Weekly African Footprint: November 09 , 2012

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

•  Furnmart releases results
•  Pension funds continue homeward drift

Egypt

•  Egypt’s EGAS pushes back bidding deadline to February
•  Amer Group to pump EGP 10bn investments in local market
•  Citadel Capital TAQA Power expands its scope of operations
•  Egypt’s Suez canal makes record revenue in two days
•  Foreign tourism up by 19.5%
•  Cabinet approves capital gains tax, raises income taxes

Ghana

•  Schindler partners Altra Electricals in Ghana
•  Ghana National Gas Company optimistic of December deadline
•  Valco bails out Aluworks
•  Pioneer Food Cannery resumes operations, recalls almost 1,800 worker
•  GCAA projects 10% growth in 2013
•  GCCI signs memorandum of understanding with Turkish Chamber

Kenya

•  Kenya Airways reports KES 4.7bn loss due to huge costs
•  Equity records 13.8% profit rise to KES 8.3bn
•  Pipeline gets court’s nod in row with KenolKobil
•  Insurer targets KES 750m in first public offering
•  Food security stable after bumper harvest
•  Kenya economic growth understated: Treasury official
•  Contract of oil exploration cancelled over ‘outrageous’ terms
•  New guidelines to guard banks from regional, emerging risks
•  Tourism board to change focus after looming reforms
•  Diaspora inflow falls to KES 7.8bn in September
•  Kenya c.bank cuts key rate 200 bps as inflation falls

Nigeria

•  Capcom states USD 210m to acquire Starcomms
•  New identity repositions Wapic Insurance
•  NAHCO reaps investment benefits, posts 65% growth in profit
•  Access Bank, Others drive Shell’s NGN 5bn local contractors fund
•  Stanbic IBTC reports NGN 64bn in gross revenue in 9 months
•  Insurer Old Mutual expands in Nigeria
•  Sinopec to acquire Nigerian Oil Blocks from Total
•  SEC to boost secondary market with bond trading
•  EIB, UBA earmark €50m for business expansion
•  Stanbic IBTC completes Holdco Structure
•  Financial market dealers move against rates abuse
•  Standard & Poor, Moody raise Nigeria’s creditworthiness
•  Nigerian Bond market valued at NGN 7.2tn
•  CBN releases revised guideline for Power, Airline fund
•  2013 budget: Senate summons NNPC boss over NPDC USD 500m revenue

Zambia

•  KCCI calls for reduced cost of labour
•  Quantum Oils calls for clear guidelines on bio-energy
•  Pay up, LuSE warns Shoprite
•  Banc ABC sets aside ZMK 1bn for rebasing

Zimbabwe

•  Olivine disposes of oil plants
•  Amplats to fund USD 302m Unki ownership deal
•  Delta investment hits USD 250m
•  RTG tackles debt
•  Delta H1 earnings up 41%
•  Biti to revise growth forecast
•  Ultimatum for banks
•  Banks warned over treasury bills
•  Zim mining sector output revised upwards
•  Zim needs USD 4bn stimulus package
•  Ten new power producers licensed
•  Manufacturing sector in crisis
•  Treasury Bills bank snub
•  Trade with SA declines