Weekly African Footprint: September 06 , 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

•  Circle oil net production rises 47%
•  UAE to shower Egypt with additional $2bn in deposits, grants
•  Egypt scraps emergency sugar tariff

Ghana

•  GSE, SEC anticipates increased corporate bond issues

Kenya

•  Kenya's Uchumi Supermarkets posts 20 pct jump in FY profit
•  Kenya's Mumias sees return to profit after $25 mln loss
•  Kenya's Uchumi plans rights share issue by December
•  Kenya inflation rises in August after fuel prices climb
•  Kenyan Finance Minister says debut Eurobond could go as high as $2 billion
•  Kenya central bank holds key lending rate at 8.5%

Mauritius

•  Mauritius offers 10-yr bond worth $38 mln

Nigeria

•  UBA unveils consolidation strategy, appoints new top managers
•  Ecobank CEO forgoes bonus pending Nigeria investigation
•  Ecobank: Our 2012 Financial Accounts were Duly Audited Skye Bank Introduces Two New Products
•  Nigeria’s UBA looking to put USD 2bn into African power sector
•  SEC confirms investigation of Ecobank’s results
•  Beta Glass posts 52% Growth in Half-year profit
•  Report on Half-year results rates GT Bank as most efficient
•  Continental Re, Swiss Re partner on life insurance
•  Total battling with high finance costs
•  Access Bank unfolds communications strategy for five-year transformation agenda
•  Nigeria's Dangote signs $3.3 bln loan from banks for refinery
•  Nigeria's Dangote Sugar to spend $1.5 billion on cane farming
•  AFDB seals USD 7.5bn power deal with Djibouti
•  Worsening unemployment crisis worries Sanusi
•  Nigeria's AMCON seeks bids for Enterprise Bank sale
•  Nigeria central bank to buck pressure to devalue naira
•  PFA’s Investment in Non-government Bonds hits NGN 246bn
•  Dollar demand reduced by 27% in August

Tanzania

•  Tanzania raises fuel prices on high import costs

Zambia

•  Maize to be Zambia’s major earner
•  Zambia Re-Basing Later This Year May Boost Economy Size

Zimbabwe

•  Lafarge profit declines
•  Mwana Africa bosses agree to pay cut
•  Low cotton intake weighs down Aico
•  Metbank profit up 27pc
•  Low confidence hampers Lifestyle cattle banking
•  AICO Africa to dispose Olivine, SeedCo stakes
•  Agribank secures $98,6 million loan
•  SEC working on modalities to protect minority shareholders
•  ZSE has no plans to delist inactive counters: CEO
•  A World Bank economic overview of Zimbabwe’s future
•  China-backed firm plans 600 MW Zimbabwe electricity plant