Weekly African Footprint: July 20, 2012

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

•  Sese coal to be sold to Asia
•  Draft constitution expected in two weeks

Egypt

•  Egypt army chief, Islamists raise stakes
•  Clinton talks democracy with Egypt’s generals
•  Economy is recovering, says Minister Abouelnaga

Ghana

•  Ghana's Fan Milk says H1 profit up nearly 31%
•  Oil is Ghana’s best investment driver
•  Govt presents supplementary budget to Parliament on 18 July 2012
•  Fuel prices to go up?
•  GGhana to increase deficit before elections

Kenya

•  Swiss firm to take over KenoKobil
•  ourt allows CMC Holdings to purse KES 1.5bn claim from two former directors
•  Housing Finance raises dividends by 40% despite profit slowdown
•  Athi River CEO inherits shares worth KES 3.5bn
•  Consolidated Bank upbeat as bond issue closes
•  Olympia lifts dividend freeze, eyes new deals
•  Kenya to map out new oil blocks for auction
•  Fresh dispute hits mobile termination fee deal

Malawi

•  Malawi says aid flowing back with IMF backing
•  Malawi economy still looks gloomy
•  Malawi inflation quickens to 20.1% in June

Maurtius

•  Mauritius H1 tourist arrivals tick up 0.5%
•  Mauritius re-opens 3-yr Treasury notes at 5.50%

Namibia

•  Namibia inflation slows to lowest this year
•  Consumers get a break as prices ease

Nigeria

•  Ecobank seals 7-yr deal with French, Belgian firms
•  Nigeria's Skye Bank H1 profit jumps 36%
•  Dangote Sugar surpasses profit projections for first quarter
•  Diamond Bank’s second quarter profit rises by 408%
•  Shell faces USD 5bn fine over Nigeria Bona oil spill
•  UACN to acquire majority equity stake in Portland Paints
•  Dangote exports sugar to Ghana, Gambia, others
•  Transcorp grows profit by 41% in second quarter
•  Power Privatisation: Dangote, WEMPCO miss bid deadline
•  Nigeria's Diamond Bank revised 2012 ROE target to 15%
•  Nigeria's Access Bank plans USD 350m Eurobond
•  Nigerian oil firm Conoil says 2011 profit up 9 pct
•  Nigerian oil firm Oando says H1 profit down 20%
•  First quarter profit boosts investors’ interest in UBA shares
•  UBA to obtain Zambian banking licence
•  Nigeria begins fuel import from Niger
•  Cement price to remain high on supply constraint
•  Nigerian naira firms on Shell, NLNGs dollar sales
•  Nigeria inflation rises ahead of rate decision
•  Director General of the SEC recalled
•  SEC to tighten regulation of collective investment schemes
•  Nigerian president sends oil law to parliament
•  Nigeria signs USD 1.49bn railway deal with China
•  Nigeria says oil savings account holds USD 6bn

Tanzania

•  African Barrick Gold to spend 22bn to relocate villagers
•  Tanzania inflation eases on lower food, fuel costs
•  Tanzania changes T-bills, bonds’ trading rules
•  Dar exchange set to open up to foreign investors

Zambia

•  New USD 8m limestone plant in Masaiti
•  Zambia Sugar expected to exceed 400,000 tonnes
•  Government to fortify anti-dollarisation order
•  Recapitalisation of banks to improve capital base
•  German firm to invest in textile and medical sectors
•  Goods prices expected to rise
•  IMF sees Zambia 2012 inflation around 6%

Zimbabwe

•  Sinosteel seek Zimasco equity exemption
•  RioZim ends toll refining agreement
•  NSSA’s Renaissance investment gets the nod
•  Time Banks seeks Mugabe’s intervention
•  Econet owed USD 85m by NetOne and TelOne
•  Annual inflation slows to 3,97%
•  Mining sector growth rate to rise to 16,7%
•  Justice minister says Referendum Act valid
•  Zimbabwe tourist arrivals up 18%
•  All eyes on Finannce Minister Biti
•  World welcomed to invest in Zimbabwean mining
•  New Zimbabwe constitution completed