswana inflation unchanged at 7.3 % y/y in July
•  Govt targets June 2013 for diamond auctions

Egypt

•  Centamin profit down, maintains production forecast
•  CIB says Q2 net income grows 18%
•  Orascom Telecom swings to quarterly profit
•  Bank Du Caire’s profits soar during first half of 2012
•  Profits Egyptian bank EFG-Hermes Q2 net profit down 66
•  Qatar deposits USD 2bn to support Egyptian economy
•  Egypt to sign USD 200m World Bank loan
•  Egypt expects Qatar deposit within a week: minister
•  Egypt may seek bigger, USD 4.8 bn loan from IMF

Ghana

•  Barclays and Access Bank post impressive half year results
•  CAL Bank Ghana rose to 17-month high on growth plan
•  Ghana 3-month borrowing costs rise at auction as bank mops cash
•  Ghana cedi firm on thin greenback demand
•  Black market operators take over forex exchange business in Kumasi
•  Bank of Ghana to issue another 5-year bond
•  Ghana's inflation pushed higher in July by weak cedi
•  Gold drives up Ghana minerals revenues in H1 2012

Kenya

•  CFC Stanbic Bank’s H1 profit jumps 37%
•  Court blocks Kenya Airways’ play to cut jobs
•  Standard Chartered picks advisory team for KES 3.2bn rights issue
•  Kenya's BOC Gases books 57% rise in profits
•  CFC Stanbic records 52.6% rise in profit
•  UBA Kenya seeks capital injection from Nigerian parent company
•  Tiger Brands eyes Kenyan acquisition
•  NMG eyes Sh75bn diaspora cash with NationHela launch
•  Bank of Africa half-year profits down 21pc on surge in interest costs
•  Banks race to raise KES 1bn core capital ahead of deadline
•  Tension after court stops Kenol layoffs
•  African Union ready to help Kenya buy voter kit
•  Huge bank profits fresh effort to curb the cost of loans
•  CMA approves Unaitas Sacco’s share offer
•  Kenyan shilling steady vs. dollar, cbank to support
•  KRA opposes removal of tax on food and farm inputs
•  CMA seeks power to monitor brokers with lavish lifestyles
•  Kenya’s first big mine to spur sector investments

Malawi

•  Malawi says will not halt oil search in disputed lake
• Britain gives Malawi USD 4.7m for food aid
•  Malawi, Tanzania plan talks on lake dispute amid oil search

Maurtius

•  NMH sees lower profit on falling tourist numbers
•  Omnicane swings to a pre-tax loss in H1, 2012
•  Mauritius reopens 5-year T-bond this month
•  Mauritius says tourists from France down 30% yoy in July

Morocco

•  Morocco budget deficit soars a year after wage hikes
•  Importers snub Moroccan tender for 300,000 T of EU soft wheat

Nigeria

•  Cement price: Dangote liberalises distributorship
•  UTC, Union Bank, others enhance market capitalisation by NGN 11bn
•  Fidelity Bank links rise in Opex to branch expansion
•  Investor sentiment on Union Bank stocks deepens
•  Lafarge Wapco reaps dividends of expansion
•  Mobil, fishermen report oil spill in Akwa Ibom
•  First Bank of Nigeria rises to one-year high on profit bets
•  Consolidated Breweries attributes drop in profit to high operational costs
•  Diesel price drops on back of improved power supply
•  CBN to issue N70.65bn in bonds
•  Nigeria revenue up 8 % in July on higher oil sales
•  Nigeria set to be included in JP Morgan government bond index
•  Exxon unit investigates oil spill near Nigeria facility
•  Retail investors say negligence cedes 40% equities free float to foreigners
•  Interbank rates fall back
•  Nigeria H1 car imports up 15%, credit recovers
•  Rescue bid for Naira triggers surge in lending rates
•  Nigerian naira hits 3-month high on dollar sales
•  Missing NGN 270bn PHCN pension traced to illegal entity
•  U.S. bank approves USD 1.5m for export financing to Nigeria
•  Capital market operators demand new board for SEC
•  Lagos hotels 2 nd most expensive globally – HRG
•  Fuel scarcity bites harder in Abuja
•  Nigeria inflation eases to 12.8%
•  FGN Bonds to be listed on JP Morgan’s Index

Tanzania

•  Petra Diamonds lowers full-year production target
•  Tanzania external debt hits USD 10bn
•  Bank attributes success to huge lending to SMEs

Zambia

•  State issues licence to Dangote USD 500m project
•  Zambia Sugar shareholders saddened by low dividend
•  Koreans, Aussies to construct USD 3.3bn new oil refinery in Zambia
•  Zambia records over USD 40m investment from Japan

Zimbabwe

•  Cottco to double cotton production
•  Barclays says 30% indigenous
•  Bindura extends USD 21m rights issue
•  CBZ Holdings to merge banking units
•  Blanket gold output up 26%
•  MBCA Bank nets USD 2m profit
•  Come clean, Murray & Roberts told
•  No takers for PG stake
•  MBCA to meet new RBZ threshold
•  Zisco takeover not collapsed: Ncube
•  RTG retrenches
•  BancABC Zim profits up
•  Econet Zimbabwe upgrades EcoCash
•  Weak demand hits Turnall profits
•  Zimbabwe, Australia renew economic ties
•  Securities Act amended
•  Government to float Lupane gas tender
•  Zimbabwe inflation slows to 3.94% y/y in July