Weekly African Footprint: June 15, 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.

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Botswana

•  African Copper gets BWP 45m capital injection
•  NewGold ETF runs out on high demand
•  Cresta launches recently-acquired Zambian hotel
•  Mascom launches 4G technology
•  Botswana leaves bank rate unchanged at 9.5%

Egypt

•  Egypt's Orascom Construction net income drops 54%
•  Egypt's Alcotexa sells 502 T cotton in past week
•  Egypt's Orascom Construction optimistic for full year
•  CPC announces 10-year strategic plan to ensure profitability
•  BNP eyes sale of Egypt retail operations-sources
•  Egypt Jul-Mar balance of payments USD 11.2bn deficit
•  Egypt core inflation slows to 7.2% in May
•  Some Ghana banks have more foreign than domestic currency in total deposit – BoG

Ghana

•  PBC pays shareholders GHS 8.159m as dividend
•  VRA expected to list on the GSE in future
•  Non-Traditional Exports hit USD 2.4bn in 2011
•  Ghana Mining Sector shows strong performance in 2011 –Chamber
•  Massive Withdrawals Hit Banks
•  Bank of Ghana hikes rate
•  Ghana’s public debt increases to GHS 25.8bn in April
•  Ghana’s inflation rises to 9.3% in May 2012

Kenya

•  AccessKenya Issues Bonus Share to Investors
•  Kenya Airways' FY pretax profit tumbles 57%
•  Kenya Power signs KES 1.13bn contract deal
•  Kenya to build high-voltage transmission line
•  Kenya to sell 10-year bond for USD 59m in June
•  State urged to introduce capital gains tax
•  Kenya invites bids for coal exploration blocks
•  Some Ghana banks have more foreign than domestic currency in total deposit – BoG
•  Kenya may issue debut Eurobond in 2012/13 fiscal yr
•  Githae presents Kenya’s KES 1.45tn budget
•  IMF projects dip in public debt

Malawi

•  Malawi sees troubled economy slowly growing
•  Malawi 2011 budget deficit hit 7.3% of GDP

Maurtius

•  Air Mauritius swings to full-year loss
•  Mauritius current account deficit widens in Q1
•  Mauritius foreign direct investment up 15%
•  Mauritius may have reached end of easing cycle
•  Mauritius may cut 2012 GDP forecast further
•  Mauritius holds rate steady, cautious on growth

Morocco

•  Moroccan-Turkish fertiliser JV targets big markets
•  Morocco's wheat imports at 2.9mT before drought

Namibia

•  Namibia May consumer inflation brakes to 6.0% y/y

Nigeria

•  MTN begins nine-month network modernisation nationwide
•  NSE Set to List Second Firm Since Downturn
•  Nigeria's Dangote expands his "cement powerhouse"
•  Olam acquires Nigerian dairy company
•  Power Holding Company of Nigeria to generate NGN 22.5bn monthly
•  Premium Pensions posts NGN 629.6m profit in 2011
•  Securities Africa Limited Completes Acquisition of Skye Stockbrokers
•  Total Nigeria posts NGN 173bn turnover
•  Fed Govt earns USD 9b from NLNG
•  Treasury bills set to regain their appeal
•  Value of Nigeria’s Agric Sector Projected to Hit USD 256bn
•  Power: Olorunsogo, Omotosho, Sapele, Boost Capacity By 1,025MW
•  Quarterly Returns: NSE Records 77% Compliance
•  Nigeria requires 4mbpd crude for stability
•  Nigeria’s Trade Value Hits N6.62tn
•  Power sector needs USD 500bn –NERC
•  SIM Registration: Operators, agents register 78.6m, contractors earn NGN 2.4bn
•  2012: FG releases NGN 404bn for capital projects
•  Govt spends NGN 1.44tn in five months, generates NGN 1.29tn
•  South Africa looks to Nigeria, Angola to replace Iran oil
•  Nigeria finance minister orders fuel subsidy slow down
•  Nigeria to auction NGN 84bn in local debt

Tanzania

•  Extractive industries revenue up threefold
•  Statoil, ExxonMobil make big gas find off Tanzania
•  Tanzania invites UAE to explore for oil and gas
•  Gas firm says won't pay money demanded by Tanzania
•  Tanzania cuts 2012 GDP growth outlook
•  Of Tanzania`s TZS 10bn 2012/13 budget, 14% to service debts

Zambia

•  Zambia Illovo Sugar unit workers strike over pay

Zimbabwe

•  Zimplow eyes bigger stake in TPH
•  Meikles in USD 3,4m loss
•  AICO slams cotton subsidy plan
•  Interfin, Remo licences cancelled
•  Meikles looks to raise USD 150m
•  Meikles acquires stake in SA’s Mentor
•  TN seeks to demerge bank
•  NTS profit up 72%
•  Interfin heads for liquidation
•  Falgold seeks USD 10m for recapitalisation
•  Cafca posts slight increase in earnings
•  Zim poised to clear AfDB arrears
•  RBZ to dispose of non-core assets by year end Biti
•  RBZ closes two troubled banks
•  Bank deposits up 21%
•  Tourist arrivals up
•  Cabinet approves diamond policy
•  Genesis depositors to get compensation
•  IMF team in Zim