Weekly African Footprint: June 20 , 2014

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

• Coca-Cola invests in Egypt and Pakistan, sees big sales growth
• Egypt swears in new government to tackle economic woes
• Egypt seeks more cotton imports from African countries

Ghana

• Court to rule on takeover of HFC Bank on June 23
• First National to operate as commercial bank
• Fibre optic cable cuts worrying - MTN
• BP in $20bn natural gas deal
• IMF cuts US growth and urges minimum wage hike
• BoG records more foreign exchange payments than receipts
• Gov’t losing revenue from undervaluation of some imported fruit juices
• Take tough decisions to revive economy - Mahama told

Kenya

• Nakumatt secures Sh3bn KCB loan for Shoprite buyout
• Regulator clears DTB to sell 22m shares in rights issue
• Safaricom Security Project to Cost Sh21 Billion in All Counties
• Kenya's Diamond Trust Bank to raise 3.63 bln shillings via rights issue
• Kenya confirms raises $2 billion for debut Eurobond
• Kenya gets $3 bln orders so far for debut Eurobond – source
• Kenyan banks face tough new capital rules for their Ugandan subsidiaries
• Low consumer confidence slows down VAT collection
• Kenyan shilling stable, seen well supported

Nigeria

• PayPal Expands Payment Services to Nigeria, 9 Other Market
• Diamond Bank Applies to Raise N50.37bn through Rights Issue
• General Electric Deploys 75mw Gas Turbines to PH Refinery
• UK Court to Deliver Preliminary Judgment on Suit against Shell
• AFC Financed $385m Investments in 2013
• Demand for Oando’s shares go viral on COP deal approval
• Shareholders Approve Union Bank’s $750m Capital Raising Exercise
• FG’s Revenue Hits N922 Billion in April
• Higher Food Prices Push Inflation to 8% in May Eco
• Nigeria losing $35 mln a day from oil theft: report
• Nigeria government revenue rises to 844.0 bln naira in May
• Budget Deficit: FG May Meet 3% of GDP Ceiling
• ‘Appetite for Govt Securities to Remain Strong’
• Stakeholders List Ways to Attract Retail Investors to Stock Market
• Low Yields Propel Frontier Debt Revival
• Over One Million Jobs under Threat in Cement Industry, Labour Cries Out
• Stakeholders Raise Concern over Slow Adoption of Mobile Money
• Emefiele: GDP Rebasing to Support Nigeria’s Vision 20:2020
• India Replaces US as Largest Importer of Nigeria’s Crude
• NSE to Review Composition of Market Indices

Zimbabwe

• Lafarge to invest $250m in new plant
• Innscor loses court appeal
• NMB puts plans on hold
• Zimpost expects flat performance
• Mwana Africa poised for growth in Zim, DRC
• ABC set to benefit from fundraising
• Deflation pressure persists
• Minings shoots past the 50-level on buoyant Bindura
• Meikles in major shake up
• Three insurance firms in Telecash agreement
• ZimSwitch connecting local banks to the region
• Call for policies that attract FDI

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