Weekly African Footprint: October 28, 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.


Botswana

•  Botswana's growth seen at 4.4 pct annually for next 6 years: government

Egypt

•  Egypt to issue $2 bln in international bonds, roadshow in Nov
•  Egypt's Sisi says military's economic activity 1-1.5 pct of GDP
•  IMF says expects board to consider Egypt loan in next few weeks

Ghana

•  Gold Fields to spend $1.4 bln on Ghana's mine
•  More banks resort to stock market for capital
•  Ghana govt says revises 2017 GDP forecast down to 7.0-7.4 pct
•  Ghana Sept producer inflation falls to 9.7 pct on lower gold prices
•  Ghana Seeks $1.5 Billion China Loan in Return for Gas Supplies

Kenya

•  House team to quiz Mumias Sugar chiefs on Sh3bn
•  Kenya Airways to focus on restructuring financing: new chairman
•  KenGen eyes non-power revenue to boost earnings
•  KQ half-year loss shrinks to Sh4.8bn on deep cost cuts
•  Safaricom to roll out 4G network in five towns
•  Kenya extends sale of 15-year infrastructure bond worth 10 bln shillings
•  Treasury opens bids for Sh10bn infrastructure bond
•  Kenya access to Europe intact despite EAC hitch
•  Drought Threatens Production in World’s Biggest Tea Exporter

Mauritius

•  Mauritius' Lux Island Resort widens loss, hit by weaker pound
•  Foreign investment in Mauritius jumps by 69 percent in first half of 2016

Nigeria

•  MTN suspends Nigeria dividend payout, brings forward CEO start date
•  Access Bank Eurobond Paves Way for Nigeria Funding
•  Shareholders fume as CBN suspends MTN’s dividend payout
•  Dangote Cement’s profit drops by N24.47bn
•  NB Plc Records Decline in Profit, Declares N7.9bn Interim Dividend
•  Nigerian bourse pushes back derivatives launch to 2017 – CEO
•  Nigeria's distributable revenue fell 17 pct to 420 bln naira in September
•  Nigeria’s offshore rig count declines to seven
•  Nigeria's Buhari asks parliament to approve $30 bln of borrowing
•  Nigerian lawmakers to probe possible railway concession for GE
•  Nigeria asks Emirates and other airlines not to cut flights
•  Naira Depreciates to N460/$ on Parallel Market
•  Shareholders Approve Jaiz Bank’s Bid to List on NSE
•  Govt to raise $25.46bn from World Bank, IDB, AfDB
•  Nigeria has commitments for $500 mln of its planned Eurobond
•  Nigeria launches infrastructure programme to tackle insurgency in oil delta

Tanzania

•  TADB posts profit in Q3
•  NMB to support telkoms money agents
•  EU tops Tanzania’s trading partner list

Zambia

•  Zambia to maintain maize export ban to build reserves
•  Kwacha ends strong
•  Zambia to announce interest rate decision on Nov. 16 - central bank
•  Zambia's inflation slows to 12.5 percent year/year in October
•  Zambian utility asks mining firms to cut electricity usage as power output drops
•  IMF demands sale of ZAMTEL

Zimbabwe

•  Riozim Launches Gold Processing Plant
•  Zamco to purchase Star Africa’s $33mln debt in new scheme of arrangement
•  NetOne likely to lose $11 mln Firstel debt – liquidator
•  Air Zimbabwe risks losing planes over debts – CEO
•  Zimbabwe growth to quicken to 4.8 pct in 2017: Treasury document
•  Exports surge 61% to $254m in six months
•  Govt secures $1,2m EU cotton funding
•  Cotton output seen at its lowest in 2016/17 season as farmers shun low prices
•  Data now contributes 40pct of TelOne revenue – director
•  More IMF joy for Zimbabwe
•  Milk production up 14 pct
•  Zimbabwe slides to 161 on World Bank doing business index

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