Weekly African Footprint: March 11, 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 Orascom TMT lends Beltone 1 bln pounds to acquire CI Capital
•  Telecom Egypt net profit jumps 111 pct after tax changes
•  Egypt's Suez Cement says profit transfers hit by currency crisis
•  Telecom Egypt to issue dividend of 75 piasters per share for 2015
•  Egypt central bank keeps pound stable at forex auction - bankers
•  Egypt's treasury bond yields jump in Monday's auction
•  National Bank of Egypt raises rates on dollar certificates of deposit
•  Egypt's central bank removes forex caps for importers of essential products
•  Egypt's annual urban consumer price inflation eased to 9.1 pct in Feb

Ghana

•  Ghana consumer inflation slows to 18.5 pct in February
•  Ghana Central Bank to End Collection of Gold, Cocoa Revenues

Kenya

•  Barclays Bank Kenya says pretax profit down 2 pct in 2015
•  TransCentury Kenya Faces Threat of Default, Regulator Says
•  Kenya's Equity Bank group says 2015 pretax profit up 7 pct
•  Uchumi urges review of SME supply terms
•  Kenya's Diamond Trust Bank sees 2015 pretax profit rise 12 pct
•  Kenya Airways Plans $690 Million Reorganization, Job Cuts
•  Rising sales lift Kenya's Bamburi Cement 2015 pretax profit
•  Deepening forex reserves to ease pressure on CBK
•  Kenya signs $408 mln loan with Japan for 140 MW geothermal plant

Mauritius

•  Mauritius inflation at -0.5 pct in year to February

Nigeria

•  Dangote plans to generate 12,000MW of electricity
•  Skye Bank seeks more investment in manufacturing
•  Barclays Africa Targets Expansion in Nigeria
•  African telecom towers firm IHS to buy Nigerian rival
•  Nigeria's president rejects IMF calls to lift FX curbs, end naira freeze
•  FG Proposes N39.41bn for Vehicles in 2016 Budget
•  Nigeria aims to end refined petroleum imports within 18 months
•  Nigeria's GDP Slows to 2.11% in Fourth Quarter as Oil Sector Contracts
•  Moody's Places Nigeria's Ba3 Rating on Review for Downgrade
•  Nigerian state oil company workers strike over proposed changes
•  Nigerian policymaker advised central bank to devalue naira
•  CBN to borrow N1.07tn via treasury bills in Q2

Tanzania

•  NMB agency network keeps growing
•  NMB pledges to open more business clubs
•  Acacia pays corporate tax
•  Exim Bank extends wings to Uganda
•  CRDB controls half of agent banking business
•  FDI on textile sector set to rise
•  Tanzania inflation at 5.6 pct in year to February

Zambia

•  BoZ tender for treasury bills undersubscribed
•  Zambia's 2016 maize harvest seen lower due to poor rainfall

Zimbabwe

•  Meikles turnover 12% higher at USD 347m for 9 months, says deal agreed over government debt
•  RioZim emerges from its death bed
•  Mutare Bottling starts sugar imports, says local producers failed to meet demand
•  Govt works on Zisco debt Bill
•  Econet launches home security service
•  Truworths revenue up 7 percent
•  Innscor H1 profits up 23pct, seeks to dispose of tourism unit Shearwater
•  Zimbabwe platinum output forecast to increase 12 percent in F16
•  Tobacco exports reach $208m
•  Zimbabwe's Mugabe supports engagement with IMF
•  Zimbabwe pledges to cut spending during IMF visit
•  Zimbabwe needs up to 8 pct annual growth in next decade to revamp economy
•  Government to push for fresh lines of credit

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