Weekly African Footprint: August 24, 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

•  Diamond aggregation ahead of schedule
•  Botswana Telecommunications Corporation privatisation in two years
•  BSE switches to electronic trading

Egypt

•  Egypt not looking to devalue pound as it seeks loan
•  Egypt central bank to offer first-ever euro-denominated T-bills
•  Egypt and the IMF: Major step but investors may want more
•  Egypt struggles to buy fuel as credit dries up

Ghana

•  FirstRand of South Africa takes over Merchant Bank
•  Government spending weakens Cedi

Kenya

•  Nation Media signs programmes deal with BBC
•  Kakuzi completes sale of tea unit to outgrower firm
•  Tullow to drill third oil well in September
•  Top shareholder takes up 60% of CfC rights issue
•  East African Breweries posts 24% jump in FY profit
•  East African Breweries sees more earnings growth
•  Kenyan bank NIC looks to buy smaller rivals
•  Foreign investors offload KES 1.8bn T-bills
•  Workers to get unemployment benefits with rise in NSSF fees
•  Ministries return to Treasury KES 275bn allocated in Budget
•  Kenyan shilling steady, sees support from bond flows
•  Treasury rejects brokers’ bid to dilute stake in Nairobi bourse
•  Investment income lifts Jubilee’s profit by 17%
•  Kenyan shilling pulls back versus dollar, seen steady

Malawi

•  Malawi banks on history
•  Germany beefs up aid to Malawi
•  China to build USD 500m, 1,000 MW plant in Malawi

Maurtius

•  Mauritius June trade deficit widens 20.7% year on year

Morocco

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

Nigeria

•  Shoprite to spend USD 205m on Nigerian real estate
•  Mobil begin oil spill cleanup in Ibeno
•  FCMB-FinBank integration delay is costing NGN 1.5bn quarterly
•  Lafarge Wapco reaps dividends of expansion
•  CDMA merger deserves more capital investment
•  Bridge banks’ have broken even to declare profit soon
•  Nestle Nigeria’s Share Price Hits Historic NGN 511.03
•  Shareholders okay Geo-Fluids re-structuring plan, listing on NSE
•  Nigeria goes into investment collaborations with Congo
•  Interbank rates fall on budget allocations
•  Nigeria’s non-oil export reaches NGN 17.5bn in 2011
•  Fuel shortages as Nigeria union plans subsidy strike
•  Nigeria’s Inflation Rate May Miss Forecast High, Sanusi Says
•  Nigeria oil exports for October rise towards 2m bpd
•  NSE releases updated filing calendar for quoted companies

Tanzania

•  Swissport profit jumps, dividends up
•  CTanzania coffee prices fall as supply rises
•  China seeks to venture into gold mining in Tanzania

Zambia

•  Zanaco reduces rates under new campaign
•  IMF commends BoZ
•  Zambia's economic growth seen steady, construction helps
•  State negotiates USD 500m bond

Zimbabwe

•  Delta hits back at wholesalers, retailers
•  RioZim to settle USD6.6m outstanding Centamentall debt
•  Afre records USD 7.1m profit
•  ZABG narrows loss
•  Zimplats may delay USD 460m expansion project
•  Zimplats profits plunge
•  First Mutual Limited spreads its wings
•  Zimbabwe's telecom Econet reconnects NetOne
•  Bankers Association of Zimbabwe defends high rates
•  Zim records USD 343m investment proposals
•  Securities regulations tightened
•  Zimbabwe diamonds projected to hit 14m carats