Weekly African Footprint: September 14, 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

•  Kalahari Copperbelt yields first mine
•  Botswana August inflation slows to 6.6% y/y

Egypt

•  Yields drop at Egypt 91, 266-day T-bill auction
•  Egypt’s PM to put economic focus on growth, deficit cut
•  Egypt urban consumer prices up 6.5% in August
•  Egypt to lift ban on rice exports in October: paper
•  Egypt balance of payments gap narrows sharply in Q2
•  EU pledges 500m euros in macroeconomic aid for Egypt

Ghana

•  Vodafone drops in market share as Glo exceeds target
•  UBA records profits
•  GT Bank relaunches private banking
•  Bank of Ghana likely to hold key rate on cedi rebound
•  Ghana mulls whether to scrap windfall tax on miners’ profits

Kenya

•  KQ’s low-cost licence open to rivals’ scrutiny
•  Chinese firm enters Kenya’s auto market
•  Kenol puts on hold investment after KES 2.8bn loss
•  CfC Stanbic rights issue gets parent company backing
•  Stanchart offers 31.6% discount on rights issue share
•  Vodafone set to lower M-Pesa fees for Safaricom
•  First significant gas found offshore Kenya
•  Banks lower lending rates after key rate cut
•  High financing costs to push up petrol prices

Malawi

•  UK, Malawi formally restore ties

Maurtius

•  Mauritius says H1 FDI up 20% y

Nigeria

•  Flour Mills acquires Bagco, Bagco-North
•  Air Nigeria shuts down in latest aviation setback
•  First Bank, Citi Bank to join securities lending agents
•  Brokers seek speedy resolution of market cases
•  Flour Mills commits NGN 10.4bn on expansion
•  PZ shareholders to approve NGN 1.7bn dividends
•  Nigeria's Access Bank more than doubles H1 pre-tax profit
•  Access Bank moves to reduce stake in Zambia unit to 49%
•  Sanusi on tight rope as macro policies fail to trickle down
•  Telecoms companies threaten to leave the north
•  Stakeholders push for legislation on telecoms facilities
•  Nigeria bank recovery fails to reach real economy
•  Data credibility threatens FG loan access plan
•  CBN under scrutiny over funds transfer by indicted oil firms
•  Nigerian funds switch back to stocks as earnings soar
•  Nigeria exports USD 1.35bn worth of non-oil products in 6 months
•  PIB, budget, constitution review top agenda as reps set for resumption

Tanzania

•  Postal bank prepares for listing
•  Precision Air posts 2bn pre-tax profit
•  NMB promotion gets positive results
•  Banks, mining and investment ventures lined up for bourse initial public offering

Zambia

•  NECL invests USD 60m in Ndola
•  CEC turnover increases
•  PICZ annual turnover exceeds ZMK 200bn
•  State to boost economic ties with Italy
•  Zambia to register positive economic growth – ZDA
•  Revised mines Act ready next year
•  Zambia copper exports increases
•  Mobile payment to improve banking services
•  Zambia rejects copper project on environmental grounds
•  Zambia sells debut USD 750m Eurobond to boost budget

Zimbabwe

•  Nestle poised to increase exports
•  SECZ begins ZSE transformation
•  Oil firm set to relaunch products
•  Dairibord faces stiff competition
•  National Foods sales up 15%
•  Econet Wireless scores a first
•  Bindura USD 21m rights issue fully subscribed
•  ZMDC pays USD 300m dividend to govt
•  Econet targeting 100% coverage by 2015
•  Mineral output on target
•  New Investment Act raises optimism
•  Gordhan, Biti to discuss Zimbabwe assistance
•  Mining exports bring in USD 1.5bn
•  Fuel prices keep rising
•  Exporters blast Zimra red tape
•  Govt reviews Essar deal
•  USD 5bn needed to recapitalise mines
•  SA firm mulls USD 7,5bn project