Weekly African Footprint: September 21, 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

•  Stanchart profits dip on higher expenses
•  Air Botswana increases its fleet
•  Inflation falls to 6.6% in August

Egypt

•  Egypt Suez Canal official sees stable revenue in 2012
•  EFG Hermes shareholders approve QInvest deal
•  OCI says it won USD 400m project to build Egypt mall
•  Egypt tells investors it is working to jumpstart economy
•  Egypt-based Islamic finance firm eyes USD 100m investment
•  IMF hopes to conclude Egypt talks by year end: spokesperson

Ghana

•  Eni makes first big oil discovery in Ghana
•  Refined Oil Imports Overtake Crude. Trade Deficit Widens

Kenya

•  Turkish steel makers seek share in Kenyan market
•  NIC rights issue set for full subscription, say market analysts
•  CFC cash call lifts rights price at bourse
•  Safaricom seeks out of court deal in copyright
•  Kengen to establish solar power plant to cut costs
•  KenGen starts Sh420bn funds search
•  Kenyan shilling dips, lower rates to weigh
•  Investors set to snap up Kenyan 15-year bond
•  Kenya central bank to focus on lowering inflation, currency stability
•  Kenya oil explorers demand new revenue sharing contracts for gas
•  Top five banks charge highest interest rate on loans
•  Kenya seeks nearly 400tns oil products for Oct-Nov delivery
•  Kenyan shilling gains versus dollar, shares creep up
•  Kenya's 15-yr T-bond yield falls less than expected
•  Treasury bill rates start to rise after investors’ snub

Malawi

•  Malawi inflation at 25.5% y/y in August
•  Malawi leader arrives in US: To address UN summit and lure investors

Maurtius

•  Mauritius August tourist arrivals down 1.4%

Namibia

•  Barclays to buy major stake in Bank Windhoek

Nigeria

•  Dangote strategises to reduce cement price, opens more depots
•  Guinness Nigeria full-year pre-tax profit down 19.5%
•  First Bank Funds USD 29.030m Offshore Vessel
•  FCMB, FinBank merger at 95% completion
•  Oando, Honeywell, Vigeo, Rockson, Southern, others shortlisted to bid for power Discos
•  Guinness declares NGN 8 dividend per share
•  Honeywell declares N 10.7bn turnover, N 475m profit in Q1.
•  Fidelity, Access, Citi sign MoU with Shell on local content
•  Oando, Julius Berger witness mark-up in stocks after power plant bid
•  First Bank targets 101m mobile subscribers with Firstmonie
•  Nigerian Breweries closes at all time high on market making
•  Naira, stocks to benefit from US Fed action
•  Nigerian growth 6.28% in Q2, inflation eases
•  Nigeria to double cocoa output to 500k tonnes by 2015
•  Nigerian naira falls vs dollar on strong fx demand
•  Nigeria to raise NGN 863bn in treasury bills in Q4
•  NSE bans retail investors from securities lending
•  Oil and gas, insurance stocks disappoint investors
•  Nigeria naira firms after central bank rate decision
•  Nigerian governors to block oil wealth fund in court

Tanzania

•  Tanzania orders review of all oil and gas exploration contracts
•  BoT pushes for increased exports
•  Tanzania says will not revoke any oil and gas PSAs

Zambia

•  Zambia’s CEC progresses Kabompo Gorge hydroelectric project
• Kwacha rebasing success depends on partnerships • AfDB commends Zambia on Eurobond • Tazara, China seal agreement • Kwacha likely to strengthen in medium term • Zambia plans to spend over USD 5bn on roads in 5 yrs • Zambia approves USD 832m Chinese copper project •  Zambia central bank leaves benchmark rate steady at 9%

Zimbabwe

•  Zimplow eyes Tractive Power takeover
•  TN Holdings seals USD 845k Rufaro Marketing deal
•  Telecel expects to hit 2m active subscriber mark
•  CBZ share buy-back approved
•  NicozDiamond streamlines investment portfolio
•  Zimbabwe retail group OK FY earnings up 133%
•  Pelhams seeks USD 5m for working capital
•  Meikles rolls out Pick’n Pay branch
•  ZPC signs USD 230m power deal
•  OK earmarks USD 16m for expansion
•  Zimbabwe Alloys secures USD 60m loan
•  NicozDiamond revises share buyback
•  Edgars Q1 turnover up 30%
•  Cambria records USD 15m loss
•  Mwana Africa to restart Bindura Nickel
•  Hunyani dispose Botswana unit
•  Potraz working on USD 30m project
•  Biti orders ZSE to expedite automation
•  Zim gets USD 11m ACBF grants