Weekly African Footprint: September 15, 2017

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 stock exchange to reduce trading halt time
•  Average yields drop on Egypt's three- and nine-month T-bills
•  Egypt's GASC says seeking soy oil, sunflower oil in tender
•  Egypt's Q4 2016-17 current account deficit narrows by 50 percent -central bank
•  Egypt's net FDI rises 14.5 pct in 2016-2017: central bank
•  Egypt aims to increase corn farming area to reduce reliance on imports
•  Egypt budget deficit at 9.5 pct in Q4 FY 2016-17: president

Ghana

•  Ghana cenbank triples minimum bank capital requirement to 400 mln cedis
•  Ghana inflation rises to 12.3 pct in August vs 11.9 pct in July
•  Ghana to maintain cocoa farmer price in coming season

Kenya

•  Longhorn targets more African expansion
•  KBL raises Senator Keg beer output by 20 per cent as demand rises
•  Limuru Tea profit drops on lower produce
•  KQ eyes New York in debut direct flights
•  Barclays Sees Kenyan Banks Rushing to Raise Debt for Capital
•  Centum books Sh1.1bn gain from Kenya Wine stake sale
•  Co-op Bank taps former CBK executive John Murugu as board chair
•  CBA shrugs off interest rate caps to post 14pc profit
•  Kenya to sell two-year, 10-year bonds worth 30 bln shillings in Sept
•  Clock Ticks for Kenya as Squabbles Overshadow Election Rerun
•  Kenya’s inflation target range retained for sixth year
•  Regulator likely to hold key rate at MPC meeting
•  Treasury back in the market with Sh30bn bond issue
•  Kenyan Opposition Threatens Protests Over Electoral Body CEO
•  Kenya's Mombasa port traffic up 12 pct in first half
•  CBK bullish on 2017 economic growth
•  Debt burden mounts as Treasury borrows Sh430bn in 5 months
•  Kenyan lawmaker warns any move to change bank rate cap will fail
•  Fitch could stabilise Kenya's rating if election re-run goes smoothly
•  Kenyan Political Limbo Hamstrings Central Bank on Currency Risk
•  Kenya cuts 2017 economic growth forecast to 5.5 pct

Malawi

•  Malawi's inflation slows to 9.3 percent in August

Mauritius

•  Mauritius to provide forex support to export sector - Finance Ministry
•  Mauritius trims 2017 sugar output after high rainfall

Nigeria

•  Africa’s Richest Man Considers Bidding for Cement Maker PPC
•  UBA Highlights Investment Opportunities in Chad
•  Flour Mills to Increase Investments in Local Production
•  Successful Oando Plc AGM Excites Shareholders
•  Nigeria's Stanbic IBTC offers scrip dividend option for three years
•  CBN Pledges to Sustain Intervention in Forex Market
•  Nigeria's Shoreline Energy signs $300mln gas deal with Shell
•  CBN injects fresh $250m into forex market
•  Budget: Low revenue generation threatens funds release
•  Nigeria plans to shut its three refineries for complete overhaul: NNPC spokesman
•  Nigeria starts sale of 100 bln naira debut sovereign sukuk
•  Nigeria cocoa output seen rebounding in 2017/18
•  Nigerian annual inflation at 16.01 pct in August -stats office

Tanzania

•  Petra Shutters Tanzanian Mine After Diamond Shipment Seized
•  DSE market turnover weakens

Zambia

•  Zambia GDP growth seen rising to 6.1 percent by 2020, finance ministry says
•  Zambia awards Chinese firm $1.2 billion road expansion project
•  Zambia's economy to grow 4.3 percent this year: central bank
•  Zambia sees copper output easing slightly this year

Zimbabwe

•  Masawara PAT up 57pct to $3,6mln in H1
•  ZimAlloys finally cedes claims to Govt
•  Pearl Properties rebrands to First Mutual Properties
•  Zimplats FY profit rises despite lower platinum output
•  Zimplats agrees to cede claims to govt
•  FML half year profits up 63 pct to $4,3 mln, property subsidiary back in the black
•  Riozim swings to $2,9mln after tax profit in H1, gold production up 13pct
•  Makomo doubles coal output to 150k tonnes/mth
•  TelOne seeks license for Video-On-Demand platform
•  Proplastics H1 profit up threefold to $353k
•  Zimbabwe’s economy recovering despite currency woes, says Mugabe
•  ZSE market cap hits $8bln
•  Macadamias to Marigold Seeds Spark Hope for Zimbabwe Farm Reboot
•  Zimbabwe stock market hits new highs as currency, cash problems worsen
•  Delta, Innscor propel ZSE to new high