Weekly African Footprint: November 08, 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's Juhayna says Q3 net profit down 23%

Ghana

•  Fortiz Plans to List Merchant Bank Ghana, Central Bank Says
•  Ecobank attributes cedi’s declining fortunes to huge govt spending
•  Gold Fields to decide on loss-making Ghana mine by Q1 2014
•  Ghana assures Chinese investors of protection
•  Ghana cocoa purchases 107,917 T in first week of season
•  Ghana eyes $1b Brazilian facility to undertake energy, agric projects

Kenya

•  Kenya’s Equity Bank posts 7% rise in 9-month pretax profit
•  Kenya Airways Questions Buying Boeings Without U.S. Flights t
•  Kenya's ARM Cement's nine-month pretax profit rises 28 pct
•  Safaricom profit hits KES 11bn riding on data and M-pesa
•  ARM Cement of Kenya Mulls Eurobond Sale to Fund Expansion
•  KenGen’s $1.65 Billion Rights Offer to Quadruple Shares
•  National Bank of Kenya nine-month profit doubles
•  Britain's Tullow Oil to resume Kenya work after protests
•  Kenya forex reserves dip in latest week: central bank
•  Kenya tea prices edge up at latest sale
•  Kenya Shilling firms on tight liquidity, shares dip
•  Tight money market supports Kenyan shilling

Mauritius

•  Air Mauritius says first-half loss narrows
•  Mauritius annual average inflation falls to 3.40 pct in Oct

Nigeria

•  ETI records USD 299m profit
•  Dangote Cement posts NGN 151bn Q3 profit
•  Conoil’s Q3 profit soars by 341%
•  FCMB Group’s PTB rises 21% to N14.7bn in 9 months
•  Nigeria's Access Bank raises $100 mln in bilateral debt - CEO
•  Union Bank Records N70 Billion Q3 Earnings
•  GTBank to Float $500m Eurobond
•  Diamond Bank suspends planned USD 550m bond issue
•  Standard Alliance Life returns to profitability, rakes in NGN 2.88bn premium
•  Nigeria’s Zenith Bank Targets Power as Siemens Fights Blackouts
•  GTB issues $400m Eurobond at 6.125 percent yield
•  Amnesty criticizes Shell's reporting of Nigerian oil spills
•  Zenith Bank to Increase Loans to Power Sector
•  Japaul Oil suffers 144.60% drop in profit, amidst increasing cost
•  Nigeria's oil savings down 52 pct this year to $4.3 bln
•  Nigeria's local bourse index hits 3-month high on earnings
•  National Assembly Increases Oil Benchmark to $76.5pb

Tanzania

•  Tanzania needs to tackle subsidies, tax exemptions: IMF
•  Tanzania says partners risk weakening east Africa bloc

Zambia

•  Mining company Vedanta plans to cut 1,529 jobs in Zambia
•  CEC spreads tentacles to Nigeria
•  Most stakeholders laud Sata’s stance on raw copper law
•  State to curb abuse, revenue outflow
•  Zambia exchange to delay trading currency futures
•  Vedanta, Glencore Xstrata Agree to Start Zambia Power-Cost Talks
•  Zambia’s external debt under PF Government grows by almost 90 % to reach $3.2 billion

Zimbabwe

•  Econet, Cell Insurance to seal insurance deal
•  Africa Sun, Dawn rebundle?
•  NSSA blocks van Hoogstraten’s Capital Bank bid
•  Meikles reinstates workers
•  SA firm eyes Trust Bank
•  Afdis poised to grow turnover by 20pc
•  Seed Co posts $12,8m loss
•  Talks underway on Zim debt
•  Zimbabwe 2014 budget delayed until at least next month
•  Cost of living decreases
•  GDP projected to grow by 6pc
•  IMF team expected in Zimbabwe
•  Bank profits dive as bad debts top $500m
•  Mugabe makes new farmers winners
•  Securities Commission changes name
•  Zimbabwe's Marange diamonds running out
•  Government to review mining taxes
•  Zimbabwe needs support