Weekly African Footprint: March 17, 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's Choppies to spend $55 million on new stores
•  Botswana Feb inflation quickens to 3.4 pct y/y

Egypt

•  Telecom Egypt proposes higher 2016 dividend at 1 EGP/shr: official
•  Average yields fall on Egyptian three and nine-month T-bills
•  Egypt's wheat reserves to double with start of harvest -supply min
•  Egypt's capital set to grow by half a million in 2017
•  IMF delegation to visit Egypt from April 28 to May 8
•  Egypt expects to receive second tranche of the IMF loan in May or June
•  Average yield on Egypt T-bills rise at auction

Ghana

•  MTN to spend $143 million on network expansion in 2017
•  Ghana's 2016/17 cocoa purchases totalled 657,349 tonnes by Feb. 23
•  Ghana February consumer inflation falls to annual 13.2 pct

Kenya

•  Kenya's EABL says to raise 6 bln shillings via medium term note
•  Equity Group’s net profit drops by 4 percent to Sh16.6 billion
•  Co-op Bank posts biggest full-year profit jump among top lenders
•  Uber Kenya hikes fare by 20 percent after driver strikes
•  Kenya's central bank finalising licences for two new banks
•  Kenya to present budget on March 23
•  Kenya to sell 5-year T-bonds 30 bln shillings in March
•  Kenya president says borrowing has fueled economic success
•  Kenya telecoms regulator says has no intention to break up any company
•  Kenya to start exporting oil in June, on trial basis
•  Rate cap hampers Kenya's government debt auctions

Malawi

•  Malawi's inflation slows to 16.1 percent in February

Mauritius

•  Yield on Mauritius 20 year Treasury bond falls to 6.54 pct

Nigeria

•  Oando divests interest in captive power plants
•  Guinness Nigeria offers 5 for 11 shares in N39.7b rights issue
•  Transcorp Hotels’ profit rises to N3.7bn
•  GT Bank to reduce loan growth to focus on bond investment
•  ContinentalRe Grows Profit to N3bn, Declares 14k Dividend
•  Access, GTB, Zenith Record N120bn Impairment Charges
•  First Bank seeks long-term action for agric sector
•  Total grows profit by 266%, IEI delays result
•  Nigeria central bank governor defends policy of limiting imports
•  Inflation Projected to Decline in February
•  Naira eases on official market after central bank dollar sale
•  Nigeria offers new retail savings bond with 13.01 percent coupo
•  Nigeria's telecoms regulator sees deal in Etisalat debt talks
•  Nigeria inflation eases for first time in 15-months in Feb: stats office
•  Nigerian lawmakers aim to pass 2017 budget by end of March: Senate president
•  SEC reduces cost of raising capital
•  Banks in stand-off with Etisalat Nigeria over problem loan
•  CBN injects fresh $100m into forex market
•  IFC Official Faults Nigeria’s Economic Recovery Plan

Tanzania

•  Vodacom IPO turnout baffles brokers
•  Tanzania gives coal mining licence to Dangote after president's order
•  Acacia Mining boosted by Peel Hunt upgrade
•  Tanzania central bank asks commercial banks to cut lending rates
•  Relief as shilling stabilizes in March
•  Local investor eyes business expansion after Turkish President’s visit
•  External debt up due to shilling fluctuation
•  Italian firm eyes car market in Tanzania
•  Current account deficit narrows as exports rise
•  WB President, JPM set to launch Ubungo interchange construction

Zambia

•  Zambia Sees 2017 Corn Harvest Rising to More Than 3 Million Tons

Zimbabwe

•  Tongaat Hulett sees raw sugar production up 26 percent in 2 years
•  ART chief executive Ameer quits
•  TelOne slips to $35mln FY loss as voice revenue drops 25pct
•  Old Mutual Zimbabwe FY PAT grows 600pct to $92mln
•  Econet sees growth in mobile revenue
•  Innscor HY profit up 16pct to $18mln
•  PPC’s new plant ‘ideal for exports’
•  Schweppes Zimbabwe’s Best Fruits unit to set up $10mln plant in Matabeleland
•  Tobacco output remains flat, prices seen depressed
•  ‘Social contract, devaluation to stem imports’
•  Zimbabwe seeks new South African electricity supply deal
•  Delays in foreign payments to hit mining output
•  Zimbabwe hopes tobacco sales will ease dollar crunch
•  Zimbabwe consumer prices rise 0.06 percent y/y in February
•  Cheap imports choke cement producers
•  Zim signs infrastructure funding MoU
•  Bankers warn over interest rate cuts, TBs
•  Zim eyes $1,5m exports to Tanzania

contacts
  • Bermuda +1 441 278 7620
  • South Africa +27 11 268 5833

© Securities Africa             Licensed to conduct Investment Business by the Bermuda Monetary Authority

   Terms and Conditions