Weekly African Footprint: August 29, 2016

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

•  Egypt's Orascom Construction Q2 net falls to $26.4 mln
•  Egypt's OTMT reports H1 loss
•  Egypt T-bill yields mixed at Sunday's auction
•  Egypt sees eurobond yield at 5.5-6 pct for Sept/Oct issuance
•  Egypt central bank sells 651.9 million euros in T-bills
•  Egypt wheat commission submits corruption report amid calls for minister to resign
•  Egypt plans to lift fuel subsidies within three years
•  Egypt's wheat corruption scandal takes down embattled supply minister

Ghana

•  2016 economic growth will go above 5%
•  IMF evaluates Ghana's fiscal outlook, could review assistance program
•  Ghana producer inflation rises to 10.3 percent in July

Kenya

•  Equity of Kenya First-Half Profit Grows 18% as Loan Income Jumps
•  Equity Expands Mobile-Bank Unit That Wins 8 Out of 10 Loans
•  KQ enters city bus business with Sh1,000 airport service
•  ARM banks on Sh14bn UK-owned fund injection to kick start Kitui plant
•  NSE half-year profit falls 54pc as market downturn takes toll
•  Banks cut deposits at CBK by half to meet liquidity
•  Kenyan president approves law capping commercial bank lending rates
•  Kenya finalises agreement for development of crude oil pipeline
•  Kenyan bank shares fall after lending rates capped
•  Kenyan bank shares pummelled by lending rates cap
•  Kenya 91-day T-bill yield dips to 8.607 pct
•  Kenyan shilling under pressure, dollar flows from tourism eyed

Mauritius

•  Mauritius trade deficit widens 7.1 pct in June
•  Mauritius 3-year Treasury bill yield bond to 3.20 pct

Nigeria

•  UBA, Access Bank, others lift NSE’s turnover by N12.9 billion
•  Access Bank’s Half-year Profit Grows by 28% to Hit N50 Billion
•  Wema Bank set to float N20 billion fresh debt capital
•  AfDB approves $350m loan to two Nigerian banks
•  UBA Records Marginal Profits in Half-year
•  CBN mops up N1.3tr in 60 days to stabilise economy
•  Nigeria's Buhari to ask for emergency powers to revive economy
•  Nigeria's naira gains 0.8 pct after cenbank dollar sales
•  Sun International to Exit Nigeria Amid Falling Occupancy
•  Nigeria asks banks to give 60 pct of their forex to manufacturing firms
•  Nigerian bank execs meet central bank over FX market suspension -sources
•  Nigeria naira quoted at 402 per dollar on black market
•  Nigeria's 2017 spending plan assumes oil at $42.50/barrel
•  Nigeria's distributable revenues fell to 444 billion naira in July
•  Nigeria naira at record black market low, stocks sink as FX bans weigh
•  Nigeria's settles $152 mln naira futures contract, enters new 12-month contract
•  UBA Records Marginal Profits in Half-year

Tanzania

•  NMB meets corporate customers
•  TBL firm to support farmers
•  Airtel Money distributes 3bn/- profit to customers
•  TBL profit slightly rises despite economic, market challenges
•  DSE recovers to preelection level
•  7 years bond undersubscribed
•  Tanzania's President Magufuli orders officials to speed up LNG project
•  Imported cement seen nowhere in local market
•  Tanzania 91-day T-bill yield edges lower to 7.46 pct

Zambia

•  Zambia's inflation slows to 19.6 percent in Aug

Zimbabwe

•  French firm Lesaffre injects $1 million into Gweru yeast plant
•  Econet’s EcoSure registers an increase
•  NetOne says daily revenue now at $400k
•  Ecobank H1 PAT up 50pct
•  FBC H1 after tax profit up 13 percent to $9,3mln
•  Turnall reports $1,8 loss in dismal H1
•  NMB H1 profit drops 17 percent
•  Insurer NicozDiamond GPW up 3pct, H1 profit falls
•  Cabs Records $20 Million Surplus
•  Drought, Finance Cuts Hit Cotton
•  Zimbabwe stops hiring public workers as it struggles to pay
•  Chinese and Austrian firms to upgrade major highway in Zimbabwe
•  Tobacco exports rake in $317m