Weekly African Footprint: May 25, 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

•  Hana Mining lists on BSE

Egypt

•  Investors bank on election restoring stability to Egypt
•  Egypt GDP grows an unexpected 5.2% in 1Q2012
•  Egypt to sell USD 500m in treasury bonds to Saudi Arabia
•  Egypt Q1 jobless rate climbs to 12.6%: Statistic body
•  Egypt mobile subscriptions up a fifth in March
•  Egypt's trade balance deficit up annual 9.8% in January
•  Egypt buys 1.1m tonnes of local wheat
•  Saudi aid package for Egypt being finalised: Finance minister

Ghana

•  Ghana says 8.5% end-year inflation target achievable
•  Ghana to benefit from USD 3bn from US
•  Ghana extends IMF programme to December
•  Trade between Ghana and India to reach USD 1bn by 2013
•  Insurance Commission targets 10% micro insurance penetration
•  Ghana sources USD 990m for Eastern Rail Project
•  Ghana central bank says 3-year bond auction oversubscribed
•  Ghana to rebase inflation index - stats office
•  Ghana April producer inflation dips to 15.81%

Kenya

•  Kenya's KenGen Eyes USD 686m Gas-fired Power Plant
•  Ecobank receives KES 2.1bn capital injection
•  Lafarge has last word on its shares, Bamburi says
•  Kenya yields head into single digits
•  Cash-strapped banks turn to shareholders for funds
•  Kenya Advertising Spend to Rise as Competition Grows, TBWA Says
•  IFC Investments in the Country to Hit USD 500m
•  Kenya fails to utilise KES 251.5bn

Malawi

•  Malawi CPI quickens to 12.4% y/y in April
•  Bank of England to help Malawi on devaluation

Maurtius

•  Mauritius tourism earnings up 15.6% in Q1
•  Mauritius trade deficit narrows 21.9% in March
•  Mauritius sees balance of payments surplus halved

Morocco

•  Morocco to auction 4G licences in 2012
•  Morocco to start work on 500 MW solar plant in 2012
•  Morocco eyes possible dollar bond in Sept/Oct

Nigeria

•  Nigeria fines MTN, others USD 7.38m for bad service
•  UPDC declares N11bn turnover for 2011
•  Shareholders Foresee Fortune in Lafarge WAPCO
•  Shareholders endorse Fidelity Bank’s NGN 0.14 dividend
•  UBA shareholders support repositioning plans
•  Sterling to Maintain Double-digit Revenue Growth
•  FCMB: Shareholders Approve Bonus Issue, Holdco Structure
•  Oando Reports NGN 14.9bn Pre-tax profit
•  Lafarge WAPCO to increase local input
•  Dangote Cement targets 60m tonnes’ production by 2015
•  Nigeria says oil revenue fell 13.8% in April
•  Nigerian interbank rates up as liquidity dips further
•  Electricity hike: FG pays NGN 100bn in subsidy
•  Nigeria cuts June price for Bonny, Qua crude
•  Nigeria LNG: Train 7 to Attract USD 8bn FDI
•  Ogun Partners Energy Commission on Power Supply
•  Nigeria holds rates on lower growth, oil output
•  NSE Seeks CBN’s Intervention on Dividend Payment
•  Nigeria bond yields fall after rates held
•  Naira falls as oil import rises
•  2012: GDP declines by 0.96% in Q1
•  Lagos seeks NGN 31bn World Bank loan
•  Little room for policy manoeuvre: Nigeria central bank

Tanzania

•  Tanga Cement 2011 profit dips, eyes USD 165m expansion
•  Power shortages widen Tanzania's trade deficit

Zambia

•  Zambia Sugar profits up 40%
•  EIB to fund key Zambian electricity link
•  IMF agrees with State on economic growth

Zimbabwe

•  Inter-parastatal debt soars to US$1,5bn
•  Essar moves to rescue ZISCO deal
•  Mbada Diamonds says remitted USD 300m to treasury
•  New Dawn revenues up 86%
•  Ecobank Zimbabwe goes commercial
•  Pearl Properties posts 10% rental income increase
•  Econet Wireless Group concludes USD 362m loan facility
•  Aico USD 50m rights issue put on hold
•  Zimbabwe's Mimosa sees 75,000 T ore loss after fire
•  RioZim's woes mount
•  RBZ blacklists Zimplats, blocks platinum mine’s access to banking services
•  Govt moves another step to settle external debt
•  Tobacco sales generate USD 362m
•  Govt slashes mining fees
•  Biti pushes diamond policy reforms