Weekly African Footprint: January 17, 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

•  Orascom Construction suspends tax payment to Egypt
•  Egypt aims to buy 4m tones of local wheat
•  Egypt c.bank leaves key overnight rates on hold

Ghana

•  Drop in Ghana’s currency spurs cocoa smuggling to Ivory Coast
•  Ghana 91-day bill yield rises to 19.4085%
•  Ghana Will Allow Trading in Chinese Yuan This Year, Wampah Says
•  Ghana Bourse Sees 3 Listings Lured to Africa’s Best 2013 Rally
•  Ghana consumer inflation rises to 13.5 pct in December
•  GSE targets six listings in 2014

Kenya

•  Britam of Kenya Is Said to Plan Acquisition of Money Manager
•  Tullow ups Kenya oil estimates after two more discoveries
•  KenGen targets Sh15bn in rights issue for growth
•  Mumias eyes cost-cutting to reverse Sh1.6bn loss
•  Kenya's KCB bank will continue operations in conflict-hit South Sudan
•  Kenya shilling gains against the dollar
•  Kenya shilling holds steady, debt inflows eyed
•  Economic recovery helps boost Kenyan tax revenue
•  Kenya keeps interest rates on hold again, says inflation stable
•  Top price of highest grade tea rises at Kenyan auction
•  Top price of benchmark Kenyan coffee slides at auction
•  World Bank sees higher price for Kenya Eurobond
•  Kenyan GDP growth seen at 5.8 pct in 2014
•  Kenya edges towards oil production, hurdles remain

Mauritius

•  Mauritius 273 Day treasury bills yield falls at auction

Nigeria

•  Oando lead gainers on investors renewed demand
•  Oando Says It Raises $1.6 Billion for Conoco Assets Acquisition
•  Ecobank Moves to Strengthen Corporate Governance
•  Five Dangote’s cement plants to be completed in 2014
•  Six banks maintain market dominance
•  Nigeria inflation edges higher to 8% y/y in December
•  First Equity Exchange traded Fund gets approval
•  NSE to protect investors via surveillance programme

Zambia

•  Dangote cement operations to strengthen ties
•  State approves quoting ZSIC on LuSE
•  Zambia in $115m irrigation boost
•  Kwacha shows signs of appreciation
•  Zambia Hires Deutsche Bank, Barclays for Planned Second Eurobond
•  Zambia 2013 copper production rises to 915,773 tonnes
•  New Zambia constitution curbs president
•  Rand volatility affects Kwacha performance

Zimbabwe

•  TSL to acquire premier forklifts
•  Africa Sun to finalise debt restructuring
•  Innscor courts Mauritian funding
•  ZB merger at advanced stage
•  Willdale suspends talks with Chinese investor
•  Afdis concludes rights issue
•  Another USD 5m earmarked for legislators
•  Zimbabwe mining royalties, dividends to fund new SWF
•  Tobacco to ease liquidity crunch
•  Probe on listed firms continues
•  Zimbabwe economy to grow 4.2 pct in 2014
•  Zimbabwe inflation slows to 0.33% y/y in December
•  Institutional investors turn to money market