Weekly African Footprint: May 29, 2015

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's Choppies sparkles in Johannesburg stock market debut
•  Botswana's growth to remain above 4 pct
•  Bank of Botswana Says Power, Water Shortages to Hurt GDP Growth
•  Botswana Seeks to Hasten $1.6 Billion Zambezi River Pipeline

Egypt

•  Egypt's Qalaa says seeing strong foreign interest in asset sales
•  Egyptian developer Palm Hills raises $212 mln in share issue
•  Egypt's Carbon Holding eyes $4 bln loan by for petchem project
•  Egyptian pound steady at official auction, weaker on black market
•  Egypt picks banks for first international bond issue in 5 years
•  Egypt bourse to reduce free float required to list on EGX 30

Ghana

•  Government Bond Realises GH¢572m
•  Ghana Bourse Suffering Trade Slump Awaits Fund Sales Boost

Kenya

•  Kenya Re acquires stakes in Ugandan state-owned underwriter and ATI
•  Equity of Kenya Acquires Stake in Congo's Seventh-Biggest Lender
•  Co-op Bank eyes profit from all its branches
•  Loss-making Kenya Airways gets government loan-parliament
•  Kenya's National Bank Q1 pretax profit jumps 20 pct
•  Kenya's Diamond Trust Bank Q1 profit up 10 pct
•  StanChart earnings dip 28 per cent on bad loans
•  Kenya's cenbank sets next Monetary Policy committee meet on June 9
•  Kenyan shilling steady, seen easing due to importer dollar demand
•  NSE 20-share index loses 5.5pc over capital gains tax dilemma
•  European Union gives Sh1bn to boost Kenyan exports
•  Kenya cuts cost of power connections to boost economy
•  Kenyan shilling eases, stays off new lows hit a day earlier

Malawi

•  Falling inflation to boost Malawi's currency

Mauritius

•  Mauritius central bank rejects bids for 3-year Treasury bond
•  Mauritius' Q1 trade deficit widens 2.8 pct

Nigeria

•  Dangote's $480m Ethiopian cement factory for inauguration June 5
•  Ecobank Nigeria Secures $15m Credit
•  Flour Mills Launches Three New Products
•  Shareholders Commend Lafarge Africa on N15.9bn Dividend
•  Dangote Sugar pays N4.8 billion dividend
•  Oando Nigeria Plans to Truck Compressed Gas to Industrial Users
•  Nigeria's Amcon Recovers 57% of Bad Debts Bought in Crisis
•  Union Bank of Nigeria to close branches early due to fuel short
•  Portland Paints Grows Profit by 159%, to Raise Funds
•  Seven Energy Seeks Mergers to Boost Gas Production
•  Skye Bank to Access Market for N30 Billion Tier 1 Capital
•  Nigerian oil union halts Halliburton operation over job cuts
•  Nigeria fuel distribution resumes but disruption persists
•  Nigeria's Foreign Trade Down By N110.2bn in First Quarter
•  Nigeria's FX reserves rise to $29.6 bln by May 27
•  Nigeria agriculture minister wins African Development Bank presidency

Tanzania

•  Dangote cement arrival excites local producers
•  Equity Bank extends wings to Arusha
•  NMB set to push nation to cash-less society
•  Tanzania Changes Bank Rules to Halt 'Speculative' Currency Trade
•  Zanzibar economy plunges into deflation
•  Tanzania agrees deal to buy back Bharti Airtel's stake in state telecom
•  Tanzania to spend $2 bln to unclog its commercial capital
•  Tanzania says signs $70.5 mln loan with AfDB to boost energy sector

Zambia

•  Lingering vulnerabilities pose risk to Zambian economy
•  Zambia Power Cuts Rise as Copper Producer's Dam Levels Fall
•  Zambia's May inflation slows to 6.9 pct y/y

Zimbabwe

•  Econet Remits U.S.$1 Billion to Fiscus
•  RioZim Rights Offer to Open in June
•  OK Zim in U.S.$5 Million Expansion
•  Chinese Investor for Kamativi
•  Dawn Properties FY revenue down 7pct on weak economy
•  Dairibord revenue up 6%
•  Turnall Q1 volumes up 30pct, cheaper fibre imports boost performance
•  AfDB to help Zim out of the woods

contacts
  • Bermuda +1 441 278 7620
  • South Africa +27 11 243 9030

© Securities Africa             Licensed to conduct Investment Business by the Bermuda Monetary Authority

   Terms and Conditions web design