Weekly African Footprint: September 20 , 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

•  Citadel Capital plans USD 528m capital hike
•  Osasco Telecom Holding to be renamed on Egyptian Stock Exchange
•  EFG-Hermes announces stock dividends
•  Egypt hopes to tie oil payments to production increases
•  Egypt returns $2 billion to Qatar in sign of growing tensions

Ghana

•  Bank of Ghana to protect depositors’ funds
•  Ghana Central Bank Holds Key Rate to Help Support Economy
•  Ghana plans $1 bln bond next year: deputy finance minister
•  IMF forecasts Ghana 2013 GDP growth at 7 pct, below target
•  Ghana president names new head of state oil company

Kenya

•  Centum Investment to Buy Majority Stake of Kenyan Fund Manager
•  Portland inches closer to privatization
•  Kenya's Longhorn swings to year profit, warns on taxes
•  Cotton production set to rise by 260%
•  Kenya fuel prices rise on higher import costs
•  Kenya's economic outlook more favourable: IMF says
•  Treasury plans to review excise and income tax laws
•  Kenya secures funds for $650 million airport expansion

Mauritius

•  2013 inflation seen falling to 3.7% : Finance minister

Nigeria

•  Famous Brands takes 49% stake in Nigeria’s Mr Bigg’s
•  Shell says reopens 150,000 bpd Nigerian pipeline
•  UACN’s Shares Rise on Acquisition by South African Firm
•  Investors woo Unity Bank
•  Oando rolls out Mega stations
•  Nigerian Oil Companies Boost Production as Majors Retreat
•  Dangote to Invest $700m in Sugar, Rice Production in Kebbi
•  Oando Offers Buy Opportunity as Stock Falls 21%
•  Hilton, Transcorp partner to develop new Lagos hotel
•  UBA Leads Other Brands as Partner for Hello! Nigeria Launch
•  Lending rates may rise as banks guard against credit default
•  Nigeria’s Oil Exports Decline at Slower Pace in Second Quarter
•  Nigeria’s external trade grows by 4.8 per cent in Q2
•  Nigeria Aug inflation at new 5-year low of 8.2%
•  Liquidity squeeze hits banks as NIBOR rises to 44%
•  Consumer price index slides by 0.5% in August
•  Nigeria to spend $6 bln on 2013 fuel subsidy: finance minister
•  AMCON brings down losses by 70% to N700bn in 2012
•  Nigeria’s Investment Climate is Friendly

Tanzania

•  Tanzania Arabica coffee prices rise at latest sale

Zambia

•  CEC power sales revenue increases by 11 p.c
•  Address cross border hurdles – World Bank

Zimbabwe

•  BATZ suffers loss
•  Afdis eyes improved productivity with new bottling line
•  OK Zim issues 15m shares
•  Mwana raises USD 2.8m
•  Edgars unsure about Zimbabwe business prospects
•  Econet approves share buyback
•  Hippo Valley ups sugar output but profits dip
•  Meikles forced to retrench 55 workers
•  Bindura Nickel Corporation places 10 percent to creditors
•  Italian agro-firms eye Zimbabwe market
•  August inflation quickens to 1.28%
•  Non-food items push inflation
•  Tobacco exports gross USD 350m