Weekly African Footprint: March 18, 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 sells stake in state telecoms firm
•  Botswana's CPI quickens to 3 pct y/y in February
•  Botswana's 2016 GDP growth estimated at 3.7 percent

Egypt

•  Egypt's EFG Hermes board approves Credit Libanais stake sale at $33/share
•  Egyptian pound stable in official auction, firmer on black market
•  Egypt Central Bank Devalues Currency by 13% at Dollar Sale
•  Egypt c.bank raises key interest rates by 150 basis points

Ghana

•  Moody's hands AngloGold Baa3 debt rating
•  A second 5-year Bond successfully issued
•  Ghana Debt Sales Bloom as Pension Funds Warm to Company Bonds

Kenya

•  Kenya's TransCentury secures $20 mln in capital as bond deadline nears
•  Bank Coop Bank earnings jump 46pc to Sh11.7bn
•  Kenya's Kakuzi 2015 pretax profit up 228 pct
•  Equity Bank may be interested in parts of Barclays Africa: CEO
•  IMF approves 24-month $1.5 bln standby facilities for Kenya
•  Kenya aims to cut 50 bln shillings from net 2015/16 spending
•  Kenya plans interest corridor to lower costs of credit: IMF
•  Kenya's market regulator to tighten rules against money laundering

Malawi

•  Malawi inflation slows to 23.4 pct y/y in February

Mauritius

•  Mauritius finance minister quits, PM says takes role
•  Mauritius current account deficit narrows in Q4 2015: central bank
•  Mauritius economy seen expanding 3.8 pct in 2016

Nigeria

•  GTB Maintains Lead in Forex Allocation from CBN
•  7-UP, Honeywell, Sterling Bank lead N46bn market loss
•  GTBank Records N99bn Profit After Tax, Declares N52bn Dividend
•  UBA Reports PBT of N60bn, Pays Additional 40kobo as Dividend
•  Nestle Records N24bn Profit, Declares N19 Final Dividend
•  GTB, MoneyGram Unveil New Fund Receive Product
•  Dangote Opens Tomato Factory to Vie With Chinese Imports
•  Zenith Bank Declares N1.55 Final Dividend as ETI Expects Lower Earnings
•  Dangote Partners Kaduna, Kebbi States to Bid for Peugeot Nigeria
•  Access Bank Grows Profit by 53% to N66bn, Pays 30kobo Final Dividend
•  UBA Expects 15% Loan Growth in 2016
•  Nigeria's state oil company withheld $16 bln in 2014
•  Nigeria's state oil company denies it failed to remit $16 bln in 2014
•  Nigeria inflation at almost 3-1/2 year high in Feb: Stats office
•  Nigeria raises 125 bln naira in 5-, 10-, 20-yr bonds at lower yields

Tanzania

•  Swissport Tanzania profit soars in 2015
•  NBC, Barclays Bank merger under consideration
•  Brokers bullish on stock market prospects in 2016

Zambia

•  Zambeef's palm project needs $24m investment in 5 years

Zimbabwe

•  Econet ventures into security industry
•  Natfoods set to acquire snacks business
•  Starafrica sells Bluestar for $1,5m
•  Dairibord eyes 10pc volume increase
•  New suitor eyes Zisco
•  Zimbabwe sets up innovation fund, seeks to create own 'Silicon Valley'
•  RBZ seeks to broaden financial inclusion
•  IFC to draft new Zim investment programme
•  Zimbabwe Considers Compensating Evicted Foreign Farmers
•  Zimbabwe expects first IMF loan in nearly two decades this year
•  February inflation steady at -2.22pct
•  Treasury struggles to recover loans from 'broke' parastatals, threatens legal action
•  ZimTrade calls for trade balance with SA
•  RBZ to re-introduce TBs auction system
•  Zimbabwe must clear arrears to get IMF loan

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