Weekly African Footprint: April 26 , 2013

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

•  Ezz Steel to cut costs, increase profits in 2014
•  Egypt’s Suez Canal revenue USD 398.5m in March
•  Egypt’s OCI says tax dispute settlement in progress
•  IMF, Egypt say working to reach loan deal in coming weeks
•  Italy's Eni wins exploration block in Egypt deep waters
•  Egypt to issue schedule next month for gradual fuel subsidy cuts

Ghana

•  Ghana’s Jubilee oil field nears output plateau
•  Nigeria’s First Bank takes over International Commercial Bank
•  HFC Bank Ghana Sees Slower Loan Growth With Small Business Focus
•  Ghana’s 2013 fiscal deficit to GDP target of 9% realistic
•  Ghana producer price inflation rises to 10.7 pct in Feb
•  Ghana 91-day bill yield falls to 22.9667 pct

Kenya

•  Kenya's Standard Media FY pretax profit up 14 pct
•  Kenya Reinsurance 2012 pretax profit jumps 45 pct
•  Kenyan tax take to improve after peaceful election
•  Kenyan shilling steady, seen firming on bond sale inflows
•  Kenya tea prices inch higher at latest auction
•  Kenyan shilling steady, seen firming on bond inflows
•  Kenyan shares in 10-session bear run, shilling steady

Malawi

•  Malawi inflation slows to 36.4% y/y in March

Maurtius

•  Mauritius 182-day t-bills yield falls to 2.3%

Nigeria

•  GTB posts NGN 28.49bn profit in first quarter
•  MTN Nigeria to sign $3 billion loan deal with banks 21
•  Stanbic IBTC Declares N12bn Profit on N92bn Earnings
•  ExxonMobil signs agreement on 500MW power plant
•  MTN gets NGN 470bn from banks for network expansion
•  GTBank targets 20% loan growth in 2013
•  Dangote Cement says 2012 pre-tax profit jumps 19 pct
•  FG sets aside NGN 40.6bn bailout fund for insolvent TCN
•  Nigeria hands over electricity assets to 15 private firms
•  Plan to phase-out polymer banknotes stirs new controversy
•  Nigerian naira hits 8-month low vs dollar

Tanzania

•  Tanzania signs USD 196.5m loans with the World Bank for energy
•  Mining Set to Change Economic Landscape

Zambia

•  Emerald miner Gemfields reports 7% fall in prices at Lusaka auction
•  Zambia's Konkola says smelter to remain shut for one month
•  Zambia expects to register increase in investment
•  Zambia inflation falls to 6.5 pct in April

Zimbabwe

•  CFI loses land to govt
•  African Consolidated seeks gold in lieu of diamond goal
•  Zim Alloys doubles output
•  Hwange seeks to restructure BOT deal
•  Platinum output at Unki falls
•  ACR to comply with indigenisation law
•  Tobacco Industry and Marketing Board records close to USD 300m in sales
•  Zimbabwe Prepares Law to Seize Company Stakes Without Paying
•  Recapitalisation deadline shows liquidity crisis
•  New power firm registered
•  No amendments to indigenisation law
•  US removes two banks from sanctions list, President raps piecemeal moves, Regime change agenda aborts
•  ZSE hunts for new boss
•  Mining to spur growth: World Bank
•  ZSE delists three firms
•  Biti to conclude SA budgetary support talks