Weekly African Footprint: February 24, 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

•  Egypt's Suez Canal revenues fall to $395.2 million in January: website
•  Egyptian pound strengthens on weaker dollar demand from importers

Ghana

•  Unilever pledges to support government
•  Ghana 91-day bill yield rises to 15.9621 pct
•  Ghana cocoa buyers say Cocobod financing delays hindering purchases
•  Ghana producer inflation falls to 3.1 pct in January
•  SEC to set higher standards for securities industry

Kenya

•  Equity to roll out agency banking in Zanzibar expansion plan
•  KQ seeks approval to discuss prices with Precision Air
•  Kenya's KCB Group says cutting some jobs after review
•  Vodafone's Safaricom faces break-up call from Kenyan lawmaker
•  Bad loans, rate cap cuts Barclays Bank of Kenya's 2016 profit
•  BAT’s profit falls 15pc to Sh4.2bn on higher sin tax
•  Troubled Portland Cement in Sh248m six months after tax loss
•  ARM Cement says to boost its Kenya plant capacity in next 12-14 months
•  Kenya's Stanbic Holdings 2016 pretax profit drops, impairment costs up
•  Calls from rivals for higher charges by Safaricom rejected
•  Kenya Said to Be Near $800 Million Loan With Citibank, StanChart
•  Kenya to allow millers to import 5 mln bags of yellow maize due to drought
•  Tea price drops reversing last week's gain

Mauritius

•  Mauritian central bank holds key repo rate at 4.0 pct

Nigeria

•  Nigeria urges MTN to list on its stock market
•  NB Plc Records 25% Profit Decline, Recommends N20bn Final Dividend
•  Transcorp Hotels Posts Marginal Increase in Profit After Tax
•  Transcorp proposes 40 kobo per share as dividend payout to shareholders
•  Nigeria tests waters for possible broad naira devaluation
•  Nigeria's central bank to supply FX to retail clients at 20 pct above interbank rate
•  Nigeria steps nearer to devaluation with central bank dollar sale
•  Nigeria says sees no need to go to IMF, plans its own reforms
•  Nigeria revenues for state and local govts up 16 pct in January
•  Nigerian senate aims for March final reading of oil governance bill
•  Nigeria to seek World Bank loan of at least $1 bln: finance minister
•  Nigeria to sell $500 mln after cutting FX rate for consumers
•  Nigeria seeks new $500mln Eurobond sale to fund budget deficit
•  Nigeria's new FX rules sow confusion for investors and traders
•  IMF urges Nigeria to implement 'coherent and credible' economic policies -spokesman
•  Nigeria's oil output up to 2.2 mln bpd: finance minister
•  Risk of Nigeria devaluing naira rising, but it won't float freely
•  N1.85tn non-performing loans eroding confidence in banking sector – NDIC

Tanzania

•  TRA revenue collection declines in January
•  Cotton, tobacco, cashew lift exports in Dec
•  Tanzania’s 2016 current account deficit narrows 49 pct

Zambia

•  DBZ to sign $75m loan deal
•  BoZ attracts K1.4bn in bids
•  World Bank sees Zambia economic growth at 4 percent in 2017
•  Kwacha on right path
•  Zambia exports leather to China
•  Zambia's central bank sees 2017 GDP growth at 3.9 percent
•  Zambia's inflation slows to 6.8 percent in February
•  Govt securities lure investors

Zimbabwe

•  Nampak’s Zimbabwe unit says profitable despite 11pct drop in Q1 earnings
•  Hwange Colliery says new concessions to drive growth, to resume underground mining
•  Metallon FY16 production falls, targets 115,000oz in 2017
•  BAT after-tax profit down 45 pct on weak sales
•  CBZ profit falls by a third, bank doubles TBs purchases to $766mln
•  AAG wants probe into Simbisa outlets
•  Zamco to stop further acquisition of NPLs
•  Zimbabwe's Mugabe says he is people's choice for 2018 election
•  Foreign investor appetite diminishes on the local bourse
•  Zimbabwe’s trade deficit narrows to $126mln in January