Weekly African Footprint: November 25, 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 Orascom Construction Q3 net income rises
•  Egypt's three and nine-month t-bill yields fall in weekly auction
•  Egyptian importers nursing losses after currency float want a bailout

Ghana

•  EXIM Bank will provide soft loans for SMEs - CEO
•  All eyes on BoG to prune year-long policy rate
•  Airport Company gets $180million tax relief for new projects
•  Ghana and ADB sign $83 milion loan agreement
•  Ghana central bank reduces policy rate by 50 bps to 25.5 pct
•  Ghana producer inflation rises to 9.8 pct in October

Kenya

•  Kenyan regulator penalises former Uchumi executives
•  Kenya's HF Group's 9-month pretax profit up 10 pct
•  KenGen earns Sh27.6m from managing power firm Aggreko
•  Kenya's Family Bank issues profit warning for 2016
•  Kenya's Portland Cement looks to land sales to fund turnaround
•  Kenya Airways CEO to go next year, after pilots' demands
•  Kenya’s Credit Slowdown to Curb Growth Next Year, IMF Says
•  Kenya coffee earnings jump 7.4 pct in 2015/16 - regulator

Malawi

•  Malawi October consumer inflation slows to 20.1 percent

Mauritius

•  Mauritian bank SBM says to acquire Kenya's Fidelity Bank
•  Mauritius sees tourist arrivals up 4.3 pct in 2017

Nigeria

•  Forte Oil raises N9bn from capital market via bonds issuance
•  Dangote Begins In-country Coal Mining, Ends Importation
•  Diamond Bank Offers High Interest Yielding Savings Plan
•  FCMB records N14.2bn profit for Q3
•  Nigeria GDP could expand 2.5 pct next year if oil output rises: Moody's
•  Higher Cement Production Has Helped Manufacturing Sector’s GDP
•  Nigerian recession deepens in Q3, oil output falls
•  Nigeria considers foreign exchange reforms as dollar shortages bite
•  Nigerian Oil Misses Goals After Legal Gridlock Deters Investors
•  Nigerian lawmakers say 2017 draft budget has unrealistic assumptions
•  CBN sells $356m to raw materials sector in October

Tanzania

•  TBL shines at DSE
•  Treasury bills oversubscribed as investors' appetite soars
•  Money supply rises in August: Central Bank
•  Over 2tri/- collected from mining sector
•  Zanzibar current account deficit narrows as exports surge
•  Bonds demand surges as liquidity improves

Zambia

•  FMO, FNB in $15m deal to help SMEs
•  Bond auction under scrutiny
•  Zambia's 2016 copper output to rise by 4 percent to 740,000 tonnes
•  Zambia's inflation slows to 8.8 percent year/year in November
•  Zambia copper concentrate duty to disrupt global copper supplies: sources

Zimbabwe

•  Spar Zimbabwe offers one-to-one cashback
•  NSSA buys 10pct of NicozDiamond shares
•  United Refineries says 30pct salary cut for execs paying dividends
•  Hippo Valley H1 profit falls 31 percent despite revenue growth
•  Zimbabwe power utility expects loss to widen to $224 million
•  Mining revenue flat; gold, platinum output higher
•  Industrial capacity utilisation rises to 47pct, but firms not excited about protectionism
•  National Payment System volumes up 4pct, value of transactions drops

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