Weekly African Footprint: Janury 31 , 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's Juhayna says to invest $58 mln in 2014
•  Egypt's Palm Hills posts 2013 profit of $34 mln
•  Egyptian bank says lining up first IPOs since Mubarak era
•  Saudi Arabia to give Egypt up to USD 4bn more aid
•  Egyptian benchmark index hit 3-year record high

Ghana

•  Govt confirms suspension of windfall tax
•  Bank of Ghana Plans Measure to Stabilize Cedi by End of February
•  Plans to demutualise GSE not abandoned

Kenya

•  KCB says South Sudan unit still profitable despite political chaos
•  NIC Bank puts on hold expansion outside E. Africa
•  Dubai investment bank eyes NSE seat after Jo’burg entry
•  Kenya sugar output seen up 17 pct in 2014 at 700,000
•  Kenyan president defends rail tender won by Chinese company
•  Kenyan shilling steady, tight liquidity to give a boost
•  Kenya delays new oil block licensing until new law in force
•  Kenyan shilling, stocks down in foreign investor sell-off
•  Kenyan inflation edges up to 7.21% in year to January

Malawi

•  Malawi ‘Cashgate’ trials begin

Nigeria

•  Dangote boosts Nigeria's rice self-sufficiency drive with NGN 50bn investment
•  FBN Holdings Unveils New Corporate Identity
•  Oando shares drop on latest money-raising plan
•  UBA commits USD 700m to power sector privatization
•  Oando to increase share capital to NGN 7.5bn for future growth
•  Trading in FG Bonds soars 1,081% as investors stake NGN 14bn
•  EU gives FG N4.2bn for investment climate reforms
•  Nigeria’s GDP to Grow by 7% in 2014
•  Nigeria Central Bank to Shift Reserves Into Yuan From Dollars
•  Naira remains stable amid strong dollar demand
•  Nigeria needs 5 years to achieve stable power supply
•  Nigeria’s 15m-ton annual steel production target doubtful

Zambia

•  Zambia should be competitive—EU
•  Zambia inflation inches up 7.3% y/y in January

Zimbabwe

•  PG Industries postpone scheme meeting
•  Innscor approves indigenization plan
•  EcoCash now processing $200m per month
•  Econet willing to deal with banks
•  Phoenix considers delisting
•  RioZim risks losing power producer license
•  Cairns investor ready to inject USD 30m
•  Chinese energy firm to invest USD 160m in Zimbabwe
•  Zimbabwe Industry engages EU
•  Little expected from Monetary Policy Statement
•  Zimbabwe postpones higher capital demands on banks by 6 years

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