Weekly African Footprint: March 10, 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.


Botswana

•  Botswana seeks to attract investors to mining town with tax cut
•  At least 17 firms express interest to operate Botswana national airline

Egypt

•  EFG Hermes expects to seal 470 mln pounds deal to buy UK solar assets by June
•  Germany offers Egypt $500 million to support economy
•  Signs Egypt's Economy May Be Recovering as PMI Rises
•  Remittances from Egyptians at $5 bln in three months after currency float -c.bank

Ghana

•  Ghana Mulls Doubling Capacity of Planned Second Oil Refinery
•  Banks register negative growth

Kenya

•  Kenya's Standard Group swings into full year profit in 2016
•  Bidco to invest $200 mln, aims to quadruple Kenya revenue
•  KenolKobil profit up 19.7 per cent on higher sales
•  Markets regulator gets nod to probe auditors of Uchumi
•  KenGen in plans to sell power directly to large consumers
•  Bamburi Cement profit flat at Sh5.89bn on tight competition
•  Kenya says $750 mln syndicated loan plan still on track
•  Kenya central bank: Inflation jump marks no underlying change
•  Treasury to craft tax rules for securities lending and borrowing
•  Tea price defies jump forecast to drop by Sh14 at auction

Nigeria

•  Oando, Conoil Owe PPMC N7.6 Billion – Lawmaker wants subsidy debts cleared
•  Transcorp expresses confidence for improved earnings
•  Dangote Cement drags Nigerian stocks to a more than 10-month low
•  Access Bank Grows Profit to N71.4bn, Pays 40k Final Dividend
•  Shell Nigeria shuts Bonga oil field for at least a month
•  Stanbic IBTC Assures Shareholders on Sustainable Growth
•  Nigeria trade balance turns positive in Q4 as exports jump
•  Nigerian firms expanded in February lifted by new orders: Stanbic PMI
•  Nigeria, Egypt Seek to Boost Trade Ties
•  Nigeria to open up government airports to private investment
•  Nigeria's central bank sells $367 mln of FX forwards
•  Egypt's pound shows Nigeria must overcome its fear of floating free
•  Nigeria sees return to strong growth under recovery plan
•  Nigeria records increase of 6.5 per cent external trade in 2016 – NBS
•  Nigerian regulators meet to try and solve Etisalat loan issue
•  Nigeria stocks at 16-year high in dollar terms on weaker naira
•  FG targets N800bn oil revenue increase in three years

Tanzania

•  Acacia halts gold, copper exports from Tanzania, shares plunge
•  MaxMalipo eyes IPO
•  Vodacom Tanzania says IPO to start on March 9
•  Tanzania central bank cuts its discount rate to 12 pct
•  Shilling down 2.0 pc in two months of this year

Zambia

•  Zambia Risks Corn Storage Overflow on Export Ban, Traders Say
•  Revisit double tax pacts, State told

Zimbabwe

•  ZB to reclaim $5,9m embargoed funds
•  Zimpost eyes $22m revenue in 2017
•  PPC Zim struggling to utilise expanded capacity in sluggish econo
•  Old Mutual reports 20pct jump in Zim profit, frets over bond notes
•  Axia HY profit down 16pct
•  BAT facing new challenges as competitors circle for market share
•  ZimAsset is anchored on effective implementation of PPPs
•  Government issues TBs to settle $181mln NSSA contribution arrears
•  Zim export capacity regressing
•  Zimbabwe finmin revises 2017 economic growth forecast to 3.7 pct: state newspaper
•  Borrowers can pledge shares as collateral, securities depository says

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