Weekly African Footprint: December 19 2014

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.

Botswana

•  Dim copper price outlook leads to Botswana mine closure
•  Botswana leaves benchmark rate at 7.5 percent

Egypt

•  Egypt signs first gas fracking contract with Apache, Shell
•  Egypt market sinks 5% as foreigners revaluate investments on global losses
•  France to fund new trains for Egypt's metro
•  Egyptian pound steady at official auction, stronger on black market
•  Egypt's market slides 4.6% to 5 month-low
•  Egypt's stocks rally as regional markets stabilise
•  Egypt targets 4.3 pct growth in 2015/16 draft budget
•  World Bank urges Egypt to make reforms before investor conference

Ghana

•  Ghana must cut "ghost workers" from payroll before aid resumes EU
•  New gas plant could save Ghana $300 mln on fuel costs -official

Kenya

•  Kenya Sugar Industry to Cut Costs Before Safeguards Removed
•  Seal of approval as Uchumi rights issue is overshot by 83 per cent
•  KCB to be City Halls main banker over 8-year loan term
•  Bamburi in fresh Sh492m tax row with KRA
•  Uchumi shareholder moved 2.3m shares ahead of rights issue
•  Court stops rollout of Equity Banks thin SIM cards
•  Kenya's Uchumi raises 896 mln shillings for expansion
•  KenGen's rights issue set for Q1 2015 -official
•  Kenyans edge foreign rivals out of big power contracts
•  Kenya cuts maximum retail prices of fuel
•  Kenya's 2-year, 15-year bond yields up; Treasury bills mixed
•  Kenyan shares fall to four-month low, shilling steady

Mauritius

•  New Mauritius Hotels posts 11.6 pct rise in annual pretax profit

Nigeria

•  Nigerias UBA Capital Halts Africa Expansion on Ebola Concerns
•  UBA Extends Banking Services to Twitter
•  Nigerian Stock Index Drops to 2-Year Low as Oil Trades Under $60
•  Nigeria Sinks Below Zimbabwe Stock Valuations on Oil Rout
•  Nigeria consumer inflation eases to 7.9 pct y/y in Nov -stats office
•  Nigeria's economic pain may not decide election
•  Nigeria's main oil worker unions to start strike on Dec 15
•  Nigeria oil savings fall 13 pct to $3.1 billion minister
•  Oil price plunge forces Nigeria to slash 2015 growth forecast
•  Nigeria's recurrent spending takes lion share of budget
•  Nigerian central bank restricts dollar holdings to curb speculation on naira
•  Yields rise over 200 basis points at Nigeria debt auction
•  Yields Rise Above 200 Basis Points at Debt Auction

Zambia

•  Barrick to suspend operations at Zambian mine after royalty increase
•  Copper firms on supply outlook worries, oil price rise

Zimbabwe

•  MBCA to rebrand to Nedbank
•  World Bank to audit Zim civil service
•  Cotton Sector Collapses
•  Canadian bank snaps 9,5% stake in AfrAsia
•  Low prices affect gold sector
•  World Bank plans $100 million fund for Zimbabwe
•  Zimbabwe to lobby against tobacco law