Weekly African Footprint: May 03 , 2013

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.

Botswana

•  Botswana Central Bank Cuts Key Rate for First Time Since 2010

Ghana

•  Unilever Ghana Sees 10% Revenue Growth on Lipton Tea Exports

Kenya

•  EABL plan to eat into illicit brews’ market
•  NIC’s after-tax profit goes up by 20 per cent
•  Uchumi Falls to Lowest in Six Months on Valuation
•  Safaricom hits five-year high of Sh7 a share
•  KQ customers to pay for flights via Bonga points
•  Equity ranked Kenya’s top bank in a new survey
•  Sugar shortage looms as miller set for repairs
•  Insurance firms lost millions to fraud last year, reveals agency
•  Uhuru hands workers 14pc raise in minimum wage
•  IMF says Kenya debt servicing increased by 14pc
•  Kenya to start oil production in six years, says IMF
•  Uhuru rolls out Sh1.6 trillion inaugural Budget

Nigeria

•  Infrastructure Development Bank gets NGN 29bn capital base approval
•  New capacity lifts Dangote Cement’s sales
•  FCMB declares NGN 16.3bn profit issues bonus shares
•  Enterprise Bank records NGN 40bn gross earnings
•  NCZ produces 10,000mt fertilizer
•  FCMB posts N15.3bn after tax profit
•  Zenith Bank targets N2trn deposit base by 2013
•  Taraba, Dangote to establish sugar factory in Lau
•  Nigeria's Dangote Cement rises to unprecedented high
•  Nigeria's UACN pays dividend, bonus as profits soar
•  Nigeria's First Bank Q1 pretax profit up 29 pct yr-yr
•  Diamond Bank shareholders endorse $ 750m capital raising
•  Niger Delta action plan to pool USD 10bn in investment
•  Nigeria leads Africa’s syndicated loans market with USD 10bn deals
•  Niger Delta group calls for speedy passage of PIB

Zambia

•  Cavmont raises KR40.9m in rights offer
•  3 firms keen to setup cement plants
•  Demand for steel to rise to 300,00 tonnes—ZDA

Zimbabwe

•  Freda Rebecca gold output up 37%
•  CABS channels USD 101m into housing projects
•  RioZim to commission USD 1m oxygen plant
•  RioZim unbundles
•  RBZ seeks Royal Bank closure
•  AICO in trouble, Shareholders differ on strategies
•  Zimplats posts US$65m profit
•  Govt stalls Mimosa indigenisation talks
•  ReNaissance engages creditors
•  Zimbabwe engages Malawi over commodities exchange
•  Govt to craft contract farming blueprint
•  Tobacco farmers earn US$346m