Weekly African Footprint: November 23 , 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

•  BCL partners with Aussie firm to expand tenements
•  Inflation seen rising on fuel price hike
•  Coal export gathers pace
•  Botswana launches City lodge’s African expansion

Egypt

•  EFG Hermes 9m net profit falls 18.8%
•  The constitution-drafting assembly faces fatal threats
•  Egypt to pump full gas supplies to Jordan by mid
•  IMF accord on Egypt loan pushes yield lower

Ghana

•  Accra Brewery Limited unveils Stone Strong Lager
•  CDH and Phoenix to merge
•  Economic growth not matched with employment
•  Govt to establish fertilizer production plant
•  Ghana’s trade deficit deteriorates
•  Interest rates remain stable
•  Govt records 7.3% fiscal deficit for 1st nine months
•  World Bank supports Ghana with USD 75m grants
•  S &P affirms ‘B’ credit rating on Ghana

Kenya

•  National bank reports a 67% drop in profit after-tax to KES 396m
•  Safaricom shares touch Sh5 IPO price
•  BBK races ahead of StanChart to win KenGen deal
•  Tax revenue rises 13.3% in four months to October
•  Cabinet approves plan to convert Telkom loan into shares
•  Kenyan firms eye Ethiopia as new investment hub
•  Tea lobby calls for review of ‘ad valorem’ levy

Nigeria

•  UBA divests non-banking subsidiaries
•  Lafarge advocates cement use in road construction
•  Triple Gee grows profit by 112.66%
•  Flour Mills gets SEC’s nod for BAGCO merger
•  Shareholders approve Zenith Bank LSE listing
•  SEC approves Flour Mills, Bagco merger arrangement
•  FG targets USD 16bn foreign investment in 2013
•  Economy grows by 6.48% despite rising inflation
•  Borrowing will facilitate economic growth
•  Nigeria records 1.2,mt of production loss
•  Nigeria’s double digit growth tied to investment in power
•  CBN urged to relax Monetary Policy to facilitate growth

Tanzania

•  TBL posts positive performance

Zambia

•  Chambishi MFEZ attracts USD 1bn pledges
•  Stanchart approves ZMK 85bn bonus new ordinary share
•  ZAMANCO to invest $60m in manganese project
•  Stanbic to spend K8bn on rebasing exercise
•  ZRL transformation in the pipeline
•  Zambia Breweries records growth in profit
•  BoZ urges commercial banks to brief it
•  Kwacha projected to improve
•  State institutes probe into business global rankings
•  State, Vedanta to establish Kabwe economic zone
•  Serenje manganese mine to open
•  Procurement authority launches standard bidding
•  Finland calls on State to diversify agric sector
•  State to create one million jobs

Zimbabwe

•  PPC plans USD 200m cement plant
•  Amplats’ Zim unit may build new mine
•  PG shareholders to decide on Manica fate
•  Seed Co expect rebound
•  Hwange bidders in final round
•  Firms to reduce energy bills
•  OK Zimbabwe earnings up 21%
•  Zim debt strategy on course
•  Treasury to stimulate mortgage finance
•  October inflation reaches 3.38%
•  SECZ pushes for more disclosures
•  ZSE auto trading system ready soon
•  Tobacco production to rise 18pc
•  Zim experienced slowdown in growth: Mpariwa