Weekly African Footprint: February 17, 2012

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Botswana

•  DiamondCorp ceases exploration at Botswana kimberlite project
•  AFR uncovers 15,000t of coal for export trials
•  Botswana's central bank leaves bank rate steady at 9.5%
•  Botswana Jan inflation slows to 8.8% y/y

Egypt

•  Egypt's OTMT to pay dividend from Mobinil proceeds
•  Egypt's Lecico posts Q4 loss after one-off provision
•  Egypt's NSGB net income up 11% in 2011 – bourse
•  Egypt's state companies face liquidity constraints
•  France Telecom Egypt Venture Buyout to Cost USD 2bn
•  Egypt Nov mobile phone subscriptions up 22%
•  Egypt looking for USD 11bn
•  Egypt GDP grows 1.9% in 10/11, 2.4% growth predicted for 11/12
•  Egypt prepares to sell USD 2bn Islamic bonds
•  World Bank OKs USD 240m loan for Egypt power plant

Ghana

•  Vodafone Ghana records 31.5% growth in service revenue
•  CAL Bank Posts GHS 24.44m Pre-tax Profit
•  Guinness Ghana swings to profit in H2 2011
•  Parliament Debates USD 850m Cash For Gas Project
•  Ghana seeks USD 741.2m investment to develop five airports
•  Ghana’s non-traditional exports has prospects – Agric Minister
•  Ghana central bank hikes rates, cites euro zone
•  Ghana inflation rose to 8.7% in Jan -stats office
•  Ghana earned over USD 400m from oil export last year- President Mills
•  Ghana's total debt stock up 34% in 2011

Kenya

•  Deacons to quit Dar market after five-year losses
•  Mumias Sugar set to lose KES 400m as ethanol plant delays
•  Kenya Power raises fuel cost charge as water levels fall
•  Barclays Kenya's underlying profit up 11% in 2011
•  Williamson Tea postpones dividend pay
•  Kenya's EABL H1 pretax profit and revenues rise
•  Kenya Power sinks KES 1bn into new power lines, sub-stations
•  Kenya seeks private help for infrastructure spending gap
•  Kenya 2011 tourism revenues up 32%, sees tough 2012
•  Kenya seeking nearly 408,000 T oil products for March/April
•  Inflation projected to peak at 12%

Malawi

•  Aid freeze leaves Malawi with USD 121m budget hole

Mauritius

•  Mauritius' Rogers Q1 profit up 12.7%
•  Air Mauritius swings to 9-month loss, issues warning
•  State Bank of Mauritius H1 pretax rises 17%
•  Mauritius Commercial Bank H1 pretax profit up 2%
•  Mauritius January tourist arrivals down 3% yr/yr

Morocco

•  Suez Moroccan subsidiary ordered to pay USD 64m
•  Moroccan bank Attijari's net profit up 12%
•  Morocco hints may go for international bond
•  Morocco 2011 current account deficit 6.5% of GDP
•  Morocco economy likely grew 5% in 2011 -fin min
•  EU parliament approves Morocco agriculture trade deal

Namibia

•  Namibia January CPI slows to 6.6% y/y

Nigeria

•  Augusto & Co reaffirms Flour Mill’s NGN 37.5bn unsecured bond
•  Ecobank, Oceanic Bank merges operations
•  H1: Guinness Nigeria Declares NGN 7.14bn Profit
•  NSE Lists N4.6bn Tower Aluminium Bond
•  AMCON starts selling three nationalised banks this month
•  UNIC Insurance to raise NGN 2bn from capital market
•  Nigeria's Flour Mills raises NGN 35bn in rights issue
•  Nigeria power rates to rise up to 88%
•  Nigeria to stop importation of cement, fertilizer, rice soon- FG
•  Nigeria’s 2011-12 Cocoa Output Could Fall by 20%, Olam Says
•  China Nigeria: Infrastructure Tops Agenda as Trade Hits USD 10 bn
•  CBN auctions USD 250m foreign exchange yesterday
•  Revenue agency collected NGN 4.62trn in 2011
•  Nigeria’s offshore investment to hit NGN 54tn –Minister
•  Fertiliser firm to invest USD 100m in Nigeria
•  Nigeria's forex reserves hit 6-month high
•  FG pledges to encourage investors in power sector
•  Govt cuts NGN 100bn from 2012 budget
•  Nigeria deficit widens in amended 2012 budget plan
•  Law on Listing of Telcos, Oil Firms out in 2012

Tanzania

•  Statoil finds natural gas offshore Tanzania
•  Tanzania to launch credit reference databank in Sept
•  Tanzania inflation drops, energy costs still a concern

Zambia

•  Zambia 2011 copper output eclipses 2010
•  Zambia, Zimbabwe sign USD 4bn 1,650 mega watts Batoka power project deal
•  Zambia invites tenders for 2-year oil supply deal
•  Solid demand seen for Zambia bonds

Zimbabwe

•  Zesa to install smart meters
•  NSSA takes over RMB
•  Wrangle over BP/Masawara deal
•  Econet dispose Afre stake
•  ZSE firms face delisting
•  Meikles in bid to reduce debt
•  Afdis on recovery path
•  ZABG strikes capital deal
•  CFI expansion drive ‘in full swing
•  Govt blocks Econet
•  Zimplats spends USD 89m on Ngezi
•  Zim to award power generation tenders
•  Zimbabwe's Jan inflation slows to 4.3% y/y
•  Zimbabwe tobacco output seen up, but shy of target
•  Zimbabwe caps local banks' offshore funds due to dollar crunch