Weekly African Footprint: July 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 central bank keeps pound stable at regular dollar auction on Tuesday
•  Egypt says close to securing 3-year IMF loan programme
•  Egypt expects to get at least $2bln within 2 months of agreeing IMF loan
•  Egypt central bank keeps key interest rates unchanged

Ghana

•  Ghana lowers estimate for 2016 oil revenues, deficit unaffected
•  Ghana likely to re-engage IMF deal over BoG deficit financing

Kenya

•  Kenya's Safaricom to pay special dividend of 0.68 shillings
•  Reprieve as NIC re-opens Imperial Bank
•  Chase Bank Could Get New Investors After Due Diligence, KCB Says
•  EABL’s net profit hits Sh10bn despite sharp dip in Tusker sales
•  Kenya central bank holds main lending rate at 10.50 pct
•  Kenya eyes lower spending in 2017/18 fiscal year
•  CBK proposes three-year limit for bank auditors to boost governance
•  Kenya overtakes SA as biggest investor in African countries

Malawi

•  Malawi's June inflation quickens to 22.6 percent

Mauritius

•  Mauritius exporters see Brexit crimping textile export earnings to UK by 10 pct

Nigeria

•  AfreximBank grows loan to $6.1b, NPLs fall to 2.8%
•  AshakaCem Signs N11bn Contract for 16MW Power Plant
•  GSK declares 60 kobo special dividend to shareholders
•  Dangote Signals Slower Pace of African Cement Expansion
•  Diamond Bank Posts Half-year Profit Drop
•  Investors Trade N49trn Fixed Income Securities in Six Months
•  Stock market investors gain N1.461tn in three months
•  Nigeria's central bank raises benchmark rate to 14 percent
•  Nigeria, Iran to forge trade ties
•  Naira Appreciates to N322.85/$1 on Interbank Market

Tanzania

•  NMB wins Euromoney award again
•  NMB posts strong financial results
•  Vodacom not keen to list on DSE
•  Tanzania’s monetary policy effective in managing liquidity

Zambia

•  BoZ talks positive economic growth
•  Treasury bills under-subscribed

Zimbabwe

•  PG narrows loss position to $3,9mln in FY15
•  BAT to engage govt on excise duty
•  Olivine says to engage OFAC on sanctions after IDC divests, invests $2,7mln in new soap plant
•  Blanket Mine says gold resources up 67 percent following exploration
•  StarAfrica FY loss widens
•  Zim shifts to cashless society
•  ZSE records lowest turnover in 7 years

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