Weekly African Footprint: October 18 , 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 5% y/y in September

Egypt

•  Hope glimmers for demoralized Egyptian tourist industry
•  Egypt’s economy grew by 2.1% in year to end – June—minis
•  Egypt, US relations in turmoil—minister

Ghana

•  Vivo Energy takes over Shell Ghana Ltd
•  PZ Cussons relaunches Imperial Leather
•  Mining companies to disclose terms of contracts
•  Ghana Credit Rating Cut by Fitch Amid Budget Gap Concern
•  Ghana to continue tight monetary policy after downgrade -cbank

Kenya

•  Kenya Power to invest USD 1.8bn in 5 years to expand network
•  CFC Stanbic and China’s ICBC to fund 83 MW Kenya power project
•  Kenya ranked third largest recipient of World Bank loans
•  Devolution lifts Kenya’s governance ranking
•  Currency printing cost rises sharply to KES 2.4bn
•  Kenya tea prices dip in latest auction
•  Kenya total debt rises 3.15% in July
•  Tight supply keeps Kenyan shilling rooted around 85 per dollar
•  Steady Kenyan shilling seen firmer on tight liquidity

Malawi

•  Norway suspends budget aid to Malawi

Mauritius

•  Mauritius' 5-yr Treasury bond yield to 4.4%
•  Mauritius reopens 3-yr Treasury note at 3.75%

Nigeria

•  8 Banks seal USD 7.5bn Total N igeria
•  Wema Bank returns to profitability in Q3
•  NSE records first listing as CWG joins stock market
•  Oando Secures $815m Credit for Conoco Phillips’ Asset Acquisition
•  Banks contend with high cost of funds
•  Nigeria inflation falls to new 5-year low of 8%

Zambia

•  S. Africa’s Shoprite repeals decision to fire 3,000 Zambian workers
•  External debt rises to USD 3.13bn
•  Tax Obligation to strengthen Kwacha
•  State to tackle fiscal policy challenges
•  LuSE’s low liquidity worries NAPSA
•  Cost of living drops slightly

Zimbabwe

•  EcoCash surpasses USD 1bn mark
•  MedTech back in the black
•  New twist to Caps saga
•  Hwange in bid to double output
•  Murowa diamond production up
•  IPEC probes Econet Wireless
•  Zimbabwe softens approach to indigenisation
•  Zimbabwe on track to economic recovery: World Bank
•  Zimbabwe legislators clash over food, corruption
•  SECZ tightens disclosure rules
•  Govt sets 9,9pc economic growth target