Weekly African Footprint: December 04, 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 sharply increases customs duties as it seeks to curb imports
•  Yields rise on Egypt's three, nine-month t-bills in weekly auction
•  Egypt supply minister says wheat reserves sufficient for six months -MENA
•  Egypt's non-oil business activity falls to 40-month low as costs rise: PMI
•  Egyptian oil company takes $200 million loan for electricity generation
•  Egypt central bank governor says intervention in currency market is "history"
•  Egypt's core inflation jumps to 20.73 pct in Nov from 15.72 pct in Oct
•  Egypt to issue $1 bln 1-year dollar-denominated T-bill -central bank

Ghana

•  Gov’t targets 8% growth rate next year
•  Matured bills & bonds reach GHC145bn in 2016
•  Mining injects GHC1.35bn to economy
•  Ghana President Mahama asks for second term to consolidate gains
•  Ghana’s coupon rate on Eurobond too high

Kenya

•  Kenya Power aims to speed up connections to grid
•  Shilling tipped to stabilise in Dec after volatile November
•  Listed lenders post 15pc growth of earnings per share in Q3
•  Increased demand lifts private sector growth from four-month low
•  Kenya, World Bank Consider $150 Million Off-Grid Power Project

Mauritius

•  Mauritius sees 2016 foreign investment flows up 44 pct: finance minister
•  Mauritius inflation rises to 2.2 percent yr/yr in Nov

Nigeria

•  Shareholders approve Union Bank’s N50bn rights issue
•  Nigeria plans over 7 trln naira budget for 2017: vice president
•  SEC pursues listing, plans further stratification of stock market
•  Senate Begins Final Work on Economic Recovery Bills Today
•  Nigeria, Morocco Sign Agreement to Produce Fertilizer Locally
•  Nigeria oil output at 1.9 million barrels per day: minister
•  Nigeria's Buhari to submit 2017 budget to lawmakers on Dec.14
•  Tanzania, Nigeria's Dangote Cement haggle over price of natural gas
•  Nigeria spends $1 billion on outsourcing yearly
•  Nigeria targets oil output of 2.1 mln bpd in Jan - minister
•  Nigeria Plans $3.2 Billion Capitalization for Farming Lender
•  FG targets 7% growth with economic recovery plan
•  Nigeria oil sales should be centralised in sector overhaul

Tanzania

•  Tanga Cement wins top NBAA award
•  Demand for T-b ills impressive
•  DSE activities slow down as yearend holiday season begins
•  Tanzania Says It May Draw $9.2 Billion in Cement Investment
•  Tanzania aims for debut Eurobond in 2017/18 - ministry
•  Tanzania inflation at 4.8 pct in year to Nov

Zambia

•  Stanbic invests $155m in agriculture sector
•  Intermarket Unit Trust not part of seizure, says BoZ
•  Zambia to re-finance $2.8 billion Eurobonds next year

Zimbabwe

•  Marange diamond output drops 62pct as court cases drag
•  PG Industries investor Dewei misses payments deadline
•  Innscor revenue up 7pct in Q1, to conclude Zambia units sell off
•  NSSA to make a mandatory offer to NicozDiamond minority shareholders
•  EcoCash now processing Rand transactions
•  Zim imports food, beverages worth $64m in Oct
•  Gold output seen below target at 22 tones
•  Zim industries to pay upfront for imported power
•  Standard Chartered confirms Zim debt payment plan, subject to reforms and UK nod.
•  Credit to private sector down 8,4%
•  Mining costs down on cost-cutting measures
•  Zimbabwe Chrome Miners Relinquish Some Licenses to Government
•  RBZ to release $7mln bond notes this week
•  Zimbabwe halves 2016 growth forecast, budget deficit widens
•  Stagnant economy, yawning deficit keep heat on Zimbabwe's Mugabe