Weekly African Footprint: March 28 , 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

•  Suez Canal revenues forecast to hit record USD 5.5bn this year
•  Centamin profit up as production jump offsets weak prices
•  Maire Tecnimont wins Egypt deal worth up to $1 bln

Ghana

•  GTBank declares USD 650 profit
•  SIC Insurance pays over GHS 27m in claims in 2013
•  Ecobank’s profit hit GHS 190m in 2013
•  Barclays Ghana records GHS 202m profit in 2013
•  Ghana cocoa main crop purchases reach 673,215 March 13
•  Ghana cancels 5-year domestic bond auction slated for this month
•  Ghana producer price inflation rises to 27.1 pct in Feb
•  IMF urges review of forex rules

Kenya

•  KCB resumes work in South Sudan after recent fighting
•  Kenya's Limuru Tea profit tumbles in 2013 on slide in asset, auction values
•  StanChart Kenya posts 16 pct jump in 2013 pretax profit
•  StanChart Kenya sees growing middle-class boosting 2014 growth
•  Kenya’s National Bank 2013 profit up 57% y/y, cash call on track
•  Vodafone’s Safaricom May Withdraw Its Offer for Essar Kenya
•  Kenya’s property at risk of sale over KES 1bn Anglo leasing debt
•  Banks lift Kenyan shares, shilling under pressure
•  Central Bank action lifts Kenyan shilling: shares down

Mauritius

•  Mauritius sugar producer Terra Mauricia 2013 profit falls 29 pct
•  Mauritius luxury hotel group Sun Resorts swings to full-year loss

Nigeria

•  FCMB commits USD400m to power sector
•  Access Bank to increase support to oil sector
•  GSK Nigeria posts 3.4 pct rise in full-year profit
•  Shell Nigeria declares force majeure on Forcados oil exports
•  Dangote formally launches 42.5 cement grade with Standards Organisation of Nigeria approval
•  Dangote Cement Profit Gains 39% as Nigeria Sales Rise
•  Ashaka Cement faults plan to ban 32.5 cement grade
•  Central Bank targets 6% inflation rate
•  Maintenance to halt Nigerian Okwori crude oil exports in May
•  IFC Proposes $1.5bn Annual Investment in Nigeria
•  Nigeria central bank holds interest rate at 12%
•  Capital Market Regulators mull reduction of Transaction cost
•  Nigeria Devaluation Opposed by Incoming Central Bank Chief

Tanzania

•  Tanzania current account deficit widens by 35% y/y in January

Zambia

•  Lafarge commissions USD 1m concrete lab
•  Zambia’s growth prospects still strong: Fitch
•  Zambia lifts forex restrictions to ease pressure on Kwacha
•  Zambia inflation at 7.7 percent year-on-year in March

Zimbabwe

•  Implats shows interest in Zim refinery
•  Fidelity life puts on hold micro-banking venture
•  Dairibord invests USD 3.5m to refurbish steri-milk plant
•  Econet, banks set to finalise on tariffs agreement
•  ZB Holdings should have issued profit warning
•  ABC Holdings courts investors 
•  BNC can process platinum metals
•  Astra records profit rise
•  NMBZ eyes return to profitability
•  First Mutual Holdings Limited posts 14% increase in gross premium income
•  Cheap imports costing Zim USD 120m annually
•  Zimbabwe’s New Central Bank Governor Faces Currency Constraint
•  $103m bills offered to repay RBZ debt
•  IMF says Zimbabwe to register moderate growth, exports vulnerable