Weekly African Footprint: August 15, 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's Amer Group H2 net profit up 28 pct
• Telecom Egypt posts 14 pct rise in Q2 profit, proposes dividend
• Egypt's Medinet Nasr sees 3% rise in profits in 1H/14
• Egypt's main index down on profit making
• Egypt to hold price for local wheat steady
• Egypt's annual core inflation was 9.35 pct in July -central bank
• Egypt's consumer inflation jumps to 10.6 pct in July
• Russia to boost wheat supplies to Egypt, mulls free trade zone: Putin
• Egypt's main index slightly up, while broader indices decline
• Egypt's stocks hit nearly 7-year high, despite protests

Ghana

• Ghana Economy is falling down and lesson for Nigeria from 2014
• BoG revises foreign exchange rules
• Tougher times ahead — AGI
• Ghana annual inflation rose to 15.3 pct in July
• BoG outlines roadmap to cash-lite economy
• Mixed reaction over latest revised BoG forex rules

Kenya

• Bamburi ups dividend even as profit dips
• Drop in Senator sales hits 20,000 sorghum farmers
• Barclays Bank of Kenya says H1 pretax profit up 12 pct
• Kenya's NIC Bank gets approval for bond issue
• Kenya's Co-op Bank to expand in the region after solid first half
• KCB’s earnings to get boost from new fee income
• Kenya's Diamond Trust Bank profit jumps 17 pct on higher lending
• Kenya's Diamond Trust bank raises 3.6 bln shillings for expansion
• DTB’s Tanzania, Uganda units lift half-year profit to Sh2.94 billion
• StanChart Kenya H1 profit buoyed by higher lending
• Kenya Reinsurance 1st-half profit up 6 pct on new business
• High demand likely to drive oversubscription of NSE offer

Malawi

• Malawi inflations slows to 22.3 percent in July

Mauritius

• Air Mauritius passenger numbers up, Q1 loss narrows

Nigeria

• Forte Oil Records 152% Increase in Half-Year Profit
• Diamond Bank Urges SMEs to List on NSE
• GE, Dangote to Partner on Power Projects
• Dangote, GE make case for strong integration in Africa
• MRS Oil Nigeria’s profit gains 200% in 2013
• Honeywell Flour Mills Grows Profit to N3.5bn
• Nigeria fuel retailer Conoil 2013 pre-tax profit quadruple
• PZ Cussons Nigeria full-year pretax profit falls 9.3 pct
• Dangote Cement gives Nigerian market 29MTs of cement pa
• Dangote Sugar H1 revenue declines on gas supply shortage
• Other incomes catapult Conoil 2013 profit
• Transcorp Names Nnorom New CEO, Targets $1bn Profit
• $14bn Obama Initiative: US, Nigeria Begin Collaboration on Infrastructure Financing
• Nigeria’s Foreign Trade Increases to N5.51tn in First Quarter
• Nigeria’s Cocoa Prices Fall as Mold Reduces Quality
• Foundation Plans to Reward Dividend-paying Companies
• Nigeria’s Domestic Debt Now 9.2% of Revised GDP
• Nigerian Banks to Intensify Capital Raising
• Poor Gas, Power Supply Ground Manufacturing Sector
• DMO Raises N100bn Bonds at Higher Yields

Tanzania

• Swala shares gain on listing day at Dar bourse
• Strong Lending Drives Up NMB Profit
• More growth as Dar opens to American investors
• Tanzania's investment climate attracts Spanish firms, says diplomat

Zimbabwe

• CBZ targets to keep bad loans at 8pct, CEO
• Cairns close to recap, debt deal with SA partner
• ‘BNC revenue to surge to $98,6m’
• Hwange set to treble output by year end
• Meikles Mega eyes Gweru
• Zimbabwe Banks’ Performance Weaker in First Half, Exotix Says
• Farmers welcome new grain prices