Weekly African Footprint: September 09, 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 GASC buys 50,000 tonnes of Brazilian raw sugar
•  Egyptian Media Company targets 2018 IPO says adviser
•  Egypt eyes $2-3 bln deposit from Saudi Arabia to help seal IMF deal: fin min

Ghana

•  IMF team questions Bank of Ghana Amendment Bill
•  Export earnings from processed sub-sector drops by 2.3%
•  Ghana finmin says 9.25 pct Eurobond yield shows investor confidence

Kenya

•  Kenya says banks must cap interest rate caps on loans from Sept. 14
•  Kenya signs nuclear power deal with South Korea
•  Kenyan shilling steady, importer demand subdued
•  Treasury suspends digital tax plan to address firms’ anxiety

Mauritius

•  Mauritius offers 5-year and 15-year T-bonds worth 3.3 bln rupees

Nigeria

•  Standard Alliance posts N268m profit
•  UBA subsidiaries contribute 30% of total deposit base in Q2
•  Seven Energy loses $42m to militant attack
•  MTN Plans Bond Sale to Raise Funds
•  Conoil Grows Profit by 176% to N2.3bn, Pays 300k Dividend
•  Fitch downgrades Nigeria’s Seven Energy to ‘CC’
•  Nigeria's state oil company says could be crippled by Delta militancy
•  CBN to sanction banks over Power Fund
•  Nigeria's NNPC says no plans for gasoline price increase
•  Recession cuts telecoms operators’ earnings by N31b in Q2
•  SEC adopts new measure to tackle unclaimed dividend in capital market

Tanzania

•  Enterprise Growth Market Cap reaches 120bn/-
•  Tightened spending, tax collection boost reserves
•  Tanzania Q1 GDP growth slows to 5.5 pct
•  Treasury bills register over-subscription

Zambia

•  World Bank tips Zambia on economic recovery
•  Lungu to Be Sworn in Sept. 13 as Zambian Poll Dispute Dismissed
•  As drought hits Zambian harvests, food prices are on the rise

Zimbabwe

•  TelOne cuts costs by 16pct in H1 amid revenue slowdown
•  Dairibord slips to $2mln H1 loss
•  Masimba rebounds, expects profitable FY
•  Mid-term fiscal policy review on Thursday
•  Firms’ revenue drop 33%, new report shows
•  ZSE monthly turnover down 38 percent
•  Court lifts demonstrations ban
•  Zimbabwe trims 2016 economic growth forecast, budget deficit balloons