Weekly African Footprint: April 21 , 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's inflation rate slows to 6.1 percent y/y in May
•  Botswana cuts interest rates to 8.5%

Egypt

•  Ezz Steel producer obtains EGP 2.8bn loan from local banks
•  15m call for Mohammed Morsi’s ouster

Ghana

•  Private equity firm Abraaj to acquire West Africa's Fan Milk
•  IMF sees strong Ghana growth if vulnerabilities addressed decisively

Kenya

•  Tetra Pak targets 30m customers with low cost packaging materials
•  Kenya shilling flat but vulnerable as investors exit stocks
•  Kenya’s new budgeting process
•  Kenya dismisses investor worries over capital gains tax plan
•  Kenya benchmark coffee price falls at auction
•  Camac Energy to invest $35 million in Kenya exploration
•  Public-private projects slashed for lack of cash

Maurtius

•  Mauritius's AfrAsia Bank CEO Sees Kenya as Next Expansion Step
•  Yield on Mauritius five-year Treasury bond rises to 4.29 pct

Nigeria

•  UBN reports N29.8b in first quarter
•  Liquefied Natural Gas goes to court over tax dispute
•  Market gains NGN 5.2tn as Dangote marks first anniversary
•  Sterling Bank shops for NGN 12.5bn from shareholders
•  Mobil Oil Nigeria is yet to realize potentials
•  Shell Nigeria shuts Trans Niger pipeline after explosion
•  ETI rules out new acquisition
•  May inflation drops to 9%
•  Nigeria says spent $1.2bln on fuel subsidy so far this year

Tanzania

•  Tanzania's CRDB Bank rolls out agency banking to tap new clients

Zambia

•  First Merchant Bank acquires ICB
•  State to spend USD 257m on market access
•  Zambia's Mopani sees copper output at 170,000 T in 5 years
•  Zambia plans to double power output to supply mines
•  Banks keen to list on LuSE
•  Zambia must improve taxation system—report
•  Zambia loses USD 100m monthly in subsidies

Zimbabwe

•  Hwange wants Coal Gasification deal revisited
•  TSL profit up
•  Telecel keen to localise shareholding
•  Dairibord bids for Cairns
•  ZSE to automate by year-end as bourse engages consultant
•  UN withdraws poll funding offer
•  Zimbabwe energy crisis to ease in 2017
•  Govt issues three-year special grant
•  Banking sector safe from BEE laws: Biti
•  Will the IMF programme restore Zimbabwe to past glory?
•  Govt amends electricity act
•  Consumer—facing industries drive ZSE market cap
•  Mugabe criticizes banks