Weekly African Footprint: September 22, 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.


Botswana

•  Botswana seeks option to buy unusually big diamonds from its mines

Egypt

•  Egypt's finance ministry seeks approval of two Eurobond issuances -sources
•  Romanian and French wheat cargoes still in Egyptian prosecutor custody
•  Foreign investment in Egypt's debt at $17.6bln since pound float: finance ministry
•  Egypt to determine Eurobond currency, issuance date in 2 weeks - finance minister
•  Egyptian banks have provided $55.1bln to fund trade since currency float
•  Average yields fall on Egypt's six-month, one year T-bills

Ghana

•  Fitch lauds Ghana’s macroeconomic stability
•  Ghana earned GH¢1.6bn from mining sector in 2016 - Chamber of Mines CEO
•  Ghana's Cocobod signs $1.3bln loan for 2017/18 cocoa purchases

Kenya

•  Safaricom lose Sh400 million revenue over poll disruptions
•  Lending caps push Equity deeper into foreign market
•  Kenya Power signs on IFC plan to curb electricity leakages
•  Centum books Isuzu shares at Sh3 billion
•  Uganda land deal boost for Centum
•  Kenya's Nakumatt Supermarkets enters merger with local rival Tuskys
•  Kenya Breweries pays sorghum, barley farmers Sh2.2bn
•  Britam completes sale of 10 per cent stake
•  Kenya Airways asks state to help it with growing competition
•  Death Threats, Split Authority Said to Threaten Kenyan Vote
•  Kenyan Election May Be Delayed Over Results System, Nation Says
•  Kenya central bank holds benchmark lending rate at 10.0 pct
•  Big companies top bank loan defaulters list
•  Treasury defends its economic forecasts after criticism
•  Presidential results were dubious - Supreme Court
•  CBK vague on roll out of the new currency
•  Current account deficit seen narrowing to 5.8pc by Dec
•  Kenya Sets Oct. 26 as New Presidential Election Date
•  Appetite for bonds grows on improved liquidity

Malawi

•  Malawi economic growth seen at 4.5 percent in 2017

Mauritius

•  Mauritius-based resort firm Sun Ltd cuts full-year pretax loss

Nigeria

•  Union Bank’s N50bn Rights Issue to Open for Subscription Wednesday
•  Stanbic IBTC Bank Unveils Value Proposition
•  Oando shareholders protest, call for Tinubu’s resignation
•  Nigeria's Union Bank starts 50bln naira share sale
•  Ecobank Introduces Cardless Cash Withdrawal Service
•  Africa's Richest Man Ups Ante for PPC With Cash, Share Offer
•  Unintended Result of Nigerian Dollar Hunt Is Naira Shortage
•  Four Nigerian banks trade below minimum liquidity ratio: MPC members
•  Top Five Banks Account for 47% of Industry’s Impaired Credits
•  Nigerian High Court Bans Group Seeking Secession of Biafra
•  Naira to take cue from MPC decision next Tuesday

Tanzania

•  Petra Diamonds profit falls, restarts Tanzania mine
•  TBL emerges top trading at DSE
•  Vodacom shares extend bearish run
•  Tanzanian Leader's War for More Tax Puts Economy in Firing Line
•  Big-time investors pump in $4.250bn

Zambia

•  Zambia Seeking Bidders for New Mobile Provider to Take on MTN
•  Standard Chartered Lends Zambia $134 Million to Finance Roads
•  Zambia to resume talks with IMF over possible aid programme in October
•  Zambia state power firm to end emergency power imports next year

Zimbabwe

•  Low prices affect BNC’s smelter restart plans
•  Junior miner Prospect Resources in $55mln capital raise for Arcadia Lithium project
•  Edgars H1 profit up 420pct
•  Masimba H1 profit up 23pct on increased revenue
•  Axia FY profit up 6pct to $15,3mln
•  Padenga net income doubles in H1, revenues drops 52pct
•  Zimpapers PAT up 93pct to $1mln in H1, revenue falls
•  Money supply, inflation fears the only fundamentals that matter in ZSE’s record bull run
•  Zimbabwe maize reserves at 17-year high 1 mln tones
•  ZSE falls for second day in a row as profit-taking creeps in
•  Zim shelves Botswana pipeline sharing deal
•  Zimbabwe to pay $1.8 billion in foreign arrears only when economy is stronger
•  ZSE extends losses for third day in a row
•  Zim exports to Iran collapse to $1,000, envoy blames banking troubles
•  Vic Falls tourist arrivals up 21pct in H1 on improved air connectivity
•  Zimbabwe's Jan-August gold production rises 10 pct
•  Losses in OK Zim, Dairibord drag ZSE lower

contacts
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