Weekly African Footprint: June 17, 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 inflation unchanged at 2.8 percent year/year in May

Egypt

•  Botswana inflation unchanged at 2.8 percent year/year in May
•  Egypt's strategic stock of sugar enough for a year -supplies minister
•  Egypt to end local wheat buying on Wednesday
•  Egypt c.bank raises key interest rates by 100 basis points
•  Unorthodox' agriculture policies to cost Egypt $860 mln: USDA

Ghana

•  May inflation hits 18.9%

Kenya

•  Privately-held Kenyan firm says plans to buy 23 pct stake in Britam
•  Telkom Kenya to receive Sh12bn from Treasury
•  EABL's distributor gets order barring brewer from picking replacement
•  Imperial Bank directors win reprieve after court halts Sh2bn bond probe
•  Five airlines express interest in buying majority stake in KQ
•  EABL's distributor gets order barring brewer from picking replacement
•  Kenyan Bank Crisis Pushes Money Toward Government-Debt Haven
•  World Bank to loan Kenya $1.1bln for northern region, bank VP says
•  Kenya raises retail prices of fuel
•  Costly maize in Tanzania, Uganda sparks increase in flour price in Kenya

Nigeria

•  Costly maize in Tanzania, Uganda sparks increase in flour price in Kenya
•  ETI targets 7.5 per cent NPL ratio in 2016
•  MTN to more than double spending in Nigeria this fiscal year
•  Nigeria Central Bank Said to Weigh Dual Exchange-Rate System
•  Nigeria's annual inflation rises to above six-year high of 15.6 percent in May
•  Nigeria to announce flexible currency regime on Wednesday
•  Nigeria to abandon fixed exchange rate in favour of open market trading
•  Nigeria to loan cash-strapped states 90 billion naira, finance minister
•  Nigerian central bank "optimistic" naira will settle at 250 per dollar:

Tanzania

•  NMB eyes to double profit, increases dividend to government
•  TBL wins special award for using rice chaff in beer production
•  CRDB plans holding company to oversee subsidiaries after expansion
•  Relief as TPC resumes sugar production
•  Tanzanian stock exchange's IPO oversubscribed nearly five times
•  DCB gives out 1.55bn/- dividend to shareholders
•  Current account deficit expected to narrow
•  Banking sector is sound, stable - BoT
•  Shilling steady despite pressure

Zambia

•  Zambia Sugar commissions K500m refinery plant
•  No dividends for shareholders, says Zambia Sugar
•  World Bank's Zambia solar auction sets African low price benchmark

Zimbabwe

•  FML net profit up 72pct
•  TSL H1 PAT down 64pct to $600k
•  Axia FY16 earnings to improve
•  Cambria Africa narrows loss
•  PPC Zimbabwe H1 cement volumes down 22pct on liquidity crunch
•  NetOne targets 8 million subscribers
•  Van Hoogstraten fights RTG management over NSSA debt restructuring
•  Old Mutual sets up micro-financial institution
•  RBZ slashes bank charges
•  ZSE slides to lowest levels since April 2009
•  Zimbabwe consumer prices fall 1.69 percent y/y in May
•  Kariba power expansion half-way complete, on course for 2018 target
•  Zimbabwe exports 19 percent down in first five months - Zimstat