Weekly African Footprint: June 06 , 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

•  Dubai's Arabtec says to float unit's shares in Egypt
•  Egypt's Suez Canal revenues rise 8.9% in April Y-O-Y
•  Egypt business activity shrinks in May: PMI
•  Egypt foreign reserves dip to $17.284 bln at end-May

Ghana

•  TECNO wins Smart Phone of the Year award
•  Gold Fields Ghana wins Platinum
•  Oil production is raising cost of living
•  Employment Ministry to establish Maritime Labour Unit
•  Gov't targets up to $5bn in foreign direct investments
•  Trade Minister inaugurates GIPC Board

Kenya

•  KCB seeks to grow customer numbers by three million
•  Nation Media to install Sh1.5bn press mid next year
•  Co-op Bank eyes Ethiopia joint venture
•  Equity woos clients with phone loans in mobile banking bid
•  KCB set for Sh2.2bn system upgrade
•  Inflation rise to six-month high signals increase in interest rate
•  Firms plan Sh50bn cash calls on rising business confidence
•  Kenya pays Sh1.2bn in syndicated loan interest to local banks
•  Kenya imposes new rules to rein in commercial loan costs
•  Kenya starts marketing Sh135 billion Eurobond
•  Kenyan economy to expand 6.4 pct in 2015: Eurobond document
•  Kenya coffee prices ease at latest sale

Mauritius

•  Mauritius inflation rate at 3.40 pct in year to May

Nigeria

•  First Bank Concludes Acquisition of ICB Financial Group
•  Access Bank Mulls London Stock Exchange Listing
•  Ecobank Partners FG, Akwa Ibom on MDGs Fund
•  GTBank Launches e-Commerce Portal for SMEs
•  Skye Bank Rewards Shareholders
•  Dangote Sugar Boosts Products Distribution with 380 New Trucks
•  Lafarge dedicates N1.3bn to provide affordable housing for low income earners
•  Helios invests N8bn to acquire stake in ARM Pension
•  Lafarge Seeks Merger to Rival Dangote Cement
•  UPDC Shareholders Get Dividend, Bonus Shares
•  Skye Bank Set to Boost Cashless Policy with New Solution
•  Diamond Bank Upgrades Mobile Application
•  Guinness Nigeria Partners Health Ministry on Responsible Drinking
•  Naira Appreciates on Dollar Inflow from Oil Firms
•  Foreign Investors Pick Interest in A’Ibom Sea Port
•  Nigeria's new central bank chief starts work, naira in focus
•  Rebased GDP: Capturing true contribution of insurance sector to the economy
•  New Nigeria central bank chief flags lower interest rate goal

Tanzania

•  Tigo Tanzania adds 1 million mobile money users, eyes further growth

Zimbabwe

•  Zimplats to refurbish base metals refinery
•  Delta to upgrade its plant, machinery
•  Mashonaland Holdings Limited records 28% decline
•  Barclays to raise US$100m for business
•  Willdale rights offer raises $3,2 million
•  Innscor to invest $24m in production lines
•  Lafarge to ramp-up production
•  Cheap imports take toll on Natfood’s volumes
•  PPC domestic sales decline
•  Reserve Bank cancels Capital Bank licence
•  European Investment Bank delegation expected in Zim