Weekly African Footprint: November 21, 2014

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

•  Disney in talks to build theme park in Egypt: Minister
•  Disney not considering a theme park in Egypt: Spokesman
•  Egypt's mobile lines fall 1.8 million on security clean-up
•  Bisco Misr majority shareholders agree to Kellogg offer
•  Egypt's stocks rally for second day in a row
•  Egypt economy grows 1.1% in Q1 as power shortage takes toll
•  Egypt Pound Drops in Black Market on Qatar Loan-Payment Concern

Ghana

•  Ghana Stocks Rally Ninth Day as Cedi Pares Worst Drop
•  Ghana Seen Cutting Budget Gap in 2015 as IMF Program Unfolds
•  Ghana national oil company to take over state gas firm
•  S&P cuts Tullow Oil rating on Ghana exposure
•  APM Terminals agrees $1 bln port expansion in Ghana

Kenya

•  LeapFrog Acquires Majority Stake in Kenyas Resolution Insurance
•  Centum of Kenya Changes K-Rep Bank Board After Buying Control
•  Centum acquires majority stake in K-Rep Bank
•  Safaricom to cede 30pc capacity on 4G network
•  EABL to unveil Sh5,230-a-bottle whisky
•  Britam ranks top in customer service survey
•  KenGen tests fourth unit of 280MW mega power project
•  Uchumi weathers strong rights issue headwinds
•  ARM steps up expansion plans across East Africa
•  AfDB to lend Kenya $133 mln to extend access to power
•  Interest income, property sale buoy StanChart Kenya's Q3 profit
•  Kenya's I&M Bank Group's nine-months profit up as staff costs fall
•  Kenya Power secures $190 mln loan for infrastructure upgrade
•  Kenya's debt sustainable at 46 percent of GDP: central bank head

Mauritius

•  Mauritius Commercial Bank Group Q1 pretax profit up 6.7 pct

Nigeria

•  Dangote Says Nigeria Lagos Refinery to Start by Mid-2018
•  Oando Grows Profit by 83% to N11bn
•  Ecobank Nigeria secures $150 million loan from foreign banks
•  Access Bank, Airtel Nigeria Unveil Mobile Money Platform
•  Shell completes sale of Nigeria oil field stake for $600 million
•  Nigeria Plans Budget Cuts as Oil Price Drop Erodes Revenue
•  Naira Drops to Record as Budget Cuts Fail to Convince
•  Naira Falls to Record Low as Nigeria Stocks Decline
•  Nigeria must adjust to "permanent" oil price shock: Finance Minister
•  Nigeria oil bill unlikely to pass before Feb election - finance min
•  CBN Signs N213bn Agreement with Power Sector Players
•  Profit Taking Halts Stock Market Rally

Tanzania

•  TBL posts half year 149.24bn/- operating profit

Zambia

•  Zambia Raises Key Interest Rate to Record as Vote Nears

Zimbabwe

•  PPC secures $75m for Zim project
•  Zimbabwe liquidity crisis to worsen: RBZ governor
•  Zimbabwe bank to issue $65 mln bonds for power upgrade
•  Zim, Zambia to launch KAZA univisa
•  Zim employment goals regress
•  Tobacco seasonal exports decline

contacts
  • Bermuda +1 441 278 7620
  • South Africa +27 11 268 5833