Weekly African Footprint: September 28, 2012

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

•  Islamic investment bank in Egypt wants to buy brokerage
•  Egyptian central bank says happy with currency's value
•  Egypt said preparing coupon system to cut energy subsidies
•  Egypt looks unlikely to hit 4% growth target

Ghana

•  Guinness Ghana Breweries contributes immensely to Ghana's national development
•  BoG lifts sanction imposed on Access Bank
•  Ghana's economic growth slows as oil output falls
•  Economy to register 7.1% growth for 2012

Kenya

•  Eaagads first NSE firm to phase out share certificates
•  TransCentury appoints former tax chief Waweru to East African Cables
•  State supports KQ layoffs citing tough business climate
•  Emirates targets KQ with Africa’s low-fare plan
•  Hotels expand in Kenya as business travel surges
•  KenGen invites bids for 560MW geothermal plants
•  KenGen's year profit jumps 11% to KES 4bn
•  Lonrho returns to Kenya with easy Hotel brand
•  Low share prices cause flight at NSE
•  Tax revenue grows 12.9pc in first two months
•  Airlines hit exporters with higher freight charges
•  Fund Managers take up bulk of Centum bond
•  CBK freezes new rules on bank’s board composition
•  IMF keeps Kenya growth forecast, says elections a risk
•  Foreign firms to pay more for Kenya’s minerals
•  Treasury seeks to raise collections of VAT four-fold
•  New treasury bonds FTSE index set for launch on Oct 3

Maurtius

•  State Bank of Mauritius year pretax profit up 31 pct
• Mauritius central bank holds rates, cuts 2012 growth forecast
•  Mauritius cuts 2012 growth forecast again

Nigeria

•  Guinness sees brighter profit outlook ahead
•  Tiger Brands says Nigerian SEC approves DFM deal
•  Dangote seeks more local investors in Nigeria
•  Access Bank records N26bn half-year profit
•  Shell says Nigeria oil bill will make projects unviable
•  Altech to sell West Africa unit as profit plunges
•  Honeywell Flour Mills shareholders okay N1.19 dividend
•  Consumers push NB plc valuation into NGN 1tn mark
•  Nigerian oil exports to hit 6-month high in Nov
•  Nigerian naira trades flat versus dollar on strong demand
•  FG borrowing costs to fall on declining bond yields
•  NSE to include retail investors after 6 months of market trading
•  Insurers pay NGN 1.22bn claims through NAICOM
•  Nigeria names buyers of five state power plants
•  Nigeria GDP predicted to hit double digits
•  Nigeria seals USD 340m funding pact with U.S
•  SEC extends deadline of share certificate dematerialisation
•  Nigeria parliament opens debate on oil sector overhaul bill
•  Nigeria exports non-oil products worth USD 1.35bn in 6 months
•  FG ready to float new national carrier

Tanzania

•  TBL invests 100bn/- in plants, equipment
•  Tanzania sustained high growth over last decade, says minister
•  Tanzania says to restructure oil, gas regulator
•  T-bills auction yields positive result
•  Tanzania central bank: CPI seen easing to 10% by year-end

Zambia

•  ZACCI welcomes the Eurobond
•  AfDB plans infrastructure development bond for Zambia
•  K450bn ZB Ndola plant ready November
•  ZSIC posts steady growth
•  Zambia’s non-traditional export hit USD 1.8bn
•  Zambia sees inflation at 7% in 2013- central bank governor
•  Woo agro-investors to Zambia, Princess Anne urged
•  60,000 farmers benefit from EU
•  State committed to private sector investment

Zimbabwe

•  Afrofood in liquidation
•  Starafrica asset disposal hits snag
•  SECZ blocks Interfin, Remo share transfer
•  BNC set to resume operations
•  Zimplats tax row ends
•  PG seeks USD 10m for working capital
•  Rio Tinto sell small South Africa coal assets
•  PGI narrows loss
•  Mwana could need USD 25m for BNC
•  Sino-Zim trade to reach USD 1bn
•  Dawn properties income up 10%
•  SA promises to bail Zim out
•  IMF sees Zimbabwe rapid growth slowing
•  Zimbabwe’s rapid growth seen slowing to 5%: IMF
•  No joy for ZSE boss
•  IMF urges reforms