Weekly African Footprint: March 16, 2012

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Botswana

•  Botswana forms new state-owned diamond trading company
•  Choppies' profit up by 24%
•  Petra Diamonds plans bulk sample from KX36 in Botswana after promising initial work
•  Botswana moves to shake off 'tax haven' tag
•  EU grants Botswana BWP 250M for budget support
•  Govt lifts suspension on diamond cutting licences
•  Banks stampede to lend govt BWP 1.6bn
•  Botswana inflation slows to 8.2% in February

Egypt

•  Egypt's Juhayna to invest EGP 750m in 2012
•  Egypt's OT 4th quarter net loss narrows to USD 83m
•  Egypt's Palm Hills reports 2011 loss vs 2010 profit
•  Egypt seeks to raise USD 580m from sale of T-bills as inflation soars
•  Egypt says deficit not to exceed EGP 144bn

Ghana

•  Accra Brewery Limited to commission USD 2.5m commercial ‘Chibuku’ drink plant
•  General Electric, Ghana Sign USD 200m Rail Deal
•  MTN SMS revenue decline heavily
•  Tullow Oil profit soars on new field, lifts payout
•  Telcos generate 10% government income in Ghana
•  Ghana gold output to rebound in 2012
•  India-Ghana trade to hit USD 1bn by 2013
•  Ghana Feb inflation eases on food prices
•  Ghana still mulling new IMF programme

Kenya

•  Kenya Airways gets approval to raise USD 246m for fleet expansion
•  Afren seeks seismic data on Kenyan exploration block
•  Corporate demand puts AccessKenya back into profit
•  StanChart Bank Kenya reverses trading book losses
•  Kenyan hotelier TPS's profit jumps 23% in 2011
•  NMG posts KES 2.8bn pre-tax profit
•  New twist as Capital Markets plans inquiry at troubled CMC
•  IMF sees Kenya economy growing 5%, inflation falling in 2012
•  Kenyan energy price rises muddy rate cut decision
•  Kenya sees tourism income down on euro, al Shabaab

Malawi

•  Malawi to print MWK 1,000 note as inflation rises

Maurtius

•  Mauritius Sun Resorts pretax profit down 9.4% in 2011
•  Mauritius 2011 current account deficit widens
•  Mauritius February tourist arrivals up 2.5% yr/yr

Morocco

•  India's Ranbaxy opens Morocco unit
•  Bad weather to hit Morocco growth forecast

Namibia

•  Namibia February inflation quickens to 7.4% y/y

Nigeria

•  Kaduna refinery boosts production capacity to 70%
•  Zenith Bank to pay NGN 0.95 dividend per share
•  NSE Lists Lafarge Cement WAPCO NGN 11.8bn Bond
•  Transcorp Projects NGN 1.5bn in Q2, Inaugurates Fruit Plant
•  Chevron eyes 20% production growth by 2017
•  Zenith to grow loans to NGN 1tn
•  House queries USD 105m price tag on NITEL, Mtel
•  Dangote Sugar Targets N5.1bn Profit
•  Nigeria's FCMB warns of 2011 loss, shares fall
•  NSE List More Corporate Bonds
•  World Bank, IMF to assess Nigeria’s financial sector stability
•  Credit to Private Sector Rises By 42%, Now NGN 13.348tn
•  119 firms to submit 2011 reports by March 31 – NSE
•  Nigeria GDP growth rises to 7.68% in Q4 2011
•  Nigeria issues 1st fuel import deals after subsidy row
•  Nigeria issues gasoline import permits for Q2
•  Nigerian stock exchange sees sharp rise in foreign buying
•  Non-oil sector drives Nigeria’s growth
•  Nigeria, Germany sign NGN 3bn renewable energy pact
•  Nigeria parliament inflates 2012 budget, may cause stalemate
•  NCC bemoans multiple taxation on telecoms operators

Tanzania

•  IMF sees Tanzania growth 6.5 to 7% in 2012-13
•  Tanzania Feb inflation eases to 19.4% yr/yr

Zambia

•  Indian firm to invest in Zambia’s mining sector
•  Caledonia finds near-surface copper at Zambian prospect
•  Zambia's GDP growth expected to increase in 2012-IMF
•  Zambia seeks nearly 1.5m barrels oil products-trade
•  Zambia to build power lines for mines, cotton trade
•  Nigerian bank to help fund Zambia power projects

Zimbabwe

•  Kingdom Bank, MasterCard launch new service
•  Subsidy standoff cripples Sable Chemicals
•  Edgars posts USD 3,3m profit
•  Incomes growth favourable for Natfoods
•  ZMDC set to acquire 30% of ZABG
•  Govt loans to clear Sable debt
•  Platinum investors court ZMDC
•  Zimre Property’s profits rise 66%
•  Zimbabwe, Implats agree on 51% stake transfer
•  Chemco to delist from ZSE
•  Brodacom invests USD 25m in telecoms equipment
•  We are self-sufficient: M&R
•  Implats tells Zimbabwe to pay up before it gets stake
•  SECZ orders Ariston to convene fresh EGM
•  Debts weigh down RTG
•  Tobacco Sales Limited to restructure
•  Power investors get three months
•  USD 1,7bn power line for Mat North
•  Zimbabwe gold production off to slow start in 2012
•  2012 budget off the rails
•  Zimbabwe Feb CPI inflation unchanged at 4.3% y/y