Weekly African Footprint: July 05 , 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

•  Botswana GDP shrinks 2.2% in first quarter of 2013

Egypt

•  Morsi refuses to quit amid new bloodshed
•  Egypt share index falls 1.7% ahead of army deadline
•  Top judge sworn in as interim Egypt president
•  Egypt Yields Drop Most on Record as Stocks Jump as Mursi Ousted
•  Egypt bourse suspends trade after index leaps 6.4 pct

Ghana

•  Ghana Reinsurance to increase capital
•  Govt makes proposals on international business transact
•  Microfinance companies kick against new minimum capital requirement

Kenya

•  Tullow Oil reports Kenya exploration success
•  StanChart to launch Islamic banking in Kenya, Indonesia
•  Tourist arrivals decline sharply during low season
•  Banks to pilot online tax remittance system
•  Kenya Plans to Re-Introduce Legislation to Remove Tax Exemptions
•  Kenyan shilling weakens slightly, may stay in tight range

Maurtius

•  Mauritius annual inflation unchanged at 3.6% in June

Nigeria

•  Sterling Banks’s NGN 12.5 Rights Issue excites shareholders
•  Oando joins NSE 30 Index as exchange reviews market indices
•  Continental-Re partners Swiss-Re to develop life assurance in Africa
•  Nigeria’s Dangote Vies With China Over Tomato Market
•  Access in 5-year bullish strategy
•  Oando Resumes Dividend Payment with N5.1bn
•  UACN acquires 51% stake in Portland Paints
•  Insurance sector contributed below 1% of GDP in 2012
•  World Bank approves $300m for Nigerian farmer
•  Nigeria’s USD 1bn Eurobond four times over subscribed
•  Nigeria to issue 74.56 bn naira in 3 month, 9 month T-bills
•  Naicom sanctions 48 insurance firms over reporting deadline
•  SEC bullish on IPOs, approves NGN 57bn new issues in 6 months
•  Nigeria seeks farming revival to break oil curse
•  Nigeria to sign off on $3 billion in Chinese loans
•  Free trade to generate NGN 2.4tn investment in 2018
•  CBN explains restriction of Telcos from mobile banking services

Tanzania

•  Tanzania Raises 2013-14 Coffee Crop Forecast on Data Recasting
•  Dar es Salaam, Malaysian Firms Ink Multibillion Shilling Deal

Zambia

•  Gemfields estimates full-year auction revenue to fall 46%
•  First Quantum expects to restart Zambia work within 2 weeks

Zimbabwe

•  Hwange gets new machinery
•  South African firm to buy into CFI
•  Starafrica insolvent
•  Interfresh to raise US$3 million
•  TA Holdings profits dip to US$3.2m
•  Struggling PG Industries in sales upturn
•  Econet in bid to recover $12m from NetOne
•  AICO performs below expectation
•  CFI sets sights on long-term capital
•  Ariston profit rebounds
•  OK woos Diaspora cash
•  Delta ‘sows’ US$3m into sorghum production
•  Econet rebrands bank, capital now US$75m
•  TelOne seeks $30 million
•  Turnall to increase revenue base
•  Cost of living up
•  World Bank upbeat on Zimbabwe
•  ZIA okays projects worth US$134m
•  Tobacco earnings top US$577 million
•  Investment projects implementation low—AFDB
•  Tsvangirai, Ncube agree election coalition deal