Weekly African Footprint: February 27 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

•  Botswana Seeks Bids to Convert 90-Megawatt Diesel Plant to Gas

Egypt

•  Egypt considers listing Food Industries Holding Company: minister
•  Egypt's Qalaa Holdings approves 1.7 bln Egyptian pound capital hike
•  Cairo Poultry calls for extraordinary meeting on 2-for-1 stock split on March 19
•  Ascom submits documents on LE150 m rights issue
•  Egypt's Global Telecom says 2014 losses narrowed by 84 percent
•  ICMI gets regulator's nod on LE6.4 m rights issue
•  Egypt to auction 8 oil and gas blocks in Mediterranean: ministry
•  Egypt aims to halt gas imports in 2020
•  Egyptian oil ministry considers listing its companies in 2015
•  Egypt banks saw cash inflows of over $400 mln in a week: CBE governor
•  Foreign direct investment in Egypt rose by 7.9% to $4.1 billion in 2014: Minister
•  Egypts central bank keeps interest rates unchanged
•  Egypt's pound steady at CBE auction, weaker in black market
•  Egypt headed for strongest growth since uprising: Minister

Ghana

•  AngloGold falls into loss in Q4 as Ghana restructuring weighs
•  SEC to compel multinationals list on stock exchange
•  IMF says agrees 3-year deal with Ghana worth around $930 million

Kenya

•  Kenya's Uchumi sinks into red but confident of east Africa expansion
•  KCB net profit up 17.4pc on higher interest, income
•  Kenya's BAT says FY 2104 pretax profit up 11 pct
•  Kenya's KenGen says seeks lead broker for rights issue
•  Kenya's Unga Group half-year profit rises 59 pct
•  Proposed law caps county borrowing at 20pc revenue
•  Dividend drought looms as 12 firms in profit warning
•  Kenyan shilling steady, seen under pressure
•  Kenya to start work on new northern seaport: President
•  Kenyas debt burden may double
•  Treasury shifts the capital gains tax burden to investors
•  Kenya's inflation rises to 5.61 pct y/y in February

Nigeria

•  Sterling Bank Partners Group on Capacity Development
•  Power Generation Drops as Seplat Petroleum Shuts Down Oben Gas Plant
•  Heritage Bank Launches Scheme for SMEs
•  Dangote Flour, Honeywell Lose N2.2bn in Naira Devaluation
•  FCMB Targets 8% Agric Sector Loan in 2015
•  Nestle Declares Final Dividend of N17.50
•  Group Highlights Benefits of Equipment Leasing
•  Fitch Affirms Stanbic IBTCsAAA (nga) Ratings
•  Nigeria's GDP growth slows slightly in Q4 2014 to 5.94 pct
•  Nigeria c.bank sets guidelines for Islamic finance advisory body
•  SECs Rules on Demutualisation Restrict Corporate Raiders
•  CBN, SEC to Collaborate for Stronger Financial Sector Regulation
•  Nigeria's naira weaker on tight dollar liquidity
•  Equities Market Extends Gain on Positive Momentum
•  FG Moves to Bridge $2.4tn Infrastructure Funding Gap
•  Nigeria Proposes Cutting Oil Price Benchmark to $52 a Barrel
•  Nigeria Suffers Substantial Revenue Loss as Oil Prices Fall

Tanzania

•  Shilling eases against dollar on rising demand

Zambia

•  Over 2,000 workers strike at Barrick Gold Zambia copper mine
•  Workers end strike at Zambia's Barrick Gold copper mine
•  Vedanta says Zambia VAT breakthrough to boost copper output
•  Madison General Insurance listing will energise subsidiaries MD
•  Real Estate Investments Zambia profits drop
•  First Quantum Minerals moots new dividend growth plan
•  Zambia Streamlines Mine-Tax Refunds as Lungu Vows to Guard Jobs
•  LuSE records increased foreign participation
•  Zambia February inflation slows to 7.4 pct y/y

Zimbabwe

•  Government cancels Telecel licence
•  BAT Zim posts $13m profit
•  Zimbabwe's Hwange Colliery in talks to sell coal to Glencore
•  Zimbabwe Miners Including Rio, Impala Agree to 3% Pay Increase
•  ZSE lifts Meikles suspension
•  Zimbabwe's AfrAsia bank closes after financial distress
•  CBZ Bank earnings down 9 pct on high borrowing costs
•  Zimplats net profit down 88pct on weakening prices, reports refinery progress
•  Metallon sees earnings doubling to $22mln in FY15
•  ZSE invites input for debt listings

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