Weekly African Footprint: September 18, 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 first uranium mine targets 3.75 mln pounds output
•  Botswana's CPI slower at 3 pct in August y/y

Egypt

•  IMF concludes visit to Egypt, recommends flexible exchange rate, implementing VAT
•  Egypt central bank keeps key interest rates unchanged

Ghana

•  AngloGold to redevelop Ghana mine jointly with Randgold
•  Bank of Ghana set to review policy rate
•  Ghana's public debt climbs to 71 percent of GDP in June as cedi slides
•  Ghana central bank unexpectedly raises benchmark rate to 25 pct
•  Erratic inflation stoking short-term-debt demand - Report
•  Ghana's Cocobod signs $1.8 bln loan for 2015/16 crop purchases

Kenya

•  Kenya's ARM Cement says clinker plant will boost margins
•  Kenya's Uchumi expects return to profit growth within a year
•  Unilever sets up Sh155mn factory in Nairobi
•  Equity Bank completes acquisition of DR Congo ProCredit Bank
•  Kenya's Chinese-built railway seen opening to traffic in mid-2017
•  Kenyan Currency Trading at Proper Level, Treasury Chief Says
•  Central bank rate tightening in Kenya appropriate: IMF

Malawi

•  Malawi inflation rises to 23.0 pct year-on-year in August

Mauritius

•  Mauritius' Rogers annual pretax profit jumps 43 pct

Nigeria

•  Shareholders Approve Flour Mills' Subsidiaries Meger with HoldCo
•  Forte Oil Begins Sale of Kerosene at N50 Per Litre
•  FMDQ admits Wema Bank's N8.15bn commercial paper
•  Nigerian inflation edged up to 9.3 pct in August
•  Recapitalisation: 47 Market Operators Apply for Reclassification, Merger
•  France to invest 130m in infrastructure development in Nigeria
•  Nigeria's interbank market frozen as banks move government revenue to central bank
•  Nigerian President Rules Out Further Currency Devaluation
•  CSCS ready for securities lending, borrowing for custodians
•  Banks profit set to fall over TSA
•  Nigeria raises 45 bln naira in 5-, 20-yr bond sales; yields rise

Tanzania

•  Devaluation eats up profit at Tanga Cement
•  Afreximbank keen to expand footprint in Dar
•  Corporate demand pushes down shilling
•  State promises investor-friendly climate
•  Tanzania Plans to Sell Stake in National Airline After Elections
•  Tanzania's current account gap narrows 16 pct in year to July: central bank

Zambia

•  Lafarge records 4% profit
•  Glencore's Zambian unit to cut 4,300 jobs -union, sources
•  Zambia orders Vedanta's Konkola to dispose of Chilean copper
•  Kwacha to hold firm against dollar
•  Zambia exporting most of its maize to boost kwacha
•  Zambia mining union challenges forced leave by China's CNMC
•  Kwacha in 'defensive' mode
•  Zambia to triple power generation in two years with solar
•  Zambian economy slows as power cuts and copper price weigh: minister

Zimbabwe

•  ZHL bounces back to profitability
•  Zamco to conclude restructuring exercise
•  Edgars reports $1,2mln HY profit
•  CFI in $18mln land sale to clear debt
•  Ecocash South Africa service set for October launch
•  First Mutual GPW edges up to $60mln in H1, recovers from loss position
•  Padenga in H1 $2,5 mln operating loss, cites 'disruptive' animal cruelty
•  EIB to visit Zim before year end
•  Zimbabwe's inflation unchanged at -2.77 pct y/y in August: Zimstats
•  AfDB to cancel Zimbabwe's $600mln arrears

contacts
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