Weekly African Footprint: February 05, 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.

Botswana

•  Botswana Widens Budget Deficit to 3.8% as Diamond Revenue Slides

Egypt

•  Egypt's NBE bank sold $2.5 bln in 3 months to cover imports -chairman
•  Egyptian dairy firm Domty plans to list in March
•  El Sewedy Electric unit in $484.5 mln Angola power stations deal
•  Egypt's Banque Misr set for $100 mln China Development Bank loan
•  Egypt increases tariffs on range of imports
•  Egyptian pound steady at forex sale, stronger on black market
•  Egypt M2 money supply rises 18.6 pct in December -central bank
•  Egypt sees World Bank funds arriving soon, eyes more Saudi aid

Ghana

•  BoG halts belt tightening squeeze

Kenya

•  Family Bank sets eyes on 100 branches
•  Depositors to wait as shareholders fight to save Imperial Bank
•  Jobs at stake as Portland Cement land tussle escalates
•  Kenya Sees Narrower Budget Deficit of 6.9% of GDP in 2016-17
•  Kenya's shilling little changed, CBK to mop up Sh8bn

Malawi

•  Malawi's 2016 growth pegged at over 4 percent, kwacha seen stabilising

Nigeria

•  Guinness Nigeria Profit Falls as Weaker Economy Hits Sales
•  Dangote Cement Comes under Scrutiny in Ghana
•  MTN hires former U.S. attorney general to help on Nigeria fine
•  N24bn Gain on Disposed Investment Boosts Flour Mills' Profit
•  FirstBank Promotes Trade Financing
•  GTBank to Redeem $500m Eurobond Ahead of Maturity Date
•  Nigerian interbank rate falls on increased liquidity
•  Nigeria Seeks $3.5 Billion in Loans From World Bank, AfDB
•  Nigeria requests $1 bln African Development Bank budget support loan
•  Nigeria to end oil swaps, go directly to refiners from March: NNPC
•  FG May Sell $100bn Assets to Shore Up Foreign Reserves
•  Nigeria's debt rises by N1.31tn in one year
•  Fitch: Nigeria's Oil Response Has Downside Fiscal, Growth Risks

Tanzania

•  CRDB profit balloons 46pc in 2015
•  CRDB profit balloons 46pc in 2015
•  CRDB profit balloons 46pc in 2015
•  Tanesco entities after restructuring to go public
•  Treasury bills oversubscribed
•  Treasury bills oversubscribed
•  Tanzania growth to pick up in 2016, budget spending to rise
•  Tanzania plans to cut deficit but raise spending in 2016/17
•  Shilling makes little gains against dollar

Zambia

•  Zambia hikes electricity prices for mining companies - sources
•  Low dollar inflows pose risk to Kwacha
•  Zambia's central bank cuts tender sizes for government securities
•  Zambia resumes issuance of new mining licences suspended in August

Zimbabwe

•  TSL post profit despite deflationary pressures
•  Low rains hamper cotton volumes
•  CFI suspended from ZSE over non-publication of financials, closed period trade
•  Zimplats posts Q2 loss of $1,7mln on weak prices
•  Kariba Power Station expansion 39% complete
•  IMF, WB to assist Zim in reviving economy
•  Zimplats slumps to $1,8m loss
•  Murowa to double diamond production
•  $1,5 bn lost on Zimbabwe Stock Exchange
•  Zimbabwe Seeks to Restore Donor Relations to Obtain Loans
•  World Bank sees Zimbabwe 2016 growth at 1.5 pct, deflation to persist
•  Zimbabwe says foreigners can buy stakes of up to 49 pct in local firms
•  RBZ moves on illicit financial flows
•  RBZ to account for all Marange diamond export proceed