Weekly African Footprint: February 26, 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 Central Bank Sees Benign Inflation Supporting Lending

Egypt

•  Egypt's Midor signs $1.2 billion loan agreement
•  OTMT asks Beltone subsidiary to complete purchase of CI Capital
•  Egypt signs $500 mln facility agreement with Afreximbank to ease FX shortage
•  Egypt's economic growth slowed to 3% in the three months ending 31 September last year, down from 5.6
•  Egypt hopes to issue international bond by end-June -fin min

Ghana

•  AngloGold says suitors interested in Obuasi asset in Ghana
•  Zenith Ghana's profit dips by GHS54.3m
•  Ghana must add power capacity rapidly to meet demand growth
•  Ghana's president says he'll keep tight grip on spending before election

Kenya

•  Kenya's Mumias Sugar says posts H1 pretax loss of 2.26 bln shillings
•  Higher lending boosts Kenya's HF Group's 2015 profit by a quarter
•  Power distributor Kenya Power says H1 pretax profit down 17 pct
•  Kenya's Portland Cement issues profit warning
•  Kenya's remittances rise 8.4 pct in 2015 to record $1.54 billion
•  CBK accuses banks of seeing one side of the coin on credit ratings
•  Kenya's Tourism Industry Receives Boost From Neighboring Nations

Mauritius

•  Mauritius says trade deficit to widen 2.7 pct in 2016
•  Mauritius sees tourism earnings rising 8 pct in 2016

Nigeria

•  Forte Oil Shareholders to Receive N3.45 Dividend in April
•  StandChart Sponsors Guinness Nigeria's N10bn Commercial Paper
•  Seven Energy Secures $100 Million Additional Equity Capital
•  Credit to Private Sector Rises to N18.719tr
•  Nigeria naira firms on parallel market after president rejects devaluation
•  Nigeria's revenues in January fall to 370.388 bln naira: finance ministry

Tanzania

•  CRDB Bank's Burundi unit posts first time 1.1bn/- profit
•  NMB widens footprint, opens 175th branch
•  TOL share price reaches all time high
•  5-year govt bond fails to impress
•  Govt welcomes Tanzania, Mauritius trade ties
•  T-bills appetite high
•  African Development Bank approves $1.1 billion in loans to Tanzania

Zambia

•  CEC tops LuSE revenue chart
•  Zambia mines say new price-based royalty to boost investment
•  Zambia 2016 budget deficit seen at 8.1 percent of GDP
•  Zambia electricity deficit rises to 1,000 MW: energy minister

Zimbabwe

•  ZimAlloys seeks $5m to revive smelter
•  Simbisa Brands employment costs rise
•  Hwange Colliery restated accounts show H1 losses at $44mln
•  Hwange Colliery to finalise salary, allowances cuts
•  RioZim's Murowa says not part of Zimbabwe's diamond mine nationalisation plan
•  Cafca issues profit warning as turnover tumbles
•  CBZ after-tax profit up 7pct, debt write-off surges
•  Zim to import electricity from Zambia
•  Govt paying off Telecel shareholding balance
•  ZSE in marginal rebound
•  Zimbabwe orders diamond mines shut, says not nationalizing
•  IMF reviews Zimbabwe economy, eyes first new financing since 1999

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