Weekly African Footprint: August 31, 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

•  Mining sector contribution falls 30%

Egypt

•  Egypt's Orascom Development sees revenues up on tourism recovery
•  SocGen says in talks to sell Egyptian unit
•  Govt to stop subsidizing energy for cement factories
•  Yields on Egyptian 266-day T-bills climbs
•  Egypt's trade deficit rises for fifth consecutive month

Ghana

•  Tema Oil Refinery shut after breakdown
•  Newmont Gold pays USD 93,8m as royalties to government
•  Ghana plans 7-year bond auction this year
•  Export value and volume for yam increases

Kenya

•  EABL profit up but costs rise sharply
•  Equity’s investment arm records KES 17.2m after tax profit
•  Deacons issues profit warning as revenue dips
•  Sameer’s H1 profit jumps 62%
•  Kenya Airways set to sign Sh7bn loan deal with IFC
•  ABC Bank posts Sh163m after-tax profit as expenses rise
•  New business and rising markets boost Kenya's Pan Africa
•  Olympia to buy out minority shareholders in Botswana unit
•  Kenya Airways set to acquire more planes in expansion plan
•  CFC Insurance reports 23% profit drop
•  NIC Bank rights sell at Sh5.95 premium
•  CIC Insurance H1 profit down 17% on listing costs
•  Jubilee declares Shs318 dividends on positive results
•  Court lifts order barring Kenya Airways job cuts
•  Mumias Sugar full-year profit down a third
•  Brokers ponder court action over NSE ownership
•  Central Bank move boosts low inflation rate
•  Kenya tourist arrivals pick after months of downward trend
•  World Bank guarantees 4 Kenyan power projects for 285 MW

Malawi

•  Malawi inflation quickens in July, at 21.7% y/y

Maurtius

•  Mauritius trade deficit widens 17.9% in first half

Nigeria

•  Flour Mills acquire Thai farm
•  RT Briscore grows revenue by NGN 2.287bn in Q2
•  Shareholders to Ratify FBN’s holding company next month
•  Conoil targets NGN 33bn revenue on lubricants
•  Dangote seeks more indigenous real sector investors
•  Flour Mills OPEX rises by 20% on back of insecurity
•  Shareholders advise NSE against delisting firms
•  Flour Mills to invest USD 600m on Nigeria
•  Red Star Express posts N5.03bn turnover
•  GTB declares N7.4b first half dividend
•  Flour Mills to increase milling capacity
•  World Bank grants Nigeria USD 300m to fight unemployment
•  U.S. invests USD 2bn to boost agric, SMEs in Nigeria
•  South Africa eyes Nigeria’s petroleum infrastructure projects
•  CBN disburses N198.2bn under agric credit scheme
•  NSE to launch industrial goods index in 2014

Tanzania

•  Exim Bank forecasts bright prospects
•  Addax wins Tanzania's 350,000 tonnes gasoil tender
•  Dangote Cement to fill Tanzania’s deficit
•  Simba cement profit surges 56%
•  TBL pays shareholders 60bn/- in dividends
•  Tanzania top Africa mobile money user

Zambia

•  Puma wants shares
•  Mopani completes second convertor shell installation
•  Zambia is investment destination of choice – Stanchart
•  Zambia’s Aug inflation quickens, food prices up

Zimbabwe

•  Meikles revenue up 15%
•  BNC sets new output target
•  Zimplats expansion plans hit snag
•  Stanchart on course to meet RBZ requirements
•  Econet expanding capacity to 10m
•  Sky’s the limit for ZABG
•  Seed Co to cut production by 60%
•  Cambria exits Zimbabwe IT services
•  Inclusive govt short of cash for elections
•  FDI inflows remain low
•  Tobacco nets half billion dollars: TIMB
•  Govt mulls fund for bank debts
•  1.7m people require food aid - VP
•  Mining projects worth USD 190m approved
•  Trade development surcharge cripples industries
•  Economy needs overhaul
•  New bourse on the cards