Weekly African Footprint: January 27, 2012

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Botswana

•  Choppies shares offer 400% oversubscribed
•  BancABC in branch expansion drive
•  Mupane Gold taps into adjacent resources
•  Defy consolidates local foothold
•  World Bank projects 6.2% growth for Botswana

Egypt

•  Egypt cigarette-maker sees profits soar a third in last 6 months
•  Orascom Telecom Holding Rises a 2nd Day After Split
•  Choppies shares offer 400% oversubscribed
•  Egypt’s gross domestic debt climbs EGP 50bn in three months
•  Egypt says to seek extra USD 1bn to support budget

Ghana

•  Ghana's telecom bosses disagree over Glo
•  Korean Company seek investment in solar energy in Ghana
•  Merchant Bank, First Rand merger hits snag
•  PBC keeps profits buoyant
•  Shell Ghana to rebrand as VIVO Energy by March
•  Eaton Towers Signs USD 30m Debt Financing
•  Ghana's Fan Milk 12 mth profits down 2.7% by Dec
•  BoG releases additional USD 100m to shore up cedi
•  Ghana says about 23% of cocoa tree stocks unproductive
•  Ghana GDP growth falls to 12% y/y
•  Ghana producer price index falls to 15.19% in Dec.
•  Ghana gets USD 100m budgetary support from World Bank

Kenya

•  Hope for steady supply as firms win oil tenders
•  Coop Bank opens four new branches in growth drive
•  Kenya Airways passenger numbers up 15% in Q3
•  Africa Oil, Tullow begin drilling in northern Kenya
•  Kenya’s growth to fall behind other EA States in two years
•  Building of 280MW geothermal power plant begins in Olkaria
•  Kenya tea earnings rise in 2011 on high prices
•  Kenya tax revenues rise 9% y-o-y in Oct-Dec
•  Kenya January inflation dips as price pressures ease
•  Geothermal project to receive KES 10bn funding boost
•  Tea earnings up 12.4% despite poor weather

Mauritius

•  Mauritius finance minister sees slower 2012 GDP growth
•  IMF cuts forecast for 2012 Mauritius growth

Morocco

•  Morocco inflation 0.9% for full-year 2011

Namibia

•  Namibia conditionally approves possible acquisition of uranium developer Extract Resources by Chinese-owned entity

Nigeria

•  NNPC: refineries to operate 90% capacity in 2013
•  Union Bank Targets NGN 66.5bn Profit in 3 years
•  UBA Deploys 3,000 PoS in Lagos, Targets 30,000
•  FG, Shell Lost NGN 37bn to Closure of Bonga Oil Field
•  NLNG, ExxonMobil, NNPC seek USD 4bn loan for expansion
•  Nigerian unrest depresses PZ Cussons' profits
•  FMBN realises NGN 1.6bn as revenue in 2011
•  SEC approves extension of Union Bank’s Rights Issue
•  Engen acquires Chevron’s assets in Nigeria, Angola
•  Power Supply: NIPP upgrades PHCN facilities
•  2012: NSE anticipates marginal market recovery
•  Nigeria faces grave consequences, IMF warns
•  CBN: Credit to Private Sector Rises to NGN 12.213tn
•  16,000mw of electricity to gulp NGN 880.9bn by 2013 –FG
•  Nigerian rates may rise in 2012 if govt pursues budget expansion
•  Nigeria central bank-inflation will not force rate rise next wk
•  DMO raises NGN 89.76bn bond
•  Non-oil sectors to boost Nigeria’s growth in 2012

Zambia

•  Alberg to open zinc mine
•  Bharti Airtel launches 3.75G platform in Zambia
•  Zamtel operations grinding to a halt
•  Zambia says to take back Libya-owned Zamtel
•  Airtel projects 23%growth
•  Zambia Sugar outgrowers land ZMK 210bn
•  Zesco to boost Zambia's broadband
•  Airtel Zambia rolls out 3.75G data network
•  Zambia Jan CPI at 6.4 pct y/y, index rebased
•  Zambia's finmin says to rebase kwacha currency

Zimbabwe

•  West Group eyes debt-free Red Star
•  Allied Timbers turns to copper chromium arsenic
•  Meikles to open Pick n Pay stores
•  Kingdom seals deal with AfrAsia Bank
•  CFI courts partners
•  Liquid Telecom acquires Zimbabwean ISP, ZOL
•  New Dawn Mining in record gold sales
•  Blanket Mine output up 102%
•  Econet launch Voip service
•  RTGS woes expose RBZ
•  Dollar crunch forces Zimbabwe to draw down IMF cash
•  Zimbabwe mine licence fees set to soar - state media
•  Zim economy still on growth path: AfDB
•  Commission wants utility charges reduced