Weekly African Footprint: July 19 , 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

•  New Egypt minister says no need for IMF aid now
•  High-powered Egypt economic team heartens investors
•  Egypt finance minister says IMF loan is "part of the solution"
•  Proposed U.S House bill keeps Egypt military aid, amid steep cuts
•  UAE transferred USD 3bn in aid to Egypt, Saudi to follow shortly

Kenya

•  BATK HI pretax profit up 11% on higher sales
•  NSSF fails to meet KES 8.5bn target
•  Home Afrika Doubles as First Stock Listed on Kenya Growth Market
•  VAT Bill as it is will ground us, says KQ
•  Uhuru deal paves way for KQ to launch Abuja flights
•  Kenya raises price of petrol, diesel at the pump
•  Kenyan shilling flat but vulnerable as traders look to central bank
•  Kenya Income May Rise 22 Percent This Year on Better Collection
•  Kenya to focus on new VAT law to grow revenue in 2013/14
•  State takes over management of coffee auction for 3 months
•  Kenyan shilling weakens as importers buy dollars

Malawi

•  Malawi's consumer inflation slows to 27.9 percent y/y in June

Nigeria

•  Shell Nigeria again shuts Trans Niger pipeline
•  Fidelity Bank invests NGN 17bn in transport sector
•  GTB share price rises by 2.83% on interim dividend announcement
•  AfDB approves $150m facility for Fidelity Bank
•  Nigerian lawmakers want Shell, Eni Oil block award revoked
•  Unilever unit says H1 profit up 4%
•  GTB to acquire 70% stake in Kenyan bank
•  FG secures USD 25bn investment deals during Chinese visit
•  Nigerian Economy to remain vulnerable to crude oil prices
•  Nigeria's Elumelu seeking 2 oil blocks for power plants
•  World Bank faults FG’s management of oil reserves
•  Nigeria records $7bn FDI, says minister
•  Nigeria consumer inflation falls to 5-year low in June
•  Inflation drops to 8.4% amid higher food prices
•  Nigerian banks focused on growing locally
•  Kenyan President seeks UBA’s partnership on development
•  Nigeria plans 114 bln naira T-bill sale on July 25
•  Budget 2013: House makes u-turn, reconsiders amendment bill

Zambia

•  Zambia May End Halt at First Quantum Mine Project, Minister Says
•  ZAMEFA proposes to consolidate share capital
•  Vedanta’s Zambian Unit Plans Coal Power Plant to Reduce Costs
•  Zambia to Build $410 Million Oil Refinery to Lower Costs
•  Kwacha breaks ZMK 5.50 level

Zimbabwe

•  Zimplow offloads Puzey & Payne
•  Bindura seeks short-term finance
•  African Consolidated Resources seeks USD 16m
•  ZSE delists Cairns, Apex
•  Zimplow on course for USD 100m turnover
•  Olam to sell Zimbabwe assets
•  Aico to offload Seedco stake
•  Telecel acts on shareholding
•  Zimbabwe platinum output to rise
•  ZSE bullish ahead of polls
•  ASX automation by next year •  ASE listed firm moves into Zimbabwe gold sector
•  Capital key to tobacco sector upward trend
•  CZI forecast slump in capacity utilization
•  Zim interest rates to rise