Weekly African Footprint: September 13 , 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

•  Egyptian inflation slows to 9.7 pct in August
•  Egypt owes foreign oil companies $6 billion-PM
•  Egypt loses EGP 2bn annually from poor wheat storage

Ghana

•  Tullow to shut Ghana Jubilee production on September 20 for maintenance
•  Stanbic Bank will not list on the GSE
•  Court to rule in GCB contempt case
•  Gov’t subsidises fuel with ‘no cash’
•  South African businesses pour into Ghana
•  Ghana Inflation Slows to Ease Pressure on Central Bank
•  Ghana plans LNG power project to generate 1,500MW by 2016
•  Bank of Ghana to issue 600m cedi 5-year bond on Sept 26

Kenya

•  SA’s Stanlib plans Sh5.2bn shopping malls for Nairobi
•  EABL, Safaricom push Kenyan shares up for fifth session
•  Safaricom warns against more tax rises on money transfers
•  Local banks beat foreign rivals in profits contest
•  Kenya offers 12-year, 20 bln shilling infrastructure bond
•  Kenya's small-scale tea farmers see revenue increase, prices fall
•  Kenyan tea prices ease at latest sale
•  Kenya's tourism earnings drop 7.4pc
•  Public debt up by Sh67.5bn in two months to August

Mauritius

•  Mauritius bank gets $150mln loans from AfDB

Nigeria

•  Oando shareholders laud firm’s payment of N5.1 billion dividend
•  Dangote, Zenith Bank, Quits Aviation to Invest in Kenya
•  Skye Bank hinges growth on SMEs’ development
•  Diamond Bank disburses N70b to SME operators in four ye
•  Oando progresses towards acquisition of ConocoPhillips’ Nigerian assets
•  Access Bank shareholders laud firm’s divestment policy
•  FCMB Strengthens Retail Banking Operations
•  Flour Mills Reward Shareholders with N4.8bn in Dividends
•  FCMB strengthens retail banking operations
•  Airtel invests USD 3.5bn on technology expansion nationwide
•  Jonathan wants banks to increase lending to real sector
•  Nigeria sells NGN 57.73bn in bonds, yields rise

Tanzania

•  Tanzania says H1 2013 gold output down 12%
•  Tanzania-Zambia railway workers end strike, losses mount
•  Tanzania inflation slows to 6.7 pct in year to August
•  Tanzania coffee prices fall on higher supplies

Zimbabwe

•  AfrAsia ups Kingdom stake
•  Agribank posts half-year loss
•  Stanchart Zimbabwe earnings decline
•  Pearl records $1,9m half year profit
•  RTG launches ‘Stay now, pay later’ scheme
•  Econets’ Liquid Telecom connects Zim to W. Africa
•  RTG weighs down First Mutual
•  BNC eyes positive cash flow
•  TA after tax profit jumps 177%
•  Fidelity after tax profit declines
•  Small-scale miners eye US$35m funding
•  ZSE moves closer to demutualization
•  Zimbabwe courts diamond investors
•  Government to prioritise economic growth
•  Zimbabwe to develop economy with "new friends" like China
•  Govt to mobilize funds for industry
•  Zimbabwe family basket marginally rises