Weekly African Footprint: November 22 , 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.

Botswana

•  Botswana consumer inflation slows to 4.8% y/y in October
•  Botswana grants gas exploration rights in Kalahari

Egypt

•  Egypt grants licences to export 102,000 of white rice

Ghana

•  Cedi depreciation affects Airtel’s operations
•  Fidelity Bank pushes for financial inclusion
•  Oil and Gas service providers to petition BoG
•  Ghana risks losing huge oil tax revenue
•  ECG implements tariff reduction
•  Ghana plans to introduce mining windfall tax bill

Kenya

•  KenGen mulls over KES 460bn rights issue to finance 5,000 MW projects
•  Tullow announces fifth oil find in Kenya
•  Uhuru eyes investments at the Africa-Arab summit
•  Power tariffs to hit key sectors of economy with 13% rise in bills
•  KES 1.2tn railway contract reserved for one Chinese company

Malawi

•  Malawi consumer inflation quickens to 22.2% y/y in October

Nigeria

•  UBA maintains 60% liquidity ratio
•  Heritage partners RSL derivatives on SME development
•  Afren, Lekoil announce oil discovery in OPL310
•  First bank, others harp on ethical business reporting
•  Nestle’s NGN 1.2bn interim dividend
•  Nedbank to take 20% stake worth USD 500m in Ecobank
•  Nigerian growth quickens in Q3, oil output recovers
•  FG to reduce domestic borrowing by 75% in 2016
•  Industrialists seek CBN’s reversal of foreign exchange policy
•  FG to sell four state owned refineries next year
•  Nigeria records over 40% post-harvest losses
•  Foreign Investors’ holding in FGN bonds hit USD 5.1bn
•  SEC restates commitment to protect investors

Tanzania

•  Tanzania Arabica coffee prices fall as supply improves
•  Tanzania’s cabinet approves final natural gas policy

Zambia

•  Zambia-Tanzania copper railway shut after accident

Zimbabwe

•  Afdis gets shareholders boost
•  Colcom invests USD 1.5m in new equipment
•  Delta pushes for excise duty review
•  BNC’s turnaround strategy bears fruit
•  Penny stocks to exit ZSE
•  OK revenue slow as liquidity tightens
•  USD 95m private placement for AAK
•  Interfresh seeks nod to delist
•  Border Timbers board taken to task
•  Cottco engages textile industry experts
•  Radar operating profit up
•  Delta’s lager woes hit Zimglass hard
•  More FDIs key to Zim Asset success
•  Zimbabwe October inflation slows to 0.59% y/y
•  ZSE raises USD 1.5m automation
•  Stock exchange mulls quarterly reports
•  SECZ appeals ruling