Weekly African Footprint: July 21, 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

•  Pioneers Holding says to list 30 pct of Roya stake on Egypt stock market
•  Egypt's EFG HERMES to invest $21.5 mln in asset manager FIM
•  Egypt ordered closure of Ipsos office in Cairo -Manpower Ministry
•  Egypt FDI likely hit $8bln - $8.5bln in fiscal year just ended -minister
•  Foreign participation in Egypt's T-bill auction at $223mln -finance ministry
•  Egypt expects third IMF loan disbursal of $2bln between December and January
•  Egypt sets sights on doubling natural gas output by 2020
•  Egypt's economic growth to pick up slightly this fiscal year

Ghana

•  Ghana's Cocobod may take $200mln extra debt for light crop
•  Ghana president says will not extend three-year IMF aid programme
•  Ghana's Biggest Cocoa Buyer Seeks Guarantee to Cut Finance Costs

Kenya

•  BAT half year profit drops 9.3 per cent
•  Dutch oil marketer Lexo Energy launches in Nairobi
•  No sweet news as sugar prices to remain high for years
•  Kenya Holds Key Rate After GDP Growth Slows, Inflation Persists
•  Chinese get Sh14bn power line contract
•  Drop in Kenya's forex reserves should not cause concern -central bank chief
•  Kenya Bond Rally Fueled by Investors Who Have Run Out of Options
•  Kenya central bank assures public as forex reserves drop
•  Rating agency paints rosy picture for three lenders
•  CBK turns down banks’ request to increase charges
•  Coffee farmers’ earnings rise to Sh630m under Nestlé plan
•  Kenya misses 2016/17 revenue collection target by 9 pct

Mauritius

•  Mauritius trade deficit widens 18.6 pct yr/yr in May

Nigeria

•  Heritage Bank, Firm Seal N232m Deal on Oil Palm Production
•  Holcim to wind up Nigerian company next month
•  Nigeria's Skye Bank says central bank support extended
•  Flour Mills Raises Stake in Rom Oil Mills
•  Telecoms regulator approves Etisalat Nigeria name change
•  Nigeria's Wema bank plans equity raise next year to bolster capital ratio
•  Lafarge Africa Records N19.7bn Profit in Six Months
•  U.S. seeks to recover $144mln in Nigeria oil industry bribery case
•  Nigeria budget, despite being signed into law, still being amended
•  ‘N7tn Spent on Importation of Consumables in 2015’
•  Nigerian annual inflation at 16.10 pct in June -stats office
•  Nigeria Banks Boosting Dollar Spending as Liquidity Improves
•  CBN boosts FX supply with $195m
•  FMDQ lists Nigeria Infrastructure Debt Fund, others
•  Nigeria’s GDP to Hit $3.3 Trillion in 2050, Says PwC

Tanzania

•  New laws to brighten mining sector
•  China invests 5.6tri/, trails India in investment ranking
•  UK-Tanzania investment forum to boost cooperation

Zambia

•  Kwacha continues aggressive trading

Zimbabwe

•  Econet embarks on data network upgrade
•  Unki Q2 production up 10 pct to 19,5oz
•  Zimplow back in the black with $263k H1 profit
•  Ipec approves Allied Bank pension fund liquidation
•  Zimbabwe's agriculture authority to issue $80 million in grain bills to buy maize
•  Zimbabwe's inflation slows to 0.31 percent y/y in June
•  IPO expected on ZSE this year
•  Zimbabwe Capital City Plans $100 Million Housing Bond This Year
•  Zimbabwe budget deficit rose to $1.4 billion in 2016
•  Gold production target reviewed

contacts
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