Weekly African Footprint: May 04, 2012

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Botswana

•  Botswana Diamonds Interim Loss Narrows to USD 365K

Egypt

•  NAP rakes in BWP 76m profits in maiden results
•  Mupane Gold budgets BWP 25m for exploration
•  Botswana Diamond exports back down in March
•  Botswana mobile phone tariffs among Africa’s cheapest
•  Botswana central bank leaves bank rate unchanged at 9.5%

Egypt

•  Egypt's Mobinil swings to loss on higher costs
•  Egypt's Citadel Capital narrows loss in 2011
•  Vimpelcom lends Orascom USD 2.5bn for network growth
•  State-run petrol firm proposes shake-up in Egypt subsidies
•  Egypt money supply up 6.7% year-on-year
•  Egypt needs to do more to secure IMF aid
•  Egypt's c.bank keeps key interest rates steady

Ghana

•  Ghana's SIC says Q1 net profit up 36%
•  Ghana's Cocobod probes 70,000 t discrepancy
•  Remittances Hit USD 2.9b First Two Months Of 2012
•  Ghana, Korea sign USD 122m loan agreements to boost water, power supply
•  Ghana's cedi to stabilise by mid-May – FinMin
•  Ghana 120,000 bpd target "probable" in 2013-Tullow

Kenya

•  Kenya Power gets the greenlight for tariff review
•  South Africa's FirstRand plans Kenya bank acquisition
•  Airtel offers loans over the phone
•  Banks’ feel heat of expensive credit
•  Kenya inflation slows to 13%, lowest since May 2011
•  Kenya holds benchmark interest rate for fifth month

Maurtius

•  Mauritius central bank expects inflation to fall in 2012
•  Mauritius business chamber ups 2012 growth forecast

Namibia

•  Dundee Precious Metals to cut Namibian smelter feed

Nigeria

•  FCMB Records NGN 4.4bn Profit in Q1
•  Stanbic declares NGN 3.4bn profit in first quarter
•  Nigeria's Starcomms pre-tax loss tripples
•  Q1: Access Bank Makes NGN 63bn Gross Earnings
•  Nestle begins 2012 with strong earnings
•  Shell to invest fresh NGN 624bn in Nigeria
•  First Bank invests NGN 500bn in Nigeria’s oil, gas projects
•  Q1: Zenith, Unity Declare Positive Results
•  NB Declares NGN 22.6bn Dividend for Shareholders
•  AMCON to go after debtors’ foreign assets
•  Nigerian forex reserves hit more than 1-year high
•  FG Pledges Continued Reforms in Oil Sector
•  Broadband Internet not feasible until 2015
•  Stanbic declares NGN 3.4bn profit in first quarter
•  Edo 450MW plant comes on stream in June -minister

Tanzania

•  Ophir Energy's offshore Tanzania assets could contain 50 Tcf of gas
•  Tanzania Gold Shipments Increase to Record, Diamonds Decline

Zambia

•  Barrick profit lifted by gold price; raises dividend
•  Zambia maize output drops about 6%

Zimbabwe

•  Meikles embarks on USD 8m renovations
•  Zimplats Q3 profit soars on higher platinum prices
•  Takura Capital acquires Agricom
•  High operating costs weigh down Tractive Power
•  Locals take over M&R
•  Old Mutual rolls out BEE plan
•  Astra profits bump 167%
•  Mineral revenues surge
•  Mobile money transfer poised for growth
•  Zimbabwe trade with China tops USD 800m