Weekly African Footprint: July 22, 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 Sees Power Exports as Failed Coal-Plant Lessons Learned

Egypt

•  Kuwaiti's Zain interested in Egypt 4G licence -ministry official
•  Egypt's GASC draws offers from 12 trading firms in wheat tender
•  Egyptian dairy company Domty to invest $27 mln to boost production
•  Barclays begins Egypt sale process, at least 2 interested – sources
•  Egypt's Ezz Steel Q1 net loss widens to $15.4 ml
•  Telecom Egypt in loan talks to fund 4G licence
•  Yields rise at Egypt T-bill auction

Ghana

•  Ghana-China Trade hits 6.6 billion dollars
•  GSE intensifies moves to get capital gains tax removed
•  Ghana Increases 2016 Growth Forecast After Earlier ‘Mistake’
•  Ghana's central bank holds benchmark policy rate at 26.0 pct
•  Ghana’s debt rises to GHC105bn
•  Bank of Ghana allows banks to lend above permitted ceiling
•  Low crude prices dim hopes for big revenue boost from new Ghana oilfield
•  Ghana accepts 5-year domestic bond worth over $200m
•  Cedi will remain strong - Bank of Ghana
•  Ghana parliament body rejects key central bank reform bill

Kenya

•  KQ extends record after tax loss to Sh26.2bn
•  KCB gets Sh1.5bn lift as shareholders forego cash dividend payout
•  Kenya May Ink EU Trade Deal Alone as Brexit Spooks Neighbors
•  Kenyan shilling steady, helped by inflows from manufacturing firms
•  Kenyan shilling seen on the back foot, pressured by end-month demand
•  Kenyan shilling firm as traders eye rate decision on Monday

Mauritius

•  Mauritius Cuts Rates by Biggest Margin Since 2012 on Brexit
•  Mauritius' trade deficit widens 22.1 percent in May

Nigeria

•  ExxonMobil declares force majeure on Nigeria'sQua Iboe crude oil
•  GTB, Access Bank seek more time to submit results
•  Oando to report lower earnings in 2016 Q2
•  Unilever Nigeria Records N1.1Billion in First Half of 2016
•  Ecobank, BoI Sign Deal on Financial Inclusion
•  Lafarge posts N30bn loss in six months
•  Wema Bank Posts Positive Half-year Results
•  Ecobank Lends Support to Sustainability Initiatives
•  N190b debit for T-Bills auction sustains interbank’s high lending rates
•  Nigerian inflation rose to 16.5 percent in June: statistics office
•  IMF predicts Nigeria's economy will contract by 1.8 pct in 2016
•  Nigeria Sterling Bank ends talks to buy Keystone Bank, plans bond issue
•  Manufacturers record loss in 2015
•  CBN must protect new forex policy
•  Nigeria's budget minister expects economic growth by end of year
•  Nigeria naira hits record low of 309 against dollar
•  Nigeria central bank grants loan to Skye Bank after capital problems
•  CBN to Fund $697m Forward Contracts Friday, Naira Pressure to Ease

Tanzania

•  NMB shares rally after bond listing
•  TCCIA plans listing on DSE
•  T-bills auction fails to impress investors
•  DSE shows signs of recovery
•  Tanzania gets $7.6bln loan from China's Exim Bank for railway
•  IMF tells Tanzania to curb public spending, urges reforms
•  Treasury bonds sales go down
•  Foreign reserves are sufficient - BoT

Zambia

•  Indo Zambia pumps over K1bn into economy
•  Stanchart invests USD 1.5bn in digital banking

Zimbabwe

•  CFI revenue drops 45pct in 8 months
•  Ariston shareholder seeks to raise stake
•  Unki Mine platinum production up 12 percent in Q2
•  Five suitors eye Zisco
•  Innscor CEO leaves less than two years into term
•  June inflation up marginally to – 1,37 percent
•  Securities Commission proposes listing all miners to improve transparency
•  Zimbabwe Says It’s on Course to Clear $1.8 Billion Loan Arrears
•  Zimbabwe in talks with Afreximbank, German printers over bond notes
•  RBZ projects slower growth
•  Zimbabwe regulator turns down power tariff hike request

contacts
  • Bermuda +1 441 278 7620
  • South Africa +27 11 268 5833

© Securities Africa             Licensed to conduct Investment Business by the Bermuda Monetary Authority

   Terms and Conditions