Weekly African Footprint: August 29, 2014

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

•  Egypt Suez Canal revenue at $482.2 mln in July
•  New airport city to create 120,000 jobs, at LE80 billion cost
•  Egypt stocks rally as market picks up on Thursday
•  Egypt's finance ministry aims to reform $4 bn in special funds

Ghana

•  Ghana H1 2014 budget deficit at 4.2 pct of GDP vs 4.1 pct forecast
•  Ghanaian, Chinese businesses to boost trade
•  World Bank promises support for PPP initiative
•  Ghana July producer price inflation at 47.4 pct yr/yr
•  Government justifies establishment of national airline

Kenya

•  HF sells Britam stake amid acquisition talks
•  Kenya's Standard Group profit down 8 pct in the first half
•  Kenya Re eyes new deals after ATI stake acquisition
•  Jubilee Holdings profit rises 35pc on high premiums
•  Nakumatt set to open new store in Bamburi
•  Kenyan grower Kakuzi half-year profit slumps 32 pct
•  Nairobi Securities Exchange's first-half profit falls
•  Kenya Airways welcomes VAT reprieve
•  National Bank profit up 17pc as loan book doubles
•  Kenya's debut Eurobond pushes debt to 57 pct of GDP

Nigeria

•  Diamond Bank Boss Under Pressure to Join Guber Race
•  GTBank to Pay N7.357bn Interim Dividend
•  Flour Mills Promises Consistent Growth, Profitability
•  Nigeria's Access Bank sees 20 pct loan growth in 2014
•  Oil producer Afren's first-half output hit by slowdown in Nigeria
•  Bears Sustain Grip as Index Drops By 0.25%
•  Stanbic IBTC Asset Floats N1bn Exchange Traded Fund
•  Nigerian interbank rates fall on budget inflows, OMO maturities
•  Business Summit to Boost Job Creation, Made-in-Nigeria Products
•  Rebasing: Nigerian Economy Now Worth N81tn
•  Stock Market Rebounds as Index Rises by 0.58%
•  Nigeria to Booost Economy with Knowledge from Rebasing

Tanzania

•  Interest rates show general declining trend
•  High gas-flow tests boost BG's Tanzania LNG plans

Zambia

•  Zanaco Invests $1M In New Loan Scheme
•  Zambia says to waive VAT rule on mining firms, refund $600 mln
•  IMF Says Zambia Plan to Slow Spending Pace Will Support Economy
•  Intrepid Mines launches bid for Blackthorn, eyes Zambia copper
•  Zambia's headline inflation flat at 8 pct y/y in August

Zimbabwe

•  NicozDiamond taps into foreign markets
•  Telecoms tariffs outdated: POTRAZ
•  RioZim revenue drops 31pc
•  Masimbas revenue slows down
•  FBC Bank Limited receive $60 million loan
•  FBCH/Turnall marriage ends
•  High demand for Zim agric products
•  Zimbabwe Creates Company to Buy Non-Performing Debt From Banks
•  Investment in Zimbabwe plunges as Mugabe seeks Chinese lifeline
•  ZSE goes electronic
•  RBZ eyes IDBZ, SEDCO supervision
•  Non-performing loans rise 18,5pc
•  Zimbabwe Says Three Foreign Banks Comply With Indigenization Law
•  Banks non-performing loans headache

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