Weekly African Footprint: September 08, 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 Pharos Holding targets deals worth about 7.5 bln EGP within 18 months: CEO
•  Egypt's tourism revenues rise 170 pct in first seven months of 2017
•  Egypt signs memo with China on $739 mln of funding for new train to capital, minister says
•  Egypt's non-oil business activity contraction slows slightly

Ghana

•  MTN Ghana invests US$144.5 million to expand operations
•  IMF bailout extension gives comfort to the market – RMB Research
•  IMF praises BoG over UT, Capital takeover
•  Ghana 2016-17 cocoa purchases hit at least 940,000 T by end Aug

Kenya

•  KCB set to auction 119 defaulters’ vehicles
•  KQ to restore employee share scheme at annual meeting
•  Safaricom stake sale pushes local deals to Sh300 billion
•  Cash-starved ARM plans to sell stake
•  Sanlam set to sell iconic CBD office for Sh460 million
•  Kenya Airways falls short on debt terms
•  Kenya Airways in Sh2.6bn plane sub-lease losses
•  Kenyan Growth Jitters Rekindled as Court Orders Ballot Rerun
•  Investors show less interest in short-term T-bill
•  Electricity prices surge to 6-year high on forex levy
•  Kenya Will Hold Rerun of Presidential Election on October 17
•  Raila Odinga rejects date for repeat presidential poll
•  Kenya's private sector activity plunges amid election uncertainty: PMI
•  Bad loans rise to 9.91pc as banks see further increase
•  East Africa leads SWIFT global deals growth
•  Election blues costing us Sh75m a day, say matatus
•  Kenyan Electoral Body Chairman Asks CEO to Explain Vote Failures
•  Kenyan shilling strengthens to highest level since March 2017

Nigeria

•  Guinness rebounds, grows profit by 16%
•  SEC clears Oando, approves planned AGM
•  ETI Secures $250m Loan Facility to Boost Operations
•  FirstBank Partners Visa on Mobile Payment Solution
•  PZ Cussons Grows Profit to N3.8bn, to Pay N1.9bn in Dividends
•  SEC discards investors’ petition against Oando
•  Anxiety Grips Investors as More Companies Opt for Voluntary Delisting
•  Nigeria's economy emerges from recession in second quarter, stats office says
•  CBN Injects $250m in Forex Market
•  Nigerian Sovereign Wealth Fund Grows to $2 Billion, CEO Says
•  Telecoms sector adds N1.5tn to GDP, says NCC

Tanzania

•  Acacia to reduce Tanzania operations, cut jobs
•  Orca posts encouraging results in H1
•  Tanzania raises petrol, diesel prices, kerosene edges down
•  Tanzania Leader Asks Ministers Named in Mine Probe to Quit

Zimbabwe

•  Metallon restructures, makes mines stand alone operations
•  TelOne legacy grows to $374mln
•  Tobacco export earnings up 13pc
•  ZSE reaches new high in August
•  Zimbabwe heading towards de-dollarisation
•  ZPC seeks to set up three 100MW solar power plants
•  Zimbabwe maize seed demand up 50pct, says official
•  Afdis leads ZSE gains Zimbabwe retailers tell c/bank food shortages likely as cash crunch bites
•  Zimbabwe earns $3,2bln forex in 8 months
•  Zimbabwe platinum output falls 13pct in Q2
•  Zimbabwe businesses warn Mugabe growing deficit could destabilise banks
•  Zimbabwe to begin offshore dividend repatriation next month
•  Microfinance institutions to lobby RBZ for higher interest charges

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