Weekly African Footprint: August 30, 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.

Botswana

•  Trade deficits return as diamond exports drop

Egypt

•  Electrolux restarts full production in Egypt
•  Egyptian cabinet approves $3.2bln economic stimulus plan
•  M2 money supply rises 19.4% in year to end-July
•  Apache sells Egyptian oil stake to Sinopec for USD 3.1bn, forms global JV
•  EGP 22.353 bn added to investment budget as an urgent measure

Ghana

•  Union Bank makes profit
•  Newmont agrees to renegotiate mining agreement
•  Ghana signs timber agreement with EU
•  Ghana’s Cocobod sees light crop output at 150,000T

Kenya

•  Kenyan grower Kakuzi half-year pretax profit dips
•  Old Mutual to Expand Products in Kenya as Industry Grows
•  Total Kenya swings back to profit in first half
•  Britam net profit up 28.5pc
•  Kenya Commercial Bank first-half pretax profit up 19 pct
•  Scangroup first-half profit hurt by Nigerian unit
•  Kenya has been slow in fighting hunger, says UNDP
•  Kenyan shilling seen firmer on tea sector dollar inflows

Mauritius

•  364-day Treasury bill yield falls to 3.08
•  Mauritius trade deficit narrows 12.1 pct yr/yr in June

Nigeria

•  Shell says its containing oil spill Nigeria’s Delta
•  Shareholders endorse sale of 57% stake in Champion Breweries
•  Ecobank partners FG on MDGs funds
•  Again, GTBank, Zenith upped the Ante with half year results
•  Oando reduces debts by N53bn
•  Dangote to borrow USd 3.3bn for USD 9bn Nigeria refinery
•  FBN Holdings says H1 profit up 2.5% yr-yr
•  NSE lists Transcorp’s Rights Issue of 12.9 billion shares
•  GTBank boosts shareholders liquidity with NGN 7.4bn interim dividend
•  First Bank predicts 10% decline in loan growth
•  Forte Oil posts NGN 1.4bn half year profit
•  World Bank, others partner Nigeria on GDP rebasing
•  Nigeria power privatisation bidders complete payments
•  Financial inclusion in Nigeria rises to 60%
•  Nigeria seeks advisers for $100 mln diaspora bond
•  Nigeria picks Goldman, Credit Suisse, UBS for wealth fun
•  External reserves drop to USD 46.87bn as Naira hits one year low

Tanzania

•  Cement maker loses 20pc in total revenue
•  Gas-rich Tanzania to start power exports in 2015

Zambia

•  Zambeef set to exceed USD 30m in exports
•  Zambia’s economy boosts business production
•  Zambia's consumer inflation slows to 7.1 pct y/y in August
•  Kwacha gains on dollar flow

Zimbabwe

•  Trade investments propel ZB holdings
•  Indian firm wins Hwange tender
•  AfrAsia Kingdom mulls $50m rights issue
•  Ecobank posts $1,2 m half-year profit
•  Steelnet faces steep debt struggle
•  RBZ Agrees To Pay Meikles Debt
•  Econet still under probe
•  CABS posts solid growth
•  Dairibord suffers half-year loss
•  Afdis earnings decline
•  Mining key to growth
•  Zimbabwe unveils investors’ guide
•  Gold deliveries up 4.6%
•  Zimbabwe ranked in Africa's top 10 growing economies
•  Zimbabwe income declines
•  ZSE automation to double share volumes