Weekly African Footprint: August 08, 2014

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 IPOs Set for Revival as Etisalat Is Said to Consider Sale
• Egypt's foreign reserves inch up in July to $16.7bn
• Egypt Plans to Build Channel Parallel to Suez Canal
• Egypt seeking $1.5 bln loan to repay oil debts
• Egypt business activity shrinks in July after subsidy cuts -PMI
• Egyptian central bank issues extra bonds on strong demand

Ghana

• Access Bank launches initiative for SMEs
•  Fortunes of Unilever shaken by falling cedi
• Quantum, Golar sign deal for Ghana LNG terminal
• Ghana Turns to IMF for Emergency Help as Currency Crisis Deepens
• Ghana Seeks Restored Policy Credibility Asking IMF for Help
• Illegal mining attracts cocoa farmers
• Cedi woes open BoG’s eyes to country’s tourism potential

Kenya

• Safaricom Expects to Complete Purchase of Yumobile Within Months
• Mumias Sugar gets reprieve as court halts Dubai Bank winding up petition
• EABL taps spirits to recoup revenue lost in Keg price rise
• Centum makes minimal gains at Friday trading
• Uganda’s Umeme biggest gainer at the bourse in July
• Equity in search for new Uganda MD to turn-around struggling unit
• Britam’s partner Acorn to put up Sh40bn property projects
• KCB market value rises above Equity
• KQ signs pact with Airtel for voice and data service
• Safaricom bets on supply chain app to grow M-Pesa earnings
•  Kenya's TransCentury plans $2 bln east Africa investments
• Bamburi Cement to tap Kenya's infrastructure boom as profit tumbles
• East African Breweries' full year pretax profit down 6 pct
•  Kenya's Pan Africa Insurance profit drops 42 pct, shares tumble
• Kenya Woos Private Investors to Regain Pyrethrum Top Spot
• Foreign investors cut key KCB stake in three months
• Nairobi bourse hits 5000 points as KCB soars
• Kenya tea exports up 1 pct yr/yr in Jan-June, output steady: regulator

Malawi

• ·         Malawi President Mutharika Seeks IMF Agreement by November

Mauritius

• Mauritius inflation rate slows to 3.1 pct in July

Nigeria

• Ecobank’s Nigeria Unit Sells $200 Million in Notes for Capital
• Skye Bank grows total assets to N1.131trn
• Diamond Bank’s H1 profit up 9.03% on reduced tax
• Dangote, Blackstone, Carlyle in $5bn tie-up for energy infrastructure
• Margins drive strong AshakaCem H1 pre-tax profit growth
• Stanbic IBTC to raise N30bn Tier II capital
• Dangote signs N165bn integrated rice project with FG
• Dangote Flour Mills posts N4.322bn loss
• FBN Holdings declares N48bn profit, assets hit N4tn
• Etisalat, Nigeria's IHS in sale/lease-back deal for towers
•  Dangote Sugar Refinery Records N10.3bn Half-year Profit
•  Nigerian Production Boosts Chevron’s Second Quarter Income to $5.7bn
•  FBN Capital, Others Seal $350m Oando's Conoco Phillips Assets Acquisition Deal
• Dangote Partners Blackstone, Carlyle in $5bn Energy Deal
• Diamond Bank Woos Shareholders on Rights Issue
•  Foreign investments in NSE rise to N705bn
• Nigerian naira at 160.90 to dollar, strongest in almost three months
• Heavy rains delay Nigeria's cocoa harvest, disease a risk
• Flour Mills Profit Down N2.2 Billion

Tanzania

• Uchumi gets approval to cross-list on Dar bourse
• Tanzania to import over 280,000 T oil products from Addax Energy
• Demand for government securities falls slightly
• Tanzania to import over 280,000 T oil products from Addax Energy

Zambia

• Finance Bank to offload 25% shares
• BoZ maintains monetary policy at 12 percent
• Zambia’s Financial reforms bear fruit

Zimbabwe

• Zimplats to invest $80m in acid plant
• Cairns eyes 35pc growth
• Delta to invest $590 000 in sorghum production
• Afreximbank closes off $150m for Econet
• CBZ net profit drops 20pc
• BNC concentrate output dips 14pc
• ‘Delta Beverages not complying with indigenisation regulations’
• Barclays H1 profit after tax doubles
• Gold exports rake in $240m for first half
• Govt, Russians in $1,6bn mining deal
• Tobacco prices second highest globally
• Cooking oil imports increase