Weekly African Footprint: December 04, 2015

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

•  Bank Profits in Botswana Drop 32% on Tight Margins, Frozen Fees

Egypt

•  Egypt's EFG-Hermes Leasing seeks Islamic credit line from Gulf lender
•  Egypt expects to start power output from 1st nuclear reactor by 2024
•  Egypt's stock exchange will allow ten companies to delay IPOs -MENA
•  Egypt targets 5-5.5% growth, 9- 9.5% budget deficit in 2016/17: Ministry
•  Egypt M2 money supply up 19.6 pct in October: Central bank
•  Egypt's central bank to keep pound stable at 7.7301 pounds on Thursday

Kenya

•  Kenya Airways unable to pay its employees
•  Emergency power generation earns KenGen Sh24.9m
•  Kenyan Authority to Reimburse Most Imperial Bank Depositors
•  Kenya's inflation up in November due to food price rises
•  Kenyan shilling holds steady, seen range bound
•  Kenyan prosecutor investigating Eurobond spending
•  Foreign investment in Kenya falls 37 per cent to Sh225 billion
•  Kenya central bank governor sees inflation starting to fall
•  Kenya's tea agency signs $55 million deal to build small hydro dams
•  Kenya seeks bidders for five state-owned sugar companies
•  Treasury accounts for Eurobond revenue
•  Kenya can handle a U.S. rate hike, central bank head says
•  Kenya's private sector activity picks up in November: PMI

Mauritius

•  Mauritius year-on-year trade deficit narrows 15 pct in Q3
•  Mauritius 5-year Treasury bond yield rises to 5.01 pct

Nigeria

•  Transcorp Ughelli Power Becomes Transcorp Power
•  Ecobank secures $170m offshore loan facility
•  PZ shareholders approve merger of three firms
•  MTN's Nigerian Fine Reduced to $3.4 Billion Ahead of More Talks
•  Nigeria's Stocks Fall to Three-Year Low as Foreigners Exit
•  Nigerian finance minister says to focus on cutting cost of government
•  Nigeria's distributable revenues rose in October to 473.83 bln naira: finance ministry
•  Nigerian assembly passes $2.9 bln extra budget, mostly for gasoline
•  CBN Warns Banks against Weak Corporate Governance Practices
•  Stock Market Hits 3-year Low on Persistent Bear Run
•  Nigeria Reserves Dip Below $30 Billion for First Time Since July
•  Nigeria oil output 2.2-2.4 mln bpd next year

Tanzania

•  DSE market value up after new bank listing
•  AfDB approves $365m for road, rail projects
•  Export earnings from agrisector stabilise the shilling

Zambia

•  Zanaco secures $60m loan
•  Zambia expects $1 bln in deals with China at Africa summit
•  Zambia announces sharp rise in electricity tariffs

Zimbabwe

•  Mashonaland Holdings plunges to $6mln FY loss
•  African Sun FY loss widens to $3,36 million on West Africa exit
•  Zimbabwe Power Utility Secures $1.2 Billion Loan From China
•  Nestlé Zimbabwe Cremora, milk powders plant to be commissioned
•  BNC slips to $3,4mln H1 loss, to focus on cost structure
•  Stanbic introduces 20-year home loans
•  Nestlé commissions milk powder plant
•  Zimbabwe loses 300 MW after two units at Hwange plant break down
•  Barclays Africa fails in bid to acquire Barclays Bank Zimbabwe assets
•  Zesa in discussion with BCC over $65m outstanding royalties
•  China to set up a cigarette plant in Zim
•  Nampak Zimbabwe FY revenue falls 5pct, profit at $2,3mln
•  ART FY revenue up 4pct to $29 mln, narrows loss to $590k
•  Govt to tax insurance brokers' commission
•  Zimbabwe seals energy, telecoms deals on Chinese leader Xi's visit
•  ZSE market cap declines