Weekly African Footprint: March 13 2014

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 Construction may rise on listing in Dubai
•  Alexandria National Co plans to sell part of long term investments
•  Heliopolis Housing says still looking into rights issue
•  Univert turns to profit in 2014; posts LE1.5 m
•  Telecom Egypt reports drop in 2014 net profit
•  Egypt's Talaat Mostafa posts 2014 profit, revenue rise
•  Cairo Development shareholders approve all resolutions in OGM
•  Egypt's Orascom Telecom net profit plummets 76.4% in 2014
•  Egypt's Mobinil sees return to profit by end-2016 CEO
•  Pioneers Holdings says confident rights issue to be covered by investors
•  Telecom Egypt to invest $450 mln in 2015: CEO
•  Siemens to supply four turbines for Egypt power plant
•  Egypt's CIB eyeing Citigroup's retail operations
•  Egyptian Financial and Industrial profits up to LE96 m in 2014
•  GB Auto gets regulator approval on LE960 m rights issue
•  Egypt Gas profits fall to LE3.45 m in 2014
•  National Housing swings to loss of LE4.47 million
•  EGX approves Edita listing
•  GE delivers 34 turbines to Egypt, to invest $200 mln
•  Egypt sets price for shale gas at $5.45 per mmBtu
•  Egypt extends bidding for 10 oil blocks by 2 months: state firm
•  Egypt urban consumer inflation to 10.6 pct in February
•  Egypt's annual core and urban inflation rates rise in February

Ghana

•  GT Bank sues Auto Parts Ltd for loan default
•  Ghana state oil company close to signing $700 mln loan
•  SIC Insurance optimistic about the future
•  Ghana to Probably Keep Budget-Gap Target by Cutting Spending
•  Ghana consumer inflation rises to 16.5 pct in February
•  Ghana Cedi Weakens to Six-Month Low Before Budget Review
•  Ghana slashes 2015 oil revenue forecast on lower prices

Kenya

•  Kenya's Equity Bank posts 18 pct rise in 2014 pretax profit
•  Kenya's Diamond Trust Bank 2014 pretax profit up 18 pct on strong loan book
•  Centum explores Sh8bn bond option in expansion plan
•  Kenya's CIC Insurance 2014 pretax profit down 17 pct on higher payouts
•  Manufacturing industry slowing down growth, notes World Bank
•  Kenya signs power line deals to link western area, neighbours
•  Cheaper power boosts Kenyas private sector

Nigeria

•  Shell has no timeline for Nigeria oil well restart after leak
•  Oando hits first oil in Qua Iboe, increases output by 2,150 bpd
•  MTN to spend $2.5bn on infrastructure upgrades
•  Jonathan Promises to List MTN on Nigeria's Stock Exchange
•  Retailers Hit by Naira Devaluation
•  CBN to Issue N730bn Treasury Bills in Second Quarter
•  External reserves fall by $3bn in four weeks
•  CBN, AMCON, others lose bid to stop suit against Bank PHBs nationalisation
•  Nigeria's Foreign Trade Drops Further to N5.74trn in Q4
•  Nigeria's parliament agrees on $53 oil price for 2015 budget

Tanzania

•  Tanzania's year-on-year inflation edges up to 4.2 pct in Feb
•  Tanzania in talks with China on funding for wind farm

Zambia

•  AFDB approves USD 3m to MFINANCE
•  Zambia's kwacha eases 1 pct, Lungu's health concerns weigh
•  Zambia to triple petrol supply to ease shortage in capital

Zimbabwe

•  MBCA profit up 33%
•  SABMiller Africa touts Chibuku Super to grow revenue
•  First Mutual to merge two units
•  Zimbabwe to Shut Down Global Telecom Unit Telecel Over License
•  Zimbabwe says to merge all diamond mines under one company
•  NicozDiamond records slump in profit
•  New tobacco regulations could disadvantage growers
•  Zimbabwe crafts debt repayment plan
•  Tobacco sales decline 17%
•  IMF sees Zimbabwe economy weakening further in 2015
•  Zim meets IMF targets
•  RBZ tightens screws on illicit money movements
•  Zim, US trade soars despite sanctions