Market Insight: May 14, 2012

Africa

•  Uganda set to reduce reliance on donor funding as oil production begins this year
•  Angola plans to increase state worker wages by 10%
•  Malawi raises key interest rate to 16%

Nigeria

•  ASI -44bps, $17.96mill. Banking sector closed the week down -4.5%
•  Etisalat to invest $500mill in Nigeria after country’s mobile phone operators fined a cumulative $7.4mill
•  Nigerian power consumers to pay higher prices from 1 June
•  Ecobank Transnational Inc to raise $2bn by June 2013 for further expansion

Kenya

•  NSE20 +28bps, $3.46mill
•  Kenyan growth statistics for Q4 GDP due out on Wed 16 May

Botswana

•  DCI +37bps, $332k

Egypt

•  Closed

Mauritius

•  Semdex +2bps, $1.1mill

South Africa

•  ALSI +60bps, $1.28bn

Zambia

•  LuSE +2.3%, $60k

Zimbabwe

•  Ind +6bps, Mining -2.5%, $1.61mill
 

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