Weekly African Footprint: October 25 , 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 cuts 2013 GDP forecast to 4.4 percent of GDP

Egypt

•  Quarterly profit tumbles at Egypt’s Eastern Company
•  Kuwait gives Egypt 5 years to repay $2 billion deposit
•  Egypt hopes to start oil debt payments by year-end
•  Egypt to raise stimulus by a third, implement minimum wage by Jan
•  Egypt to start paying foreign oil firms by year end-EGPC
•  Egypt says not interested in Israeli gas as plans LNG imports

Ghana

•  Ghana’s Biggest Cocoa Buyer Delays 150 Million-Cedi Rights Offer
•  Tullow Oil, govt in talks over jubilee oil field
•  Ghana’s Terkper Seeks Budget Gap Below 9% of GDP in 2014
•  Bank of Ghana disseminates 2012 Capital flow survey
•  No ban on Ghana cocoa—COCOBOD

Kenya

•  Kenya Power soothes investors with dividend promise in 2014
•  Kenya's Carbacid full year profit up 19 pct, sets bonus share issue
•  Shelter Afrique KES 3.5bn bond starts trading
•  Kenyan shilling holds steady, supported by tea bonus payments
•  Tight liquidity keeps Kenyan shilling steady
•  Kenya finalizing Eurobond mandate with JP Morgan as lead manager
•  Top Kenyan tea prices slide for fourth straight week
•  ICC declines to allow Deputy President to skip hearings
•  Kenyan shilling slips, tight liquidity seen supporting

Mauritius

•  Mauritius trade deficit narrows 21% year on year in August

Nigeria

•  Julius Berger, Stanbic, Lafarge outperform large cap stocks Q3
•  PZ Cussons Records 37% Growth in Profit in Q1
•  Zenith Bank rises to 4-month high on valuation
•  Nigeria's Forte Oil more than triples 9-mth profit
•  Unilever Nigeria says 9-mth pre-tax profit drops 12.8 pct
•  Tiger Brands to Increase Stake in Dangote Flour to 70%
•  Wema Bank Consolidates with N564m Q3 Profit
•  Diamond Bank partners IFC on USD 33m Agric Sector lending
•  Stanbic IBTC introduces mobile money platform
•  GTBank records N82bn profit in 9 months
•  Nigeria Exchange to Lure 500 Companies in Next Five Years
•  Bank lending drops to N13.1tn
•  Nigerian 125,000 bpd refinery catches fire
•  Nigeria’s 40% debt ceiling conservative

Tanzania

•  Tanzania GDP up 6.7% in second quarter, slower than previous quarter
•  Tanzania signs USD 1.7bn energy, construction deals with China

Zambia

•  Swedish companies explores agro potential
•  Zambia suspends 10 pct duty on unprocessed metal exports
•  Zambia records USD 3.6bn investment inflows

Zimbabwe

•  BNC mining plan bears fruit
•  US$5bln needed for platinum expansion
•  Zimbabwe government deficit widens
•  ENRC, China Move Toward Platinum Production in Zimbabwe
•  Fuel prices to go down in November
•  TelOne recovers USD 20m
•  Zimbabwe petrol to be blended with 10% ethanol
•  Zimbabwe revenues miss target as economy slows