Weekly African Footprint: May 06, 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 says foreign reserves rise to $17.011bln at end-April

Ghana

•  Tullow says Ghana's Jubilee oilfield pumping 30,000 bpd
•  Investors in Ghana's Biggest IPO Fret as Listing Deadline Looms

Kenya

•  Uchumi talks to creditors in bid to turn debts into shares
•  Chase Bank receives Sh100m in new deposits
•  Kenya's economy expanded by 5.6 pct in full year 2015
•  Recovering tourism sector registers low numbers
•  Kenya sets 2016/17 budget deficit at 9.3 pct of GDP, but likely to fall
•  Kenya private-sector activity rebounds in April, PMI shows
•  Kenya's 364-day t-bills yield declines to 11.723 pct

Nigeria

•  NB posts N77.55bln revenue, N10.5bln profit in Q1
•  Transcorp plans to adopt idle gas plants
•  CEO of Nigeria's Fidelity Bank remains in custody, shares down
•  Nigeria's UBA plans African expansion - chairman
•  Wema Bank optimistic on dividend payment, posts N3.05b gross profit
•  Nigeria to begin exploratory oil drilling in Chad Basin by October
•  Moody's Downgrades Nigeria's Sovereign Issuer Rating to 'B1'
•  Nigeria's Manufacturing Index Declines in April
•  Nigerian capital imports plunge 74 pct in first quarter, stats office says
•  Nigeria raises 150.6 bln naira in T-bills at higher returns
•  Inflation Projected to Rise Further to 13.2%

Tanzania

•  NMB floats 200bn/- bond in trenches
•  Tanzania plans gas pipeline to Uganda
•  DSE IPO starts in next ten days
•  Tanzania among Africa's mobile banking leaders

Zambia

•  Zambia's 2016 maize production seen higher than forecast at 2.87 million tonnes
•  Zambia's 2016 fiscal deficit seen slightly below 8.1 percent of GDP

Zimbabwe

•  Hwange seeks $7,5m loan
•  Two firms removed from Zim Stock Exchange
•  Nampak H1 revenue up 4pct to $47,5 mln on strong demand
•  Agribank seeks to raise $20mln through agro bills
•  Barclays keeps tight rein on lending to avoid bad loan nightmare
•  Metallon Q1 output falls 15pct as power outages worsen
•  Econet launches massive consumer promotion
•  IMF to consider Zim progress report
•  Zimbabwe to introduce bond notes as cash shortages bite
•  Zimbabwe needs 'bold reforms' as economic difficulties deepen
•  Bank lending rates to decline to 15pc

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