Weekly African Footprint: July 27, 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

•  Mining sector records growth
•  S&P maintains Botswana’s stable credit ratings
•  Botswana can be an oil producer

Egypt

•  Citadel first quarter jumps by 43% on loan fees
•  Budget projects 12.5% higher deficit in 2012/13
•  Egypt to sign electricity swap deal with Saudi Arabia to deal with summer demand
•  Egypt sells reopened bonds worth EGP 1.9bn
•  Egypt relies on central bank to finance growing deficit
•  Egypt central bank holds rates, sees growth risk

Ghana

•  Tullow Ghana fields have higher share of oil than estimated
•  GOIL holds 43rd annual general meeting
•  Brazil to boost Ghana’s agric with USD 96m
•  As Ghana mourns president, focus turns to election race
•  Standard & poor Ghana ratings unaffected by president’s death

Kenya

•  Safaricom unveils new offer on call rates
•  Kenya's NIC prices rights issue at KES 21
•  Kenya's TransCentury pretax profit surges in H1
•  East African Cables' H1 profit jumps 57.5%
•  Athi River Mining half-year net profit increases by 25%
•  Lonrho to re-enter Kenya hotel business
•  Centum plans share-sales to fund new deals
•  TransCentury cuts reliance on EA Cables
•  Kenya's biggest banks see stronger H2
•  Marathon Oil expands into Kenya with exploration deal
•  Share records to go fully electronic at Nairobi bourse

Maurtius

•  Sun Resorts swings to a loss as tourists dwindle
•  Mauritius May trade deficit widens 23.5% year on year

Nigeria

•  NB Plc to invest NGN 15bn on new lines at Aba
•  Flour Mills announces new structure, investments
•  Union Bank risks delisting over violation of listing requirement
•  Lagos seals cement deal with Dangote and Lafarge Cement
•  OANDO announces closing date for reverse takeover of Exile Resources
•  PZ Cussons full-year profit slips on Nigeria, higher costs
•  Nigeria's Stanbic up nearly 2% on H1 results
•  Nigeria Nestle H1 profit up 24% year on year
•  Nigeria Zenith Bank H1 pretax profit rises 36%
•  Skye Bank raises return on equity
•  Stanbic IBTC assures operators, shareholders on holding company structure
•  PIB critics outline concerns
•  Era of bank failure over, says AMCON
•  Nigeria faces further oil revenue decline
•  Nigeria's oil exports set to fall to 11-month low
•  Government Bonds, treasury Bills threaten real sector
•  Government approves USD 5bn fine against shell
•  Government to build USD 4bn coal power in Benue
•  CBN leaves interest at 12%
•  FG targets USD 10bn excess crude account, USD 50bn foreign reserves by December
•  Nigeria accuses fuel traders of USD 2.4bn fraud
•  Nigeria to spend USD 1.2bn on cassava, rice processing plants importation from China
•  Nigeria state-oil firm says owed USD 7bn in subsidy
•  Nigeria seeks USD 60bn war chest against economic turmoil
•  Italy's Saipem wins USD 800m contract in Nigeria

Tanzania

•  Tanzania Telecommunication Company selects Japan’s NEC for Last Mile Connectivity
•  Tanzania: Dar Gets EUR 250bn grant
•  Tanzania rain a big boost to coffee output
•  Tanzania – Egypt trade expands to USD 50m
•  Tanzania current account deficit to widen to 15%

Zambia

•  State to meet USD 1bn worth foreign direct invest from India
•  Banks assets rise
•  AfDB projects Zambia’s economy growth
•  Kwacha strength remains unchanged
•  Zambia CPI slows to 6.2% y/y in July

Zimbabwe

•  Econet wants telecoms fund scrapped
•  Foreign investor snaps up 27m TSL shares
•  Bindura Nickel creditors accept settlement plan
•  Rio AGM scheduled for 17 August 2012
•  Cambira Listing on ZSE in Limbo
•  Delta to commission two new packaging lines
•  Mauritian firm to build power plant in Mutare
•  Reserve Bank Governor to increase capital thresholds
•  EU to lift sanctions after Referendum
•  Government steps us efforts to recapitalise RBZ
•  Concerns over mining revenue
•  Tobacco marketing to be decentralised
•  Government fixes cotton price, warns buyers
•  Zimbabwe pays Zambia USD 15m for Kariba
•  CZI to adopt regional survey format
•  Tobacco selling season ends