Weekly African Footprint: June 22, 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

•  Botswana mine accident hits production at Gem Diamonds
•  Botswana inflation at 7.7% y/y in May
•  Botswana's economic growth could slow to 4.1% in 2012

Egypt

•  Egypt gets USD 3.7bn financing for refinery project
•  Buy-out group says Sawiris still backs EFG bid
•  Egypt economy to grow under 2% in 2012: Central bank
•  Egypt's central bank leaves interest rates unchanged
•  Egypt's elusive economic fix slips further away

Ghana

•  Ghana Oil Company takes giant leap into energy sector
•  Ghana records GHS 5.1bn revenue, grants first five months of 2012
•  Ghana loses USD 1.1bn of foreign reserves
•  Ghana imports USD 1.5bn oil products first-five months of 2012
•  BoG Mops Up GHS 1.2bn Excess Liquidity
•  Ghana’s 1st oil & gas shorebase under construction at Funko in Ahanta West
•  Ghana monitoring euro banks downgrade to remove reserves
•  Remittances through Ghana banks hit USD 5.9bn

Kenya

•  CMC Records 220% Profit Growth Before Tax
•  Centum profit hit by FX swings, cost of credit
•  Kenya's Kapchorua issues FY 2012 profit warning
•  Kenyan fuel marketer KenolKobil issues profit warning
•  Kenya Airways turns focus on Africa
•  Equity Bank counting on CBK to review lending rates
•  Kenya oil refinery to add merchant operations
•  Airtel cuts modem cost by 50%
•  Uchumi sees full-year sales up a third - CEO
•  KPRL receives KES 21bn loan boost
•  Kenyan investment group eyes property for growth
•  Kenya 2012 C/A deficit may hit 15% of GDP –World Bank
•  Kenya central bank seeks to mop up USD 59m via repo
•  Kenya central bank drags yield on 10-yr bond lower
•  World Bank lends Kenya USD 600m for infrastructure

Malawi

•  Malawi's donors pledge nearly USD 500m in budget aid
•  Malawi inflation hits seven-year high in May
•  U.S. restores USD 350m Malawi aid programme

Maurtius

•  Mauritius sugar firm plans higher output in Tanzania

Morocco

•  Abu Dhabi's TAQA signs USD 1.4bn deal for Morocco power plant
•  Morocco Jan-May trade deficit up 10% y/y
•  Moroccan central bank holds rates, keeps growth forecast
•  Morocco consumer price inflation eases to 1% in May

Namibia

•  Namibia's central bank leaves bank rate steady at 6%

Nigeria

•  PHCN's NGN 23bn Debt Stalls Gas to Power, Says Iget
•  Cement Company of Northern Nigeria Declares 45kobo Dividend
•  Solar-powered GSM network coming
•  C & I Leasing targets 85% stake in Ghanaian firm
•  Regency Alliance earns N262.8m profit
•  Shell invests USD 3b on gas infrastructure
•  Shell Reduces Gas Flaring By 60% in Nine Years
•  Fortis MFB Lists on NSE, to Raise N7bn Fresh Capital
•  Chevron’s Apoi field now producing 2,000 barrel per day
•  Unity Bank agric loan hit NGN 28bn in 2yrs-MD
•  Nigeria, Turkey trade over USD 1.2bn
•  Nigeria inflation eases to 12.7% yr-yr in May
•  Fed Govt to issue NGN 100bn T-bills
•  World Bank Boosts Nigerian Agriculture with USD 300m
•  Power: World Bank Yet to Approve Partial Risk Guarantee
•  Power, transportation hindering real sector growth, says CBN
•  NSE to reconstitute council as Dangote returns
•  Nigeria’s Crude Production Hits 2.48m bpd
•  Nigeria resumes normal fuel subsidy pay after review
•  Foreign Reserves Drop to USD 37.242bn
•  Banks’ credit to private sector up by NGN 279b
•  NNPC, Shell partner on NPDC’s 250,000 bpd target
•  FG mulls USD 4bn supplementary budget
•  BOI approved NGN 77bn loans in 2011 - Aganga
•  Nigerian Content to be mandatory for bid rounds, licences
•  SEC Boss, Stockbrokers Discuss Way Forward for Market

Tanzania

•  Uranex Invites Bids for Tanzania Coal Project Stake
•  Tanzania: Foreigners Rush for CRDB Shares
•  CRDB to expand into Burundi
•  Tanzania inflation slows to 18.2% in May
•  Tanzania gas reserves nearly triple on new finds

Zambia

•  Denison waits for higher prices to develop Zambia mine
•  Zambia tightens mine tax collection regulations
•  Zambia to hike power rates on miners up to 2015

Zimbabwe

•  Hunyani Holdings to invest USD 3,1m in capital projects
•  Bak Logistics drives TSL
•  ZABG gets USD 22m injection
•  Royal’s CBA deal ripens
•  Govt reviews Essar deal
•  Cambria gets nod to take over Celsys
•  Zimplow seeks USD 11,2m for acquisition
•  Africa Sun ups stake in Dawn
•  WMMI needs USD 7m fresh capital
•  Customers owe Zesa USD 600m
•  LontohCoal delays plan for USD 1bn Hong Kong listing
•  Cairns seeks USD 20m for working capital
•  Pick n Pay now in Zimbabwe
•  Zimbabwe CPI little changed at 4.02% y/y in May
•  Zim Q1 trade deficit hits USD 700m: Zimstats •  Global slowdown to affect Zim economy: WB