Weekly African Footprint: May 27, 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's 91-day, 266-day T-bill yields rise at Sunday's auction
•  Egypt energy subsidy bill to hit $5 bln-5.4 bln in fiscal 2015-16: minister

Ghana

•  Ghana 91-day bill yield rises to 22.8071 pct
•  Ghana Scraps Its Biggest IPO Auction, to Reopen Share Sale
•  Ghana producer inflation eases to 13.2 pct in April
•  Ghana producer inflation eases to 13.2 pct in April

Kenya

•  Uchumi Creditors to Convert Kenya Supermarket's Debt Into Equity
•  Kenya to Switch KenGen Debt in Region's Biggest Rights Offer
•  Kenya Airways says fixing weaknesses found after forensic audit
•  Kenya's Biggest Bank Doubles Provisions as Credit Sours
•  Kenya Cuts Rates for First Time Since 2013 on Slow Inflation
•  Kenya economy to grow 6 pct in 2016, current account deficit to narrow
•  Kenya's central bank sees 2016 growth up, current account deficit down
•  Treasury's local borrowing exceeds target by Sh100bn
•  Kenya secures $600 mln Chinese loan to support budget

Mauritius

•  Mauritius trade deficit widens 28.1 pct in March
•  Mauritius trade deficit widens 28.1 pct in March

Nigeria

•  Dangote stakes N10 billion in flour mills' buy-back deal
•  FG Suspends Talks with MTN
•  Shareholders laud NASCON over dividend payout
•  Tiger Brands posts rise in H1 profit after sale of Nigerian unit
•  Senate Asks FG to Recover N42bn Waivers Granted Dangote, Bua, Others
•  Seplat earmarks $130 million for oil, gas development in 2016
•  FBN Holdings Shareholders Receive N5.4 Billion Dividend
•  Nigeria's economy contracts in Q1, raising pressure on central bank
•  Nigeria's Central Bank Seen Loosening Stranglehold on Currency
•  MPC may review exchange rate policy
•  SEC plans new rules on companies' AGMs
•  Nigeria FX reserves down 2.7 pct as markets eye rate decision

Tanzania

•  CRDB sits on 7bn/- shareholders money
•  CRDB plan measures to cut bad debt ratio
•  TBL to construct US$ 50m malting plant in Iringa
•  Twiga Cement shareholders get 15pc rise in dividends
•  Dar bourse expects hefty profit in 2017
•  High-voltage power line to Zambia on drawing board

Zambia

•  Banks maintain high lending rates

Zimbabwe

•  NetOne eyes profitability from network expansion
•  Hwange Colliery, Glencore Start Talks to Renew Coke-Supply Deal
•  RioZim waived pre-emptive rights on Murowa
•  Turnall gets $1mln Dimaf funding, seeks more
•  Natfoods, Profeeds in partnership
•  ZSE lifts CFI suspension
•  Masimba expects profitable year after growing order book
•  AfDB backs RBZ cash strategies
•  Zim exports 29 000 tonnes of chrome
•  Zimbabwe imports seen falling as South African rand appreciates
•  Zim GDP to grow by 1.6pct in 2016 - AfDB
•  Diaspora, NGO remittances decline 16 percent

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