Weekly African Footprint: April 15, 2016

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's urban inflation falls in March for third consecutive month
•  Egypt to cut fuel subsidies as gov't seeks to reduce deficit
•  World Bank set to provide Egypt with first $1 billion of $3 billion loan

Ghana

•  World Bank set to provide Egypt with first $1 billion of $3 billion loan
•  Bank of Ghana governor plans to fight inflation, boost growth
•  Cedi stability boosts mortgage market confidence

Kenya

•  National Bank under microscope as Kenya steps up sector clean-up
•  Kenya's KCB Open to Banking Deals After Third Lender Collapses
•  Airtel seeks agents to build mobile money clout
•  Kenya central bank to help banks that face liquidity pressure
•  Kenya says to get $600 mln from China to help fund 2015/16 deficit
•  IMF defends negative interest rates despite risks
•  Kenya's Eurobond may suffer from emerging markets gloom
•  Kenya seeks more private investment in public infrastructure plans
•  Kenya Says in Final Stages of Arranging $600 Million China Loan
•  Kenya central bank evaluating offers for Chase Bank after closure

Malawi

•  Malawi's economy grew 3 percent in 2015, seen at 5.1 percent in 2016
•  Malawi declares national disaster after drought as food shortage looms

Mauritius

•  Mauritius says tourist arrivals up 12.5 pct in Q1

Nigeria

•  Dangote commences work on Okpella cement plant
•  PZ Cussons Pays 70% Premium for Dollars in Nigeria on Shortage
•  Dangote Industries Limited Repositions Flour Subsidiary to Deliver Value to Stakeholders
•  Nigeria considers selling Chinese Panda bonds
•  Nigeria's Oil Production Rises Marginally
•  Nigeria wants to boost non-oil income by 87 pct to offset oil slump
•  Nigerian stocks down after MSCI says could remove Nigeria from frontier index
•  Nigeria agrees currency swap with China to shore up naira, help fund deficit
•  Nigeria's inflation rises to almost 4-year high in March
•  Nigeria LNG pays N10.9tr to Government, JV, shareholders
•  World Bank Ranks Nigeria Low on Ease of Doing Business

Tanzania

•  Postal Bank profit climbs 17 per cent
•  Tanga Cement profit declines
•  Acacia Mining to pay $20m in corporate tax in 2016
•  Bank M Q1 profit increases
•  AccessBank injects 8bn/- extra capital

Zambia

•  AccessBank injects 8bn/- extra capital

Zimbabwe

•  Bakers Inn eyes regional markets
•  Seed Co introduces new fast growing varieties
•  Zimbabwe completes $40 mln purchase of Vimpelcom's local unit
•  Delta's 1Q revenue drops 6 percent
•  Choppies Zimbabwe to build massive warehouse in Bulawayo
•  Zimbabwe imports $263 million cash since January but shortages persist
•  ZSE market cap down 14 percent to $2, 6bln in Q1 on weak investor sentiment
•  Zimbabwe's Mugabe says empowerment law confusing investors