Weekly African Footprint: March 24, 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.

Egypt

•  Egypt's CIB completes $40mln sale of investment banking unit
•  Egypt received two cargoes of diesel fuel from Saudi Aramco
•  World bank disburses another $1 billion loan to Egypt
•  Egypt targeting $9 bln in foreign financing in FY 2017-18

Ghana

•  Energy sector debt: Government's debt to banks, fuel suppliers hits $1.2 b

Kenya

•  Kenyan oil firm KenolKobil to open 30 new stations this year
•  Tullow Oil’s rights issue to boost Kenyan exploration
•  South Africa fund raises KenGen stake with 85.1 million more shares
•  Kenya Treasury Concludes $800 Million Syndicated Loan Accord
•  Kenya to start offering mobile-phone-based bond to investors
•  M-Pesa cash ceiling to go up in bid to boost M-Akiba bond

Nigeria

•  Transcorp shareholders okay 40 kob
•  Cadbury Records Full Year Loss of N563m
•  Zenith Bank shelves plans to raise 100 bln naira due to weak economy
•  Nigerian overnight lending rate eases on expected fresh funds
•  Nigerian central bank head urges cooperation on monetary, fiscal policy
•  Naira to Appreciate Further as CBN Boosts Forex Sale
•  Cost of funds rises as investors stake N451bn in government securities
•  Shrinking Economy, Surging Prices to Keep Nigeria Rates on Hold
•  World Bank approves $57bn for Nigeria, others
•  Nigeria's Central bank to sell $100mln forward at auc
•  Nigeria has floated naira "within a range"-cbank gov
•  Nigeria central bank keeps benchmark rate at 14 percent
•  Nigeria's government revenues fall in February due to lower oil prices
•  Improved FX Supply Raises Optimism about Nigeria’s Outlook
•  SEC Moves to Deepen Capital Market via New Cost Structure
•  Nigeria FX traders widen spreads after black market naira rally

Tanzania

•  NMB inaugurates new money transfer service
•  World Bank to lend Tanzania $2.4bln over 3 years for infrastructure projects
•  Gold exports slim Tanzania's current account gap in year to January
•  U.S. firm seeks $561 million from Tanzania in power supply dispute

Zambia

•  Kalungwishi power plant back on track
•  Zambia Copper Miners Face $276 Million Bill in Power Dispute

Zimbabwe

•  NicozDiamond PAT 41pct to $1mln as regional operations suffer
•  Caledonia in record gold output at Blanket Mine
•  Headwinds facing Delta Corporation to hit earnings
•  Ecobank after-tax profit up 91pct
•  POSB after tax-profit up 22pct
•  Zimre Property narrows FY loss to $1,4mln
•  Simbisa Brands after-tax profit up 5pct
•  Edgars profit down on retrenchment exercise
•  Zimbabwe prints $102 million in bond notes, half its limit - state newspaper
•  TIMB takes over afforestation fund
•  Chrome exports up 320%