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's Eastern Co raises cigarette prices on higher import costs
• Egypt's finance minister expects monthly inflation rate to stabilize within 4 months
• Egypt's central bank says $57 bln cash flow into banks in 8 months - al Akhbar
• Average yields on Egypt's three- and nine-month T-bills jumps
• Egypt's core inflation increases to 31.95 pct yr/yr in June
• Egypt expects to receive second IMF loan disbursal within coming week -CBC
• Egypt to halt flour subsidy and cut wheat imports by up to 10 pct
• Asante Gold to start drilling in July
• Daily minimum wage goes up by 10%
• Ghana inflation slows to 12.1 pct in June on lower food, petroleum prices
• Ghana seeks Swiss support to process more cocoa
• Safaricom goes for photo IDs to block M-Pesa fraud
• StanChart branch closures signal more bank job losses
• Equity gets credit profile boost after agency upgrades its rating
• Nakumatt financial woes hit Gold Crown tea sales
• Shilling slides to six-month low on high dollar demand
• Kenya central bank intervenes in forex market to support shilling
• Malawi's inflation slows to 11.3 percent in June
• Mobil: NIPCO Receives SEC’s Approval to Extend Mandatory Takeover Bid
• Etisalat begins exit from Nigeria
• Etisalat Nigeria's new CEO targets profit after regulator rescue
• Nigeria's Aliko Dangote to Invest $4.6 Billion in Agriculture
• Flour Mills posts N9.8bn profit after tax
• Insurer Prudential enters Nigeria via insurance buy, Zenith Bank deal
• Equities’ fortunes to remain mixed pending Q2 results announcement
• MFBs Seek Improved Disbursement of N220bn MSME Fund
• Nigerian oil minister unable to attend Russia meeting -Kuwait minister
• Increased Demand for Banking Stocks Lifts Index by 0.48%
• Nigeria "cannot borrow anymore", says finance minister
• Nigeria sees debt service of $483.4 mln on foreign loans in 10 years: DMO
• Nigeria Signals Willingness to Agree on Oil Production Cap
• Nigeria plans issue of 10-year note of $8.9 bln to offset debts
• Nigeria to put off deciding whether to join OPEC cuts, minister says
• Lagos to Raise N100bn via Bond for Infrastructure Financing
• Nigerian banks seek Etisalat Nigeria cash flow clarity before results
• Tanzania's president signs new mining bills into law
• Tanzania's inflation slows to 5.4 pct in June
• Choppies to open 9 more outlets
• Airtel e-commerce platform in $50 million investment
• Kwacha weakens against dollar
• Zambia says emergency rule may end early if sabotage stops
• Steward Bank suspends pay-TV payments over forex shortages
• Turnall still to find investor
• Econet to embark on major data network upgrade
• BNC’s smelter restart and fortunes rely on fickle nickel prices
• Zimre’s Stalap makes a mandatory offer to CFI minorities at 22 cents per share
• Masawara recovers to $58k FY16 profit
• Zimbabwe maize subsidy adds $118 million to mounting debt
• Zimbabwe yet to reach deal over arrears with foreign lenders: IMF
• Bond notes discount will propel inflation: IMF
• Loss-making Air Zimbabwe cuts half its workforce
• Zimbabwe wants more bureaux de change, slashes registration fees
• Mobile banking transactions hit $800mln in April as cash shortages bite
• Zimbabwe c/bank wants higher inflation, more bond notes
• Zimra collects $1.7bln in H1, surpasses target
• Zimbabwe tourist arrivals up 6pct in Q1
• Tobacco sales and exports fall – TIMB