Weekly African Footprint: March 27 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.


Botswana

•  Botswana Cuts Bank Reserve Requirement to 5% for Liquidity Boost

Egypt

•  National Bank of Egypt to issue dollar bond by end of June-CEO
•  Beltone Financial 2014 profits falls to LE15.2 m
•  EGP 13bn total income of Vodafone Egypt in 2014
•  Egypt's Arab Investment Bank and IDB unit launch leasing firm

Ghana

•  Moodys downgrades GCB Banks local-currency deposit rating to B3
•  Republic Bank submits offer to HFC Bank
•  Ghana seeks bridge financing of up to $1 bln in H1 2015
•  Cedi fall hits petroleum importers; fuel shortage imminent
•  Ghana producer price inflation slows to 21.8 pct in February

Kenya

•  Nation Media Group 2014 profit hits Sh3.6 billion
•  Kenya's Kenolkobil 2014 profit up, sees more gains in 2015
•  Kenyan insurer Jubilee says 2014 pre-tax profit surged 25 pct
•  Kenya's Kakuzi 2014 profit falls after costs rise
•  Kenya's ARM Cement says 2014 pretax profit flat
•  Kenya's Housing Finance raises 2.95 bln shilling in rights is
•  Centum signs sweetheart deal with UK duo for Vipingo land
•  KenolKobil cuts debt exposure by Sh4 billion
•  EABL eyes rich buyers with luxury spirits outlet at Yaya
•  StanChart crosses Sh10bn after-tax profit mark
•  Kenya's Housing Finance 2014 pretax profit down 4 pct
•  Nairobi Stock Exchange reports 16 pct rise in pretax profit
•  Kenya Reinsurance reports 20 pct rise in 2014 pretax profit
•  Kenya Plans Tenders for $2 Billion Toll-Road Deals in May
•  Falling exports risk to growth, warn analysts
•  Kenya regulator says tea output, exports rise in 2014

Malawi

•  IMF approves $18 mln aid to Malawi after commitment to fight corruption

Mauritius

•  Mauritius foreign direct investment jumps 48.7 pct in 2014
•  Mauritius' budget deficit to widen to 3.2 pct in 2015/2016
•  Mauritius' unemployment rate falls to 7.5 pct in Q4

Nigeria

•  FCMB Records 38% Profit Growth, Declars 25kobo Dividend
•  Julius Berger Mulls Partnership with Power Sector Investors
•  Julius Berger Nigeria 2014 pretax profit falls 19 pct, pays dividend
•  Nigeria's Wema Bank 2014 pretax profit rises 59 pct to 3.09 bln naira
•  Skye Bank Issues N100bn Commercial Paper
•  Unilever Plans to Raise Stake in Nigerian Unit on Growth Outlook
•  Nigeria's Sterling Bank 2014 pretax profit up 15.4 pct
•  Shell completes $1.7 billion sale of Nigerian assets to Aiteo
•  Dangote Cement Profit Falls on Lengthy Nigeria Rainy Season
•  Nigeria's UBA 2014 pretax profit up marginally
•  Seplat says 2014 profit fell 54 pct as oil prices plunged
•  Unilever Nigeria 2014 pretax profit falls 58 pct
•  Total's Nigerian unit says 2014 pretax profit down 32 pct
•  Dangotes $250m Cement Plant Opened Senegal
•  FGs Revenue May Decline by 25% This Quarter
•  Election uncertainty, oil price kill construction in Nigeria
•  Nigeria holds rates at 13 pct, worried by economic growth outlook
•  Nigerias External Reserves Fall Below $30 Billion

Tanzania

•  Twiga Cement profit soars by 50 pc
•  Tigo Tanzania to spend Sh11b in expansion
•  Tanzania's current account deficit narrows 4.7 pct in year to Jan

Zambia

•  Zanaco records loss
•  Zambia to export 800,000 T of white maize to neighbouring states
•  Zambia Corn Crop May Drop to Six-Year Low as Rains End Early
•  Zambias Lungu Gives Ministers Two Weeks to Change Mine Tax
•  Zambia March inflation slows to 7.2 pct y/y
•  Zambias Kwacha Extends Gains After Lungu Orders Mine Tax Review

Zimbabwe

•  FMHL moves to cushion against claims
•  Pearl properties revenue declines
•  Dairibord to spend $10m on growth
•  Higher volumes in paints division boost Astra net profit by 24 percent
•  Edgars after tax profit up 22 pct on new accounts
•  CABS records 32pct jump in income
•  Astra to delist from ZSE
•  Fast-Growing Crocodiles Lift Profit Margin at Zimbabwes Padenga
•  Zimbabwe engages Germany over $740m debt
•  Zim, Algeria Negotiate Mega Deals

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