Weekly African Footprint: April 07, 2017

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

•  Reserves at over $28.5 bln, highest since 2011 - MENA

Ghana

•  Templeton's Hasenstab buys Ghana's cedi bonds: source
•  Stanbic Bank predicts 6% growth rate
•  World Bank to help Ghana solve economic challenges

Kenya

•  Mumias Sugar shuts operations for three months to allow maintenance
•  Nation nets Sh1.7bn in profit as dividend maintained at Sh10
•  KenGen's Sh6.9b wind power project in Meru delayed over land row
•  Kenya's budget paves way for Islamic finance
•  Kenya finance minister expects steady growth ahead of election
•  S. African owner buys Centum stake in Kenya Wines Agencies
•  NSE-listed banks invest Sh153bn in bonds in wake of rate control
•  Kenya private-sector activity slows as consumer demand falls
•  Kenya's debut mobile phone bond offer sells out in 13 days

Mauritius

•  Big jump in foreign direct investment in Mauritius

Nigeria

•  UBA to Expand to Six More African Countries
•  Group Signs MoU with Dangote
•  Shareholders Earn N168bn Dividend from Four Banks
•  Unity Bank’s Profit After Tax Falls by 53% to N2.2bn
•  Dangote Sugar, Flour total revenue up 84.8 % to N275.5bn
•  China offers Nigeria $4.5 bln loan for farm machinery
•  Nigeria central bank to sell dollars to fuel importers, airlines
•  IMF says Nigeria economy needs urgent reform, no FX curbs
•  Nigeria cabinet approves $1.3 billion loan for Development Bank of Nigeria - finance minister

Tanzania

•  DSE market cap down, dividend yield up in Q1

Zambia

•  Airtel to spend $50m on network
•  Zambia proposes flat power price for miners from Jan 2017

Zimbabwe

•  StanChart’s PAT up on cost efficiencies
•  BancABC FY net profit falls 24pct to $1,8 million
•  CFI Holdings on a recovery path, says acting CE
•  Metbank FY profit doubles to $660k
•  Tongaat-Govt joint venture to create over 10 000 jobs
•  Hwange Colliery narrows net loss but liabilities exceed assets by $168mln
•  Unifreight recovers, posts $1,7mln FY profit
•  GB Holdings remains in the red, says outlook brighter
•  AfDB wants local investors for $4bln Batoka power project
•  Clothing industry experiences 165% growth