Weekly African Footprint: January 20, 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 inflation quickens to 3 percent y/y in December
•  Italian consortium wins $95 mln bridge contract in Botswana wildlife refuge

Egypt

•  Egypt's $12 bln IMF loan carries interest rate of 1.5-1.75 pct -fin min
•  Egyptian T-bills yields rise at weekly auction
•  Egypt on track to receive IMF loan's second tranche
•  Egypt's Suez Canal revenues fall to $5 bln in 2016 from $5.175 bln in 2015
•  Egypt fixes customs dollar exchange rate to help importers
•  Egypt PM says cabinet reshuffle likely to be approved by month-end

Ghana

•  Ghana plans to issue 17.4 mln cedis ($4.07 bln) in domestic bonds in Q1
•  Impressive earnings reports to drive capital gains in 2017 - GSE
•  Cedi depreciation causing increase in fuel prices – COPEC
•  FDI dips by 66% in 5years

Kenya

•  Safaricom valued at more than 9 top NSE firms combined
•  Airtel’s second layoff in a year turns focus on turnaround bid
•  Uchumi begins testing new franchising model
•  Kenyan supermarket chain Nakumatt agrees stake sale to fund for $75 mln
•  Tullow strikes more oil in Turkana ahead of early export plan
•  Kenyan shilling stable, depreciation pressure from importers eyed
•  Kenya fuel price cap review to mid-February
•  Tea prices start New Year on a high at Mombasa auction
•  Kenya's economy to grow at a slower pace this year: IMF Rep
•  New global ranking rattles Kenya's economic growth record
•  Kenya Central Bank Expects Current-Account Gap to Stabilize
•  Rising Kenyan tea, coffee export prices to ease drought impact

Malawi

•  Malawi December inflation inches up to 20.0 percent y/y

Nigeria

•  Dangote targets 3000 jobs with $100m truck assembly plant
•  Portland Paints Gets NSE’s Approval for N1.02bn Rights Issue
•  Ecobank Inaugurates Agency Banking Outlet
•  FirstBank Strengthens Money Transfer Services
•  Value of Foreign Investments in Equities Fall 51% on Currency Challenges
•  Nigeria December inflation rises for eleventh month running to 18.55 pct
•  IMF predicts 0.8% growth for Nigeria’s economy
•  External reserves rise by $1bn in two weeks
•  Dangote, China's Sinotruck set up $100 mln truck plant in Nigeria
•  Pension assets rise to N6.02tn
•  We Simply Can’t Allow the Naira to Float, Says Osinbajo
•  Nigeria needs to close gap between official and black market rates "very soon": VP
•  Electricity: Power sector loses N10.33bn in eight days
•  FG’s plan to secure foreign loans stalls
•  Nigeria’s External Reserves Hit $27.2bn
•  Nigeria raises local currency bonds at yields below inflation

Tanzania

•  Acacia in talks with Endeavour about merger
•  Three local listed firms shine at DSE
•  Over 370bn/- raised through treasury bills
•  Tanzania seeks $200m World Bank loan to clear arrears of state utility

Zambia

•  Vedanta's Zambia mine to pay first instalment of $100 mln owed to govt by month-end
•  EU grants Zambia $69 mln for energy projects

Zimbabwe

•  Sanctions reprieve for ZHL
•  No festive cheer for Delta as Q3 revenue falls 10 percent
•  Hwange Colliery Company lurches into quandary
•  Zimbabwe's Econet to raise $130 million from rights issue
•  Delta capacity utilisation declines
•  Zimbabwe consumer prices fall 0.9 percent y/y in December - Zimstats
•  Milk production up 14 percent to 65mln litres in 2016
•  Zimbabwe tax agency says misses 2016 revenue target due to weak economy
•  New vehicle sales down 7% in 2016
•  Zimbabwe to Amend Investment Laws