Weekly African Footprint: November 29, 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.

Egypt

•  Egypt issues law restricting protests
•  Egypt to start fuel subsidy cuts in 2014
•  Egypt draft charter deflates hopes for change

Ghana

•  ABL to expand operations with USD 100m
•  Ghana gets USD 22m agric support from USAID
•  Ghana Seeks Okay for Third Eurobond as Power Fund Planned
•  Ghana Central Bank Keeps Benchmark Interest Rate Steady at 16%
•  Finance Ministry disagrees with Fitch Rating

Kenya

•  Kenya's I&M Bank 9-month pretax profit up 38 pct
•  Kakuzi warns 2013 pretax to be down 25% or more
•  Kenya's NIC Bank says 9-month profit up 16 pct
•  KenGen replaces chair, targets equity sale with 7.7bn shar
•  Kenyan shilling eases slightly, seen under pressure
•  Next Eurobond targets at least USD 1bn
•  South Africa’s FNB targets entering Ghana retail banking by end of 2014
•  Kenya Postpones Renewable Energy Drive to Reduce Power Costs
•  Kenya shilling holds steady before inflation data

Mauritius

•  Mauritius trade deficit widens 48% year-on-year in September
•  Mauritian Yields Rise to Highest in Year on Inflation Outlook

Nigeria

•  Shell shuts Nigeria gass plant on safety concerns
•  Commercial paper rises to NGN 29bn
•  GSK Nigeria Optimistic Parent Will Agree to Take Stake
•  Skye Bank explores retail opportunity in unbanked market
•  SAB Miller in more difficulties as Nigeria’s brewing industry slides
•  Lafarge to sell excess electricity to help boost Nigeria output
•  Nigerian Breweries to commission Aba can line in December 2013
•  GTBank Strengthens Internet Banking Platform
•  Nigerian inflation could fall to 5% by end of 2015: central bank
•  CBN to revert to paper banknotes before June 2014
•  Nigeria to open bidding for 31 marginal oil fields next month
•  Foreigners invest N864bn in Nigerian bonds

Tanzania

•  Vodacom to pay ZAR 2.5bn to hike Tanzania stake
•  NMB launch a special business account

Zambia

•  Govt to take bold decisions on KCM
•  Zambia raises external debt ceiling to over $6 billion
•  Zambia's consumer inflation ticks up to 7.0 pct y/y in November

Zimbabwe

•  Innscor’s business model reaches maturity
•  Old Mutal in USD 100m property projects
•  Cairns deal almost done
•  IMF still monitoring Zim progress
•  Astra profit declines
•  EcoCash to start offering loans to subscribers
•  Meikles Freda overtures flop
•  Indigenised mine ups dividend 20pc
•  Zimplats to set up refinery in Zimbabwe
•  Dawn Properties restructures lease agreements
•  Aico writes down US$30m
•  Mash Holdings full-year earnings decline
•  Government needs US$200m to recapitalise RBZ