Weekly African Footprint: August 05, 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.

Botswana

•  Botswana inflation unchanged at 2.7 y/y in July

Egypt

•  After IMF deal, Egypt's Sisi says will not hesitate on tough reforms
•  Egypt reconsiders grain mega project amid scandal investigation
•  Egypt's 2015/16 petroleum subsidy spending down 23 percent
•  Egyptian pound stable at regular dollar sale, stronger on black market
•  Egypt's telecom regulator to send out final 4G licence terms on Sunday
•  Egypt to receive $2 bln deposit from Saudi Arabia

Ghana

•  Ghana to come out of IMF deal with single digit inflation - Mahama
•  Ghana state oil firm ready to sell to local refinery
•  Ghana says on track to halve budget deficit after IMF deal

Kenya

•  Uchumi bets on Sh1.2bn State funds to stabilise, suspends search for investor
•  M-Pesa diaspora cash inflows hit Sh13.1 billion
•  KenolKobil and Castrol to build lubricant plant
•  Kenya Airways partners to boost route link ups
•  Growth of mobile banking boosts Co-op Bank Kenya's earnings
•  NIC half-year profit up 2.8pc as bad debts rise to Sh12.5bn
•  Kenya must curb borrowing to keep debt affordable, IMF says
•  Kenya's finance minister opposes capping of banks' lending rates
•  Kenya raises retail fuel prices again
•  Aberdeen Sees Opportunity for Kenya to Tap Eurobond Market
•  Kenya's central bank warns lenders over misuse of credit bureaus
•  Only 8 NSE-listed company stocks rise since January
•  Kenyan Treasury Secretary Says Banks Making Too Much Profit

Malawi

•  Malawi's July inflation quickens to 23.5 percent

Mauritius

•  Mauritius raises 2016 tourism earnings forecast by 1.8 pct

Nigeria

•  Fidelity Bank Gets e-Commerce Platform Licence
•  Nestle Nigeria Sees Margins Pressured as Inflation Weighs
•  PZ Cussons Shareholders to Receive 50 kobo Dividend Per Share
•  Skye Bank Neither Distressed, Liquidated, CBN Insists
•  GTBank Posts N91bn Profit, Declares 25kobo Interim Dividend
•  Access Bank upgrades payment platform
•  SEC Rules Out Crowdfunding in Nigeria for Now
•  N80bn unclaimed dividends: Banks, registrars to appoint e-dividend champions- SEC
•  Nigeria Seeks $7 Billion to Kick-Start Mining, Steel Industries
•  Foreign investors release $14bn for projects in Nigeria
•  Nigeria Seeks $7 Billion to Kick-Start Mines, Steel Industry
•  Nigeria Imports $227 Million of Sugar From January to July
•  Telecoms Operators Fret over Proposed 9% Communication Services Tax
•  Naira Depreciates to N321.50/$1 on Interbank FX Market
•  Nigeria's Buhari says monetary policy alone not enough to expand economy
•  Nigeria oil min says OPEC cuts unlikely, Algeria meeting could help price

Tanzania

•  CRDB gets B1 rate from Moody’s
•  Shilling stabilizes against dollar
•  Six-year 456bn/- rural electricity deal signed
•  TIC readies for more investments

Zambia

•  Kwacha trading stable
•  Investors Bet Vote Dispute Won’t Derail Zambia’s IMF Bailout
•  Zambia central bank postpones quarterly policy meeting
•  Zambia, IMF Reach ‘Broad Consensus’ on Deal, Lungu Says

Zimbabwe

•  MBCA profit falls by half in dismal H1
•  Caledonia H1 profit doubles as gold price rises
•  Insurance sales boost Old Mutual H1 revenue 11pct to $139,7mln
•  Delta puts $1,1m into sorghum contract farming
•  Old Mutual on course on splitting units
•  CBZ Books 3,8% Increase in Bad Loans
•  Proplastics H1 revenue drops 11pct on lower prices
•  Agribank back in the black, targets $100mln capitalisation
•  Zimbabwe's draft mining bill says foreign firms must list locally
•  July inflation slides to -1.6 percent
•  Tobacco sales reach $580mln
•  Government negotiates with banks to fund $500mln command agriculture programme
•  Investment traffic falls 70pct, ZIA blames diamond nationalization
•  Manufacturing sector capacity utilisation seen flat