Weekly African Footprint: July 12 , 2013

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 financial position may be even worse than previously estimated
•  Forex reserves fall by USD 1.12bn in June
•  Egypt bank governor says staying in position
•  UAE agrees to give Egypt USD 3bn in loans and grant
•  Egypt's interim cabinet to be formed next week
•  Egypt's consumer inflation rises to 9.8 pct in June
•  Kuwait promises Egypt $4 billion in aid - state news agency
•  Gulf billions buy Egypt economy breathing space
•  Egypt has less than two months imported wheat left: ex-minister

Ghana

•  Ghana inflation hits three-year high in June, seen easing

Kenya

•  AccessKenya directors approve Sh3bn takeover
•  ARM Cement H1 profits up 28%, buoyed by higher sales
•  ARM Gains Most in 4 Months as Sales Seen Doubling
•  Co-op Bank ready to open South Sudan subsidiary
•  Banks’ overnight loans in steep fall as liquidity eases
•  Kenya tea prices rise even while Egyptian buyers absent
•  IMF says Kenya debt sustainable ahead of $1 bln Eurobond

Nigeria

•  13 Nigerian banks in Top 1000 Global Ranking
•  Oando to Build N16bn IPPs for Lagos, Abuja Airports
•  GTB Directors meet to consider interim dividend
•  Sterling Bank’s NGN 12.5bn Rights Issue
•  Path to industrial development in Nigeria, others by Dangote
•  Compliance: NSE Gives Dangote Cement, Forte Oil Pass Mark
•  FBN, Chinese Bank Seal $100m SME Facility Deal
•  Shell Nigeria again shuts Trans Niger pipeline
•  Nigeria to re-start Nitel sale via "guided liquidation"
•  China's Sinosteel in talks to acquire Nigerian steel mill
•  Cost of funds drop on cash inflow
•  NSE Warns New Brokers against Sharp Practices

Tanzania

•  Cement Output Set to Hit Seven Million Tonnes

Zambia

•  Zambeef share price in marginal drop

Zimbabwe

•  • Mwana mulls equity financing for BNC
•  • Pelhams Limited says sales down 50 percent
•  • PowerTel secures USD 100m vendor financing
•  • Telecel licence expires
•  • RTG to run Beitbridge Hotel
•  • Government consults on new minerals policy
•  • BAZ banks on RBZ
•  • Zim gets more time to raise ATI funds
•  • Gold deliveries up
•  • CSD to run from September
•  • Biti postpones mid-term policy review