Weekly African Footprint: July 04 , 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 EGAS expects delay in gas import terminal
• Egypt's Sisi approves revised budget with deficit at 10 pct of GDP
• Egypt extends purchases to buy 4 mln t local wheat -MENA
• Egypt eyes up to 5.8 pct growth, 10 pct budget gap in 3 years
• Egypt to raise energy prices within days
• Egypt finalising unified telecoms licence after missing launch date
• Egypt business activity expands in June, PMI hits 6-month high
• Egypt raises electricity prices: minister

Ghana

• Stanbic Bank Ghana Launch Diaspora Mortgage in London
• Ghana Stock Exchange holds 24th AGM
• Glo introduces Medicare for Subscribers
• Subah, SA firm eye $40m foreign call data contract
• Cocoa industry to get $26 million boost
• Ghana’s Biggest Fund Shuns Stocks to Boost Debt Holdings

Kenya

• Equity keeps rivals guessing as it exits Housing Finance
• Mumias Sugar puts top staff on notice over illegal imports
• ARM Cement completes takeover of Kigali firm after 65pc stake buyout
• Dangote signals shake-up with new cement plant plans
• Kenya Tea Board turns focus on value-addition amid low prices
• Kenya inflation edges up to 7.39 pct in year to June
• Kenya seeks investors for two geothermal power plants
• Kenya's GDP growth slows to 4.1 percent in first quarter
• CBK now admits losing Sh105m in bond trading fraud
• Kenyan bourse says to sell 31 pct of its shares in IPO
• America overtakes China in race for Kenyan imports

Mauritius

• Mauritius central bank, finance ministry to agree inflation target - PM
• Mauritius cuts 2014 growth forecast to 3.5 pct: statistics office

 Nigeria

• UACN, Ashaka Cement join indices as NSE review indicators
• Seplat profits surge 404 percent in 2013
• Nigeria's SevenUp Bottling Co reports 133 pct rise in profit
• Skye Bank, Wema Bank exit NSE’s market indices
• Diamond Bank Supports Nigeria Immigration Service
• Oando targets July to seal up ConocoPhillips’ assets acquisition
• U.S. investor seeks to stop sale of Nigerian bank Mainstreet
• Nigeria's Unity Bank reports H1 profit up 81 pct
• FBN Insurance to Launch Takeover Bid for Oasis
• Nigeria plans $100-$300 mln diaspora bond by end-2014
• Bank Credit: CBN Bars Loan Defaulters of over N500m
• Nigeria, Portugal to Strengthen Trade Ties

Tanzania

• Sido, ITC to launch packaging centre in Dar in September
• Tanzania top foreign direct investment destination in EAC

Zambia

• Mopani’s $323m shaft ‘done’

Zimbabwe

• Seed Co equity capital to slush funding costs
• FLAZ expects full subscription of bond by month end
• Equity investment losses weigh down ZBFH
• Cottco records 67% nose-dive in revenue
• Hwange eyes profitability by year-end
• Telecel seeks $200m to pump up subscriber base
• FBC eyes 5pc annual growth
• Meikles posts $37m profit
• Zimre forecasts $150m turnover
• ESSAR begins operations at Zisco
• Meikles awaits mining venture approval
• Zimbabwe Tobacco Farmers Lift Sales to Highest

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