Weekly African Footprint: September 27 , 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

•  GB Auto bets on Geely cars and expansion beyond Egypt
•  Real estate investors shun Egypt as foreign firms retreat

Ghana

•  Ghana’s ICB acquired by First Bank of Nigeria
•  Ghana’s economy still wobbles on huge deficit
•  Ghana Post strategizing to revive dwindling fortune
•  Ghana makes modest gains in economic freedom
•  Ghana Gas pays another batch of crop compensations
•  Ghana’s debt manageable—Gov’t responds to minority
•  Government launches Public Expenditure Report

Kenya

•  Sugar millers move closer to privatization
•  Tullow makes fourth oil discovery in Turkana
•  Westgate insurer faces Sh6.6 billion compensation bill
•  Kenyan shilling weakens modestly after attack
•  Stockbrokers and regulator tussle over proposed law

Mauritius

•  Mauritius trims 2013 economic growth forecast to 3.2%
•  Mauritius seen holding repo rate steady at 4.65%

Nigeria

•  Profit taking hits JIB’s shares after 522% surge
•  Heritage Bank supports SMEs’ growth
•  Stanbic IBTC partners firm on agric financing
•  Ecobank, AGF sign USD 50m agreement to support SMEs
•  Honeywell Flour Mills shareholders get NGN 1.3bn in dividends
•  Continental-Re rewards shareholders with 10K dividend
•  Dangote Cement orders new Loesche mill for Ibese
•  Ecobank, AGF seal $50m guaranteed facility for SMEs’ development
•  Honeywell Flour Mills declares N2.84b profit
•  PZ Cussons seeks shareholders’ approval for N2.2bn dividend
•  Diamond Bank Launches International Debit Card
•  Nigeria to raise 135-235bn naira debt in Q4
•  Interbank rates fall on inflow from NGN 157bn matured treasury bills
•  Banks’ deposits with CBN rise to NGN 2.8tn
•  Nigeria Fastest air travel market in Africa

Zambia

•  Stanbic Bank Zambia, John Deere sign pact
•  Zambeef leader, role model in Africa
•  Infrastructure expected to be key in 2014 budge
•  IMF, State to extend credit facility
•  Zambia’s economy is growing – Sata
•  Zambia’s capital market buoyant
•  Pension industry in increased assets

Zimbabwe

•  Meikles stores feels the heat
•  Pelhams forecasts half-year loss
•  Zimplow secures USD 5m line of credit
•  GB Holdings records loss
•  Meikles Hotel completes USD 8m facelift
•  Econet expands EcoCash platform
•  Bindura Nickel converts debt to equity
•  Econet launches drought cover
•  RBZ offloads Astra stake
•  Tourism set to earn USD 1.5bn by 2015
•  Zimbabwe engages AFDB
•  Zimbabwe mining companies stock market participation still low
•  Multi-currency to stay
•  Mining sector in 35pc growth