Weekly African Footprint: January 22, 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.


Egypt

•  Egypt's Pharos Holding plans to double assets under management
•  Egyptian pound steady at forex sale, on black market
•  Egypt gets $1.5 bln FDI in Q1 of 2015/16, sees more later in year: Minister
•  Egypt tourism receipts down 15% in 2015 on back of security, currency woes
•  China, Egypt sign financing deals worth at least $1.7 bln

Ghana

•  Tullow optimistic of weathering oil price storm
•  Inflation rate now at 17.7%
•  BoG confident about halting cedi fall
•  Stock exchange to list itself
•  Ghana's growth to rebound in 2016 - IMF

Kenya

•  Airtel cuts staff in reforms
•  Court clears KenGen units supply deal
•  Kenya's new car sales jump 12.86 pct in 2015: industry body
•  Taxes may rise as govt seeks funding for infrastructure projects, analysts say
•  CBK seeks to inject Sh5bn into market
•  Kenya central bank holds benchmark lending rate at 11.5 pct
•  Kenyan shilling steady after c.bank rate hold, shares fall

Nigeria

•  MTN Results Show Telco Will Struggle to Pay N1.04tn Fine
•  Skye Bank to raise fresh capital in 2016 first quarter
•  FCMB Anticipates Lower Profit for Third Quarter of 2015
•  Nigeria's Buhari requests withdrawal of 2016 budget to make changes - sources
•  Nigerian banks allow foreign currency transfers as FX restrictions ease
•  Nigerian inflation edges up to 9.6 pct in December
•  Nigeria stocks fall 4.1 pct to 3 1/2-year low on sell-off by investors
•  Crude flows to two Nigerian refineries shut after attacks: NNPC
•  Nigerian minister says $6.8 bn of public funds stolen in seven years
•  Nigeria to enforce stamp duties law on financial transactions: cenbank
•  Stocks Decline: FG May Summon Stakeholders Meeting
•  CBN blames declining non-oil revenue on low export loans
•  Nigeria plans up to $5 bln borrowing from sources including Eurobonds: finance minister
•  Nigeria will have to devalue in 2016: S&P

Tanzania

•  Stanbic fined over improper deal
•  NMB, partners to provide loans to farmers
•  Acacia Mining forecasts higher gold output
•  Treasury bills oversubscribed as liquidity squeeze eases
•  Cotton yield likely to fall this year
•  DSE market cap down 4pc
•  BoT forex dealings generate 100bn/-
•  Govt pledges maximum cooperation to investors
•  Zanzibar exports fall

Zambia

•  Power outages 'choke' Airtel
•  Zambia Sugar to export over 50,000tn of sugar to GLR
•  Dangote takes Ikulile Enterprises to court over partnership claim
•  Zambia's trade value deficit swells'
•  Treasury bill expected to support Kwacha
•  Zambia maize harvest to drop by a third - farmers
•  Zambia's kwacha weakens on low dollar supply
•  Zambia's biggest challenge is fiscal indiscipline - IMF
•  Power shortages cut Lusaka Water's revenues by 30%

Zimbabwe

•  Innscor spin-off Simbisa plans $7mln capex in 2016
•  GetBucks debuts on ZSE
•  SABMiller's Zimbabwe unit says lager volumes fell in third quarter
•  Innscor disposes stake in Spar Corporate
•  RioZim gets shareholder approval for Zamco deal
•  Zimbabwe consumer prices edge down 2.47 percent in December
•  Liquidated banks' account holders to be compensated
•  'Ebola, tax spur 20% tourism arrivals drop'
•  Zimbabwe mining firms, farmers oppose 42 pct power tariff hike
•  Zimbabwe tobacco exports up on China demand, drought dims outlook
•  EIB aims to invest in financial sector
•  Tobacco ban to negatively affect the economy

contacts
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