Weekly African Footprint: September 07, 2012

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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.

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Botswana

•  Botswana’s diamond exports drop 61% in July
•  Botswana exports NGN 8,5bn diamonds in Second Quarter
•  Botswana moves up world competitiveness rankings

Egypt

•  Egypt’s Sewedy Q2 profit slides 82%
•  Egypt's OCI expands in US fertilisers, construction
•  Qatar to invest USD 18bn in Egypt
•  Egypt’s foreign reserves rise by USD 705m in August
•  Egypt pound weakens to 7-year low
•  US nears deal for USD 1bn in Egypt debt relief
•  Egypt rates seen on hold, currency in focus

Ghana

•  GCB opens 158th branch at Abeka-Lapaz
•  Ghana to produce gas in commercial quantities by February 2013

Kenya

•  Top Kenya Airways executives pay goes up by 24%
•  Airtel seeks talks with President on termination rates
•  Mumias Sugar sheds 33% profit to KES 1.7bn
•  City Hall left Co-op Bank’s cheaper offer for Equity loan
•  CMC loses exclusive Land Rover, Ford franchise contracts
•  Airtel hit by strike at Indian BPO firm
•  Kenya Airways cuts jobs after court lifts barring order
•  NIC Bank share premium hits KES 14.55 as trade window closes
•  Kenya's Safaricom to invest USD 95m in fibre-optics
•  Kenya Airways staff cuts to hurt profit
•  CMA rejects push to set minimum brokerage fees
•  Inflation drop raises calls for interest rate cut
•  Alarm over sharp increase in sugar imports
•  NSE system to end paper use in trading
•  Kenya top grade coffee price rises, demand weak
•  Kenya central bank makes record interest rate cut
•  Banks' profit-taking lifts Kenya shilling after rate cut
•  Kenyan short rains expected to help ease inflation

Maurtius

•  Mauritius inflation keeps falling in August

Nigeria

•  Evaluation of Afam Power bids restart
•  Conoil shareholders approve NGN 1.73bn total dividend payout
•  Eland Oil to list after buying Nigeria block
•  GTB Bank H1 profit soars 63%
•  Nigeria Cadbury's H1 pre-tax profit jumps 50.46%
•  Air Nigeria suspends operations, sacks staff
•  Flour Mills of Nigeria advances most in 19 weeks
•  Union bank stocks continue to attract strong sentiments
•  Fidelity Bank grows deposits by 61% to N554bn
•  FG to announce new SEC board this week
•  World Bank loans, grants to Nigeria hit NGN 696.92bn
•  Nigerian naira falls on strong dollar demand
•  Fuel price increase generates NGN 71bn in 3 months
•  Banks lending to private sector rises by 4.1% in Q2
•  Power generation maintains record high at 4203mw
•  2012 budget threatened as FG pumps oil below projection
•  Telcos target USD 1bn mobile VAS market to drive revenue
•  SEC, NSE Target 700 SMEs for listing
•  Investors seek removal of withholding tax on dividends
•  FG to build five new airport terminals with NGN 106bn
•  Nigeria's Okonjo-Iweala doesn't want WTO job: ministry
•  Government, not pension, should bail out stock market

Tanzania

•  Bank of Tanzania proposes Bank M for participation in central depository
•  Tanzania says Total close to signing exploration agreement
•  Tanzania delays offshore licensing round –regulator
•  Tanzania hikes petrol, diesel prices on import costs
•  Tanzania c/a deficit soars on higher oil imports

Zambia

•  Nampak focuses its investment in Zambia
•  USD 40m Radisson Blu hotel opens
•  Investrust records increase in assets
•  Puma profits increase by ZMK 89bn
•  Kwacha witnesses 0.3% depreciation
•  Investment pledges soar USD 4.1bn
•  Zambia’s trade surplus commended

Zimbabwe

•  AICO unbundles
•  Zimplow revenue declines
•  NMBZ half-year profit rises
•  Falgold to become New Dawn subsidiary
•  BNC staff settlement plan on course
•  Stanbic posts USD 6.5m PAT
•  RTG moves to contain costs
•  Interfresh narrows loss
•  Mwana Africa to underwrite BNC rights issue
•  RioZim stuck in the red
•  Innscor FY earnings up 48%
•  New products boost Colcom
•  RTG seeks new CEO
•  Cabinet approves Essar Africa deal
•  Ecobank shrugs off equity law fears
•  National Foods profits surge
•  USD 64m Botswana loan deal sealed
•  Deputy minister appeals for Aussie investment
•  Economy set for reforms
•  Lack of capital hinders industrial growth
•  Zimbabwe and Botswana seal BWP 500m credit deal
•  Freda Rebecca output up 75%
•  Diamonds: treasury gets 9% of USD 456m
•  Cash crunch forces Zimbabwe to seek regional aid