Weekly African Footprint: January 29, 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 EGAS says BP LNG cargo postponed, denies payment trouble
•  World Bank to loan Cairo $500 mn to develop industrial zones in Upper Egypt
•  World Bank to loan Cairo $500 mn to develop industrial zones in Upper Egypt

Ghana

•  GSE coerces gov't over capital gains tax
•  Germany to assist Ghana develop strong energy sector
•  Bank of Ghana keeps benchmark interest rate at 26 pct

Kenya

•  Imperial Bank owners to pump in Sh10b towards the bank's recovery plan
•  Centum of Kenya Courts More Investors After Old Mutual Deal
•  KenGen of Kenya Secures JICA Loan for Geothermal-Power Plant
•  Kenya's East African Breweries raises H1 dividend by a third
•  Banks surrender Sh1bn unclaimed assets ahead of probe
•  Kenyan shilling steady, seen in a tight range
•  Treasury set to borrow more locally as foreign credit gets expensive
•  IMF extends Kenya's existing credit facility as new one discussed

Nigeria

•  Shell re-opens Nigeria's Trans Niger Pipeline shut since Nov
•  Nigerian minister sees no out-of-court settlement with MTN on fine
•  Seplat Petroleum expects $600 million revenue for 2015
•  Nigeria must "harmonise" monetary and fiscal policies: finance minister
•  Nigeria considering tax changes to ease economic crisis: vice president
•  Naira depreciates to N303/$ as dollar scarcity intensifies
•  Nigeria government revenues rise 5.6 pct in December: finance ministry
•  Nigeria central bank keeps benchmark interest rate at 11 pct: governor
•  Nigeria's Buhari Rejects Devaluation, `Won't Kill' the Naira

Tanzania

•  Williamson diamonds sales down 18pc
•  NMB Q4 profit raises 10pc
•  Shilling feared to weaken further
•  Treasury bond undersubscribed
•  Poor awareness limits insurance coverage
•  Govt outlines plans to boost industrial drive
•  DSE boss touts use of infrastructure bonds
•  Tanzania finalises land deal for delayed LNG project

Zambia

•  UK firm buys Professional Life Assurance
•  Zambia's Kariba hydropower output drops to 25 pct of capacity
•  Zambia's 2015 copper output up despite power woes, weak prices
•  Treasury bills auction undersubscribed

Zimbabwe

•  " Innscor unbundles unit
•  " PPC Zimbabwe Q3 cement sales decline on reduced construction activity
•  " Mimosa PGM output down 5pct as revenue falls on weakening prices
•  " Zimbabwe gets $200 mln Afreximbank loan to import maize: c.bank governor
•  " FDI inflows to surpass $1 billion in 2016
•  " Weaker rand affecting Zim, South Africa trade
•  " Zesa needs $458m to buy coal
•  " Zimra fails to meet targeted revenue collection
•  " Weak prices threaten Zimbabwe's mining industry - Chamber
•  " Zim trade deficit flat at $3,3bln in 2015 - Zimstat
•  " Zimbabwe's 2015 Mines Revenue Falls as Coal, Chrome Output Drop
•  Moody's says yuan use may benefit Zimbabwe, sees limitations

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