Weekly African Footprint: July 08, 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's economy grows 1.8 percent in first quarter

Egypt

•  Egypt's central bank to hold 182-day and 364-day July 10
•  Egypt due for another devaluation in 2016/17, economists say
•  Egypt reduces arrears owed to foreign oil companies to $3.4 bln
•  Egypt's current account deficit at $14 bln in first nine months of 2015/16- Al Ahram
•  After six months, Egypt finally settles wheat fungus row

Ghana

•  BoG announces changes in GoG securities issuing, trading
•  US FDI in Ghana hits $13 billion
•  Ghana IMF deal on track, allaying fears of election overspending

Kenya

•  Equity mulls expansion of Equitel in its East Africa units
•  Kenya Pipeline Considers Eurobond to Fund Expansion Projects
•  NMG signs pact with Invest In Africa to boost small firms
•  CBA partners with Bamburi Cement in mortgage plan
•  Kenya Airways axe hovers over 600 jobs
•  Kenya banks on saccos to lift growth of coffee, cotton
•  Kenyan 182-day, 364-day T-bill yields rise, 91-day yield falls

Mauritius

•  Mauritius year-on-year inflation at 1.1 pct in June - stats office
•  Mauritius sugar revenue to junp by 25 pct, syndicate chief says

Nigeria

•  Oando Returns to Profitability, Reports N4.1bn Profit in Q1
•  Lafarge Africa pays N13.66bn dividends
•  Nigeria replaces Skye Bank bosses over capital failures
•  GSK Shareholders Approve Sale of Drinks Business, Get 60k Special Dividend
•  Oando completes N70.5b downstream business recapitalisation
•  eTranzact Records N471m Profit , Declares 10k Dividend
•  GCR Affirms Union Bank's BBB+ Rating, with Stable Outlook
•  SEC will make Nigerian capital market electronically driven - DG
•  Nigeria's oil minister replaced as state oil company boss
•  New forex policy raises import duty by 43%
•  Stock Market Investors Count Gains Despite Bear Run
•  Nigeria central bank says country's banking industry remains 'strong
•  Nigerian oil trade union begins strike on holiday, warns of delayed effect
•  Nigeria monitoring "one or two" other lenders after Skye Bank's capital problem

Tanzania

•  Bank M Q2 profit up by 43pc
•  CRDB manager arraigned over forgery
•  Dar bourse 35pct green shoe elevation approved
•  Dar stocks earnings down two times in Q2
•  Shilling to remain under pressure in near-term
•  BoT to monitor bureaux de change in real-time

Zambia

•  FQM investments in Zambia hit US$6.1 million
•  ZB makes K318 million ops profit
•  Barclays Zambia spends US$5 billion on project finance
•  Atlas Mara appoints former Standard Chartered Bank executive to head Zambia acquisition
•  Kwacha breaches the K9 mark
•  Citigroup, JPMorgan Favor Zambia's Dollar Debt in Bet on IMF Aid

Zimbabwe

•  Nestlé set to expand regionally
•  Ariston Holdings post $2m loss
•  Forest fires fell Border Timbers revenues
•  Caledonia eyes dividend boon as gold production rises
•  NicozDiamond GPW steady at $13mln in five months
•  Zim explores Tanzania to grow exports
•  Zimbabwe hopes to sign-off deal with multinational lenders in December
•  ZSE projects 4% turnover drop
•  Zimbabweans stage nationwide boycott as economic woes mount
•  Zim close to $1bln Afreximbank loan after Algeria deal falters
•  Govt, industry left counting losses from stayaway

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