Weekly African Footprint: March 24, 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 Suez Canal revenue drops to 3.108 bln EGP in Feb
•  BG Egypt halts some development wells over price dispute
•  Egypt's central bank sets 9-year term limit for bank CEOs

Ghana

•  Bank of Ghana holds benchmark interest rate at 26.0 pct
•  Bank of Ghana holds benchmark interest rate at 26.0 pct

Kenya

•  Bank of Ghana holds benchmark interest rate at 26.0 pct
•  StanChart maintains dividend as profit dips 39pc on bad loans rise
•  Kenya's $1.5 Billion IMF Loan Is Credit Positive, Moody's Says
•  Kenya central bank holds key lending rate at 11.50 pct
•  Kenya says plans to convert sole refinery into storage plant
•  Kenya says plans to convert sole refinery into storage plant

Mauritius

•  Mauritius 3-year Treasury bond yield falls to 3.68 pct

Nigeria

•  Sterling Bank records N10.3bn profit
•  Nigeria's Access Bank sees slower loan growth in 2016
•  Nigeria's state oil company withheld $25 bln between 2011 and 2015
•  Unemployment Rate Rises to 10.4% in Fourth Quarter
•  Nigeria Central Bank Reverses Policy by Raising Rate to 12%
•  Nigeria revenues in February fall to $1.73 bln
•  Nigeria inflation at almost 3-1/2 year high in Feb
•  Nigerian parliament approves 2016 record budget
•  Nigeria's unions urge government to prevent job cuts at oil majors
•  Nigeria expects oil output freeze at Doha meeting even without Iran

Tanzania

•  Nigeria expects oil output freeze at Doha meeting even without Iran

Zimbabwe

•  Fidelity Life FY revenue up 36pct as property investment pays of
•  Fidelity Life FY revenue up 36pct as property investment pays of
•  Beer giants confirm merger
•  ZB reports $9mln FY profit as bank returns to the black
•  First Mutual scraps to $100k FY profit, to exit underperforming RTG
•  SA to invest $600m in Zimbabwe
•  Zimbabwe to import 469,000 tonnes of white maize as drought bites
•  Zimbabwe says to shut down non-compliant companies on April 1

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