Weekly African Footprint: November 01 , 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.

Egypt

•  Egypt central bank keeps rates on hold amid sluggish growth

Ghana

•  Ecobank group board chairman to resign
•  Agricultural Development Bank loses appeal against MD
•  Low tariff scaring away investors

Kenya

•  Kengen seeks KES 500bn for expansion plan
•  KCB profit hits 10bn in nine months
•  Safaricom shuts down cash for Bonga Points platform
•  Equity blocks Passaris’ Sh35.8m pay
•  Financial sector losses KES 1bn to techno-savvy criminals

Nigeria

•  Union Bank to Divest Non-banking Subsidiaries in 18 Months
•  Investors Await Listing of CWG on NSE
•  FG to handover Power Holding’s assets
•  Eni’s Q3 output hit by ‘extraordinary reductions’ in Nigeria, Libya
•  UBA Capital Grows Profit by 341% in Nine Months
•  Nigeria Finance Ministry Says Revenue Gap May Reach $12 Billion

Zambia

•  Zambia exchange to start trading currency futures in November
•  Fitch downgrades Zambia rating, outlook stable

Zimbabwe

•  Impala, Aquarius Mine in Zimbabwe Mulls Second Shaft
•  Hwange in quandary
•  Econet has invested $1.2bn in Zimbabwe since inception
•  Zimplats posts US$40m profit
•  Mimosa Platinum mine planning to set up smelter
•  Meikles mining partner, Centar cleared
•  Zimbabwe Deciding How to Structure Mine Funding Bond
•  Minerals earn US$1,4bn
•  Zimbabwe to resume gold refining
•  Nampower to finance Zimbabwe energy projects
•  Govt to settle RBZ FCA debts
•  IMF team expected in Zimbabwe next week
•  Banking sector half-year profit declines