Weekly African Footprint: June 01, 2012

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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.

Botswana

•  Diamond financiers follow DeBeers to Botswana
•  Wilderness invests BWP 102m to secure earnings
•  Retail property sector over subscribed
•  Industrial imports widen March trade deficit

Egypt

•  France Telecom acquires 94% of Egypt's Mobinil
•  Egypt's OCI says to get USD 605m from Gavilon sale
•  Egypt's EFG Hermes receives buy-out approach
•  Egypt's Sewedy Q1 net profit drops 43.8%
•  Egypt central bank lowers reserve requirement on deposits
•  Egypt consumer confidence falls 4.4% in April
•  Inflationary pressures grow as Egypt's end-April M2 money supply climbs

Ghana

•  TOR targets listing on Ghana Stock Exchange
•  Debt-ridden Ghana oil refinery secures bailout
•  Ghana's GCB says Q1 net profit up 18%
•  Finance Minister projects cedi stabilisation by end of June
•  IMF urges Ghana to tackle inflation, fuel subsidies
•  Ghana, China bilateral trade reaches USD 3.47bn in 2011

Kenya

•  Co-op Bank in talks with IFC for KES 5.5bn credit line
•  Africa Oil Corp. provides Ngamia-1 well update
•  Govt set for clash with French firm over Portland
•  Kenya's Longhorn shares debut higher at KES 20
•  Nakumatt, Uchumi differ on policy proposals
•  KQ seeks more time for talks on rights issue
•  Family Bank shareholders approve rights issue
•  Advertising spend attracts new entrant
•  Banking posts 20% asset growth last year
•  Kenya inflation slows to 12.2% in May

Maurtius

•  Mauritius Telecom 2011 profit up, no word on listing

Nigeria

•  Lafarge WAPCO Plans Bag Manufacturing Firm
•  T.Y Danjuma Pays May & Baker's NGN 1.3bn Debt
•  PIC, South African Firm Invests USD 250m in Ecobank
•  Investors Optimistic as NAHCO Inaugurates USD 25m Warehouse
•  Forte Oil Records NGN 396m Profit in Q1
•  StanChart seeks strong business link with Nigeria
•  Nigeria telcos meet regulator over fines - Etisalat CEO
•  Power: FG, Daewoo Corporation to Sign Multi-Billion Dollar Deal
•  BAT defends right to business
•  FirstBank shareholders approve NGN 0.80 dividend, holding company
•  Nigerian interbank rates tumble 4 percentage points
•  Draft of Nigeria oil bill being finalised
•  Non-Oil GDP Growth Slide By 0.8%
•  Nigeria’s FDI Increases to USD 1.57bn in Q4
•  US-EXIM Bank to Provide USD 1.5bn in USD 10bn Power Deal
•  FG, British Partnerships to Invest USD 500m in Oil Sector
•  PIB to outlaw gas flaring
•  Nigeria spent half 2012 fuel subsidy budget on arrears
•  Removing CBN’s Autonomy’ll Stall FG Reforms
•  Inflation rate may hit 14% before December

Tanzania

•  Tanga Cement Decries High Costs

Zambia

•  Illovo profits increase
•  Zambia talking to Gunvor, Trafigura for oil supply
•  Zambia's 2011 copper output down y/y, cobalt up
•  Zambia May CPI quickens slightly to 6.6% y/y
•  World Bank urges Zambia to stop setting maize price

Zimbabwe

•  TA ditches ZFC, PG
•  Rio Tinto plans to dispose of Murowa
•  Mashold posts USD 1,9m profit
•  Zisco to soon resume operations: Mpofu
•  Seed Co profit soars to USD 19m
•  AfDB urges BNC restart
•  Cambria to list on ZSE
•  Zimplats Q3 production up
•  Kingdom seeks USD 200m for recapitalisation
•  Telecel subscriber base takes a dip
•  TN pushes for board changes at Pelhams
•  RioZim sees another loss for year 2012
•  Tetrad returns to profitability
•  Ariston concludes rights offer
•  Olivine launches USD 1.6m soya program
•  Deposits hit USD 4bn
•  Zim’s sugar production increases
•  Gold deliveries decline
•  Gas discovered in Manicaland