Weekly African Footprint: September 25, 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.


Egypt

•  Egypt's GASC buys 230,000 tonnes Ukraine, Russian, French wheat
•  Telecom Egypt appoints Waleed Gad new chairman: statement

Ghana

•  Fitch affirms Ghana at 'B' with negative outlooks
•  Ghana May See Debt Costs Fall After Escaping Credit Downgrade
•  Ghana's cocoa grinders grapple with crop failure
•  Interest rates will soon reach 42% - Chamber of Commerce

Kenya

•  Kenya's Longhorn full-year pretax profit drops 34 pct
•  Kenya central bank seeks to mop up 3 bln shillings in liquidity
•  Kenya's shilling eases on energy, telecom sector dollar demand
•  Kenyan shilling eases as importers seek dollars, eyes on c.bank meeting
•  Kenyan central bank holds rates, sees inflation risks
•  Kenya's shilling gains on talk of central bank selling dollars
•  IMF revises projections of Kenya's GDP
•  Kenya's one-year Treasury bond yield rises to 19.441 pct

Malawi

•  Malawi's economy to grow by 5.4 pct in 2015: central bank

Mauritius

•  Mauritius current account deficit widens in second quarter
•  Mauritius trade deficit widens 12.9 pct in July

Nigeria

•  Nigeria's state oil company secures $1.2 bln drilling financing package - NNPC
•  Fidelity Bank Commences Saturday Banking Services
•  Nigeria's Conoil H1 pretax profit falls 64 pct
•  Foreign investors withdraw N410bn from stock market
•  Nigeria central bank cuts reserve ratio to boost liquidity
•  Nigerian firms in trouble as central bank measures backfire
•  FG Partners China on Agricultural Development, Woos Chinese Investors

Tanzania

•  TBL conducts professional training for vendors
•  Tanzania power firm TANESCO says aims to clear arrears by end-2016
•  Credit to private sector remains strong
•  Tanzania aims to open capital markets further in Dec: central bank

Zambia

•  Glencore's Zambian unit plans to cut more than 3,800 jobs: govt sources
•  Zambia will be exporting power in a year - president
•  China firm awarded contract to build roads in Zambia's copper belt
•  Zambia's September inflation quickens to 7.7 pct year/year
•  Zambia's chamber of mines says power crunch to widen job cuts

Zimbabwe

•  Rainbow Tourism Group slips into $1,9m loss Pearl revenues declines by 3,85%
•  Fidelity in $2 million downpayment for Langford Estate
•  African Sun in management deal with Legacy Hotels, exits West African operations
•  GB Holdings halves loss
•  Hippo Valley applies for licence to supply ethanol to local market
•  Masimba Holdings revenue dips by 30%
•  Caledonia says $70mln investment to cushion against price fluctuations
•  Innscor FY revenue 7pct down to $814mln, shakes-up management in key units
•  Choppies reports higher FY revenue from Zim operations
•  IMF says could resume Zimbabwe funding as early as 2016

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