Weekly African Footprint: June 08, 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

•  Govt considers BPC tariff hike
•  BCL exploration goes beyond copper
•  Nortex Textiles Limited abandons BWP 30m expansion plans
•  Botswana's largest copper mine commissioned
•  Batswana are Africa's third biggest spenders
•  IMF upgrades Botswana growth forecast
•  Diamond exports halve in April

Egypt

•  Egypt's EFG rebuffs buy-out offer
•  Buy-out group says Sawiris still backs EFG bid
•  Egypt's OCI gets USD 100m loan from World Bank
•  Egypt bars brokerages from trading foreign stocks
•  Egypt's new budget targets subsidies, boosts wages, social spending
•  Egypt's Suez Canal revenue USD 434.6m in May
•  Egypt trade balance rises annual 138% in February
•  Egypt foreign reserves up USD 302m in May, helped by foreign aid
•  Egypt will slash fuel subsidies by 27%: State budget
•  Egypt secures USD 3.7bn for refinery

Ghana

•  GCB expected to make upswing in income this year
•  Ghana says 2012/2013 fertiliser subsidy unchanged
•  Ghana 5-yr bond auction yield at 26% -cbank

Kenya

•  CMC Records 220% Profit Growth Before Tax
•  Etihad in talks to buy KQ’s single largest shareholder
•  Kenya Airways' USD 250m cash call gets 70% demand
•  Kenya leaves benchmark interest rate at 18%
•  Kenya gets loan to boost FX reserves, fund infrastructure

Malawi

•  Britain sends aid to help Malawi rebuild economy
•  Malawi, IMF agree 3-yr, USD 157m support package

Maurtius

•  Mauritius's Omnicane to raise MUR 1bn via bonds
•  Mauritius inflation rate falls to 5.3% in May

Morocco

•  Moroccan lender BCP buys into I.Coast's Atlantique
•  Morocco says no final decision on dollar bond issue

Namibia

•  Barclays to buy major stake in Bank Windhoek

Nigeria

•  Goldberg re-enters Nigerian market
•  Concern over ConocoPhillips’ exit from Nigeria
•  NASCON diversifies, goes into vegetable oil refining
•  BPE awaits ‘further directive’ on NITEL
•  33 listed companies operate below listing standards
•  First Bank Partners RIA on Money Transfer
•  Skye Bank Projects NGN 14bn Profit for Q3
•  Diamond Bank strategises for growth
•  Union Bank boss makes case for agric financing
•  Singapore's Olam buys Nigerian food company
•  FIRS grants tax exemption to banks’ holding companies
•  Nigeria-US Oil Exports Rose to USD 34bn in 2011
•  Buyers coming for bank-owned insurance firms
•  Interbank rates up on CBN liquidity mop-up
•  2012 growth forecast now 6-7% – Okonjo-Iweala
•  FG to Float USD 100m Diaspora Bond in 2013
•  Fed Govt secures NGN 6.6tn investment commitments
•  Pencom assets hit NGN 2.6tn
•  Trade between Nigeria, Turkey hits USD 1.2bn
•  IPP to deliver 1,025MW to national grid
•  Q1: Nigeria’s trade volume declines by 22.4%
•  CBN offers 75% loan guarantees to farmers
•  AGOA: Nigeria records USD 44.3bn exports to U.S

Tanzania

•  Tanzania trade deficit doubles due to oil demand

Zambia

•  Zambia’s CEC progresses Kabompo Gorge hydroelectric project
•  Maamba mine ups production
•  Zambia central bank leaves benchmark rate steady at 9%

Zimbabwe

•  Zimplow eyes Tractive Power takeover
•  TN Holdings seals USD 845k Rufaro Marketing deal
•  Telecel expects to hit 2m active subscriber mark
•  CBZ share buy-back approved
•  NicozDiamond streamlines investment portfolio
•  Zimbabwe retail group OK FY earnings up 133%
•  Pelhams seeks USD 5m for working capital
•  Meikles rolls out Pick’n Pay branch
•  ZPC signs USD 230m power deal
•  OK earmarks USD 16m for expansion
•  Zimbabwe Alloys secures USD 60m loan
•  NicozDiamond revises share buyback
•  Edgars Q1 turnover up 30%
•  Cambria records USD 15m loss
•  Mwana Africa to restart Bindura Nickel
•  Hunyani dispose Botswana unit
•  Potraz working on USD 30m project
•  Biti orders ZSE to expedite automation
•  Zim gets USD 11m ACBF grants