Weekly African Footprint: Janury 24 , 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

•  OTMT unit secures Telecom Egypt link for MENA cable network
•  Egypt’s wheat supply sufficient until first week of May—ministry
•  Egypt targets 4-4.5% growth next year: minister
•  Egypt expects 33 pct rise in foreign investment this fiscal year
•  Egypt tourism revenues down 41 pct in 2013 vs 2012
•  Egypt seen activating bond trading platform in Q2
•  Egypt's oil and gas production dips in November

Ghana

•  AngloGold Facing ‘Enormous’ Challenges in Ghana, Chairman Says
•  Ghana Cocoa Board Says 2013-14 Output to Beat Target on Weather
•  Ghana to produce 500,000 barrels of oil by 2024
•  Ghana to get new power plant
•  Ghana GDP growth falls to 0.3 pct y/y in Q3 2013

Kenya

•  Kenya Re touches one year high
•  Mumias seeks financier for Sh34bn Tana plant
•  Kenya remittances rise in Nov, set new record
•  Kenya remittances rise in Nov, set new record
•  Equity on verge of becoming a foreign lender
•  East African Breweries plans to raise $63 mln via commercial paper
•  EABL seeks Sh5.4 billion to ease overdraft loans burden
•  Tourism investors raise a red flag due to slow recovery
•  Foreign investors to own 100pc of local-listed firms

Nigeria

•  Ecobank under pressure over corporate governance
•  UBA Capital shares rise on new appointments
•  Africa’s Richest Man Dangote Considers Buying Nigeria Oil Fields
•  PZ Cussons posts 8 pct rise in first-half profit
•  GTBank tipped to remain most profitable bank
•  Dangote Cement plans expansion to South America
•  PZ Cussons Nigeria H1 pretax profit up 53 pct
•  SABMiller to Invest $110m in Nigeria for Brewery Expansion
•  Rising appetite for forex weakens naira
•  2014 budget targets N7.50 trillion revenue
•  AfDB Approves $187.3m for Power Sector Investment
•  Nigeria Bourse CEO Says Close to Hiring Advisers for Share Sale
•  Nigeria central bank acts to support naira, worried about govt spending
•  Nigerian Cement Industry Attracts Fresh $8bn Investment
•  CBN Raises Capital Base for Finance Houses to N100m in New Guidelines

Tanzania

•  African Barrick cuts costs, says not finished yet
•  Tanzania seeks shares in uranium, nickel mines

Zambia

•  BoZ calls for increase funding CSO
•  Zambia 2013 fiscal deficit at 6.7 percent
•  Zambia Said to Withhold Up to $500 Million of Mine Refunds

Zimbabwe

•  Econet offers banks poisoned deal
•  Delta results tell a story
•  Econet Wireless Global acquires Altron’s 8.6% in Liquid telecom
•  BAT divests Zimbabwe operations
•  Mwana says Freda gold output down 25pc
•  BAT says not exiting Zimbabwe
•  Star Africa gets $7m offer for Botswana unit
•  Zimbabwe Assessing Platinum Companies’ Proposals for Refineries
•  200m kg of tobacco expected
•  Masiyiwa’s bid to swap cash for digital money
•  African Development Bank gives Zimbabwe $53 mln power grant
•  Government to cap bank shareholding