Weekly African Footprint: January 27, 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

•  Yields on Egyptian T-bills mixed at weekly auction
•  Egypt committed to repaying $3.5 bln to foreign oil firms: petroleum minister
•  Mining firms see little appeal in Egypt's gold exploration terms

Ghana

•  Ghana's new government says it will review $918 million IMF deal
•  Ghana’s debt hits Gh¢119.9 bn
•  Ghana May Cut Rate for Second Meeting as Inflation Slows
•  Ghana central bank says supports plan to renegotiate IMF deal
•  Ghana central bank holds main policy rate unchanged at 25.5 pct
•  Producer inflation drops sharply to 4.9 percent in December 2016
•  Producer Price Inflation ends 2016 at 4.9%
•  Ghana to ban production, import of mercury products by 2020
•  Ghana chooses former minister to head cocoa regulator

Kenya

•  Kenya's East African Breweries H1 after-tax profit up slightly
•  Kenya tea output expected to drop 12 pct to 416 mln kgs in 2017
•  Kenyan shilling steady, seen supported by tight liquidity
•  Kenya Banks Face New Row With Lawmakers Over Deposits Plan
•  Kenya cancels sale of 30bln shillings Treasury bond
•  Banks get critical IMF backing in fight against interest rate controls

Mauritius

•  Mauritius Lux Island first-half pretax profit up 16 pct
•  Mauritius trade deficit widens 10.7 pct in November
•  Mauritian Premier Succeeded by Son, Opposition Plans Protest
•  Mauritius 3-year Treasury bond yield falls to 3.15 pct

Nigeria

•  Guinness holds EGM for N40bn rights issue
•  Dangote Refinery, PTI Partner on Human Capital Devt
•  Energy crunch worsens as output drops to 2,200mw
•  CBN Seeks Measures to Tackle Global Shocks
•  Nigeria holds main interest rate at 14 percent
•  Nigeria Sees Oil Hitting Mid-$60s in Coming Months as OPEC Bites
•  GE proposes investing in Nigeria's ailing oil refineries
•  Nigeria’s Outlook Downgraded by Fitch Due to Dollar Shortages
•  Nigeria's woes won't deter investors from buying dollar bonds
•  Nigeria court orders temporary transfer of Shell, Eni oilfield
•  Manufacturers seek 5% concessionary interest rate

Tanzania

•  Dar, Ankara eye 2tri/- trade volume
•  Dar seeks 2tri/- development funding from World Bank
•  Tanzania opening $290 million bus network in commercial capital
•  World Bank approves $225m loan for Tanzania's water sector

Zambia

•  Insufficient funds delay projects approval
•  Agribusiness to get $40M World Bank Support Fund

Zimbabwe

•  Cottco gives farmers inputs
•  CFI revenue down 56 percent
•  Old Mutual plans to turn commercial properties into residential flats
•  ZARNet to buy back Telecel in three years
•  National Food operating at full capacity
•  Gold Leaf to set up manufacturing plant in Zimbabwe
•  Unki Q4 production up 7pct to 19,900 oz
•  RioZim says to pay $8mln for Dalny, deal to raise gold output by 100kg per month
•  CBZ sets up insurance broking unit
•  Border Timbers to recover fully, creditors to be paid over 8 years says judicial manager
•  Government mulls scrapping royalties on gold
•  Regional body says to set universal mobile data tariffs by 2019
•  Trade deficit with SA narrows to $98m in 2016
•  Forex situation dire as RBZ gives firms $370m in 5 month
•  CDC to migrate to T+3 settlement
•  Zim has only $300mln in circulation, govt advisor urges rand adoption

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