Weekly African Footprint: February 10, 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 gets offer for struggling BCL mines
•  Botswana's growth to almost double as commodity sales rebound

Egypt

•  Egypt's AMOC to make secondary share offering in Cairo and offer GDRs in London
•  Egypt's non-oil business activity shrinks for 16th consecutive month
•  Egyptian Stock Exchange approves Banque Du Caire request for IPO
•  UAE's Dana Gas freezes Egypt investments over debts

Ghana

•  Ghana says to miss 2016 targets on growth, deficit reduction
•  Cedi ends January with 2.80% depreciation rate

Kenya

•  Portland Cement woos State with land in bid for Sh45bn
•  Consumers get reprieve as Kenya Power relaxes pay plan
•  Kenyan vehicle output gets boost from Peugeot plan
•  Kenya’s retail spending hits Sh1.8 trillion, says P&G report
•  Kenyan shilling steady, seen trading in narrow range

Mauritius

•  Mauritius 5-year Treasury bond yield falls to 3.40 pct
•  Mauritius central bank to sell notes worth 2 bln rupees this week
•  Mauritius inflation rate at 1.8 pct yr/yr in January

Nigeria

•  Nigeria's Fidelity Bank targets electronic banking for growth
•  Court suspends proceedings on Ecobank’s suit against Honeywell
•  Ecobank backs start-ups with $500,000
•  Nigeria fine to push South Africa's MTN to 2016 loss, shares fall
•  Jaiz Bank lists N36.8bn shares on NSE
•  Nigeria sells 400 bln naira bills to mop up money market liquidity
•  FG Unveils Measures to Turn Around Economy, Targets 7% GDP Growth
•  Nigeria's recession "will soon be history", says vice president
•  More Banks to Raise Capital in 2017
•  Nigeria to raise tomato import duty to boost local production
•  Nigeria approve $1 bln Eurobond sale as investors fret over oil, FX risk
•  Nigeria prices $1 bln 15-year Eurobond at 7.875 pct
•  Capital market operators apprehensive over high yields on FGN bonds

Tanzania

•  BANK M Tanzania has posted 35 per cent pre-tax profit of 23.66bn/- in the year ended December 2016 compared to 17.49bn/- of the previous year.
•  CRDB eyes increased focus on mortgage sector in 2017
•  Tanzania hikes fuel prices due to weaker currency, crude costs
•  Tanzania says needs $46 billion in power investment by 2040
•  Low demand greets 5-year treasury bonds
•  LAPF told to invest in industries to boost growth
•  Tanzania inflation at 5.2 pct yr/yr in January

Zambia

•  Stanbic pumps $570 million in energy sector
•  KCM CLEARS $160M DEBTS
•  Zambia Sugar share earnings dip
•  Munali Nickel Mine to resume ops
•  Zambia says First Quantum plans $1 bln investment, company cites conditions
•  Kansanshi Mine in K9.8 billion facelift
•  Kwacha steady against dollar as copper price falls
•  Government moves on fuel subsidies
•  Zambia's 2016 investment pledges up marginally to $3.4 billion

Zimbabwe

•  Econet’s $130mln capital raise gets shareholder nod
•  PPC Zimbabwe cement volumes up 9pct
•  ZSE sends CEO on leave over Econet
•  Illiquid market impedes AfrAsia loan repayments
•  Makomo Resources says coal production falls 70pct as ZPC fails to settle $25mln debt
•  Nampak Zim’s Q1 turnover 11 percent below prior year as group warns of tough 2017
•  Liquid Telecom acquires Tanzania’s ISP Raha
•  Local bourse turnover down 67% in January
•  Treasury creates foreign currency management system
•  Zimbabwe shelves VAT on basic foodstuffs