Weekly African Footprint: February 03, 2017

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's Okavango diamond sales jump 80 percent in 2016

Egypt

•  Banque du Caire to list its shares in first half of year
•  Egypt won't issue more Eurobonds in FY 2016/17, Deputy FinMin tells paper
•  Egypt to consider yen, yuan bonds after dollar sale last week
•  Yields drop on Egypt's three, nine-month T-bills in weekly auction
•  Egypt to raise sugar, cooking oil prices at subsidised outlets
•  Egypt's Obour Land targets 12 pct net profit growth in 2017

Ghana

•  SIC Insurance led advancers on Stock Market
•  Ghana 91-day bill yield rises to 15.9376 pct
•  Ghana risks downgrade by rating agencies
•  Ghana rakes in US$114.4m from oil by June 2016
•  Ghana Finds a $1.6 Billion Hole in Budget
•  Ghana government says inherits budget deficit "closer to double digits"

Kenya

•  Kenya's Uchumi posts narrower full-year pretax loss
•  Eveready closes Uganda warehouse, losses hit Sh206m
•  NMG acquires KenyaBuzz in digital growth plan
•  Central Bank retains key rate at 10pc
•  Kenya economic growth to slip to 5.7 pct in 2017
•  Kenyan shilling steady ahead of rate decision
•  Kenya economic growth to slip to 5.7 pct in 2017: central bank
•  Kenya's inflation climbs to 6.99 percent in January: stats office
•  Credit squeeze curbs Kenya's private sector growth: PMI

Mauritius

•  Mauritius business confidence bounces back in Q4 2016

Nigeria

•  Seplat suspends trading on shares for two months
•  FCMB Promotes Export Trade
•  Forte Oil Records Profit Before Tax of N5.3 Billion, Pays No Dividend
•  NSE lists N14.6bn Med-View Airline shares
•  Diamond Bank Records Two Million Subscribers on Mobile App, ‘Diamond Y’ello’ Platforms
•  FCMB partners CBN, others on export trade
•  Nigeria asks Goldman, Stanbic to help sell debut "diaspora bond"
•  Naira reverses loss after dropping to 500/dollar
•  China Emerges Nigeria’s Leading Source of Imports with $1.6bn
•  FG Plans to Issue $300m Diaspora Bond by June
•  Fitch Revises Lagos’ Outlook to Negative; Affirms ‘B+’ Rating
•  Nigeria’s Manufacturing Index Declines in January
•  Tourism contributes N1.7bn to GDP in Q3 2016
•  Nigeria likely to launch $1bln Eurobond sale this week: finance minister
•  Investment inflow to Nigeria drops to 10-year low
•  Nigeria equity trading falls 40 pct in 2016 as investors fret over currency
•  Nigeria proposes tax hike on luxury goods to boost revenue
•  Nigeria takes bids for oil-for-fuel swaps of up to 800,000 bpd in 2017

Tanzania

•  Credit to economic activities shrink
•  Poor agriculture, slower financial services hit 2016 Tanzanian growth
•  Tanzania current account deficit narrows 56.6 pct in year to Nov
•  Tanzania Said to Pick Mota, Yapi to Build $1.1 Billion Rail
•  Optimism as TICL share sale kicks off

Zimbabwe

•  ART to recapitalise Kadoma Paper Mills, Mutare plant to remain closed
•  TSL FY revenue falls 3pct to $47 million
•  Econet shares fall 33pct to drag Zim stocks lower
•  NBS says to build 100k houses in 5 years
•  ZimAlloys scouts for investors despite government threat to seize mining claims
•  Zimplats says Zimbabwe in fresh bid to seize its mining claims
•  Vast Resources sells off part of Zim gold mine ‘to deleverage bond notes risk’
•  Ok Zimbabwe CE Zireva retires
•  Zimplats sells 10pct stake to employees for $95mln
•  AfrAsia Bank assets go under the hammer
•  Econet defies ZSE, says EGM to go ahead
•  IMF urges reforms to ensure viability of Zim economy
•  Zimbabwe Farms, Still Reeling From Drought, Now Battered by Rain
•  Govt imposes 15% VAT on meat, cereals
•  Finsec turnover down 86pct in January
•  ZSE orders Econet to postpone EGM
•  Potraz to mortgage telco fund for Chinese loan
•  Chrome exports to double, says mines minister Chidhakwa
•  Zimbabwe introduces new "bond note" as cash shortages bite