Weekly African Footprint: July 28, 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 coal mine stalls as farmers reject compensation deal
•  Botswana hopes to strike deal with Norilsk soon over Nkomati mine

Egypt

•  Egypt's Sisi says foreign reserves close to $35 billion
•  Egypt expects gas output to hit 6.2 bln cubic feet per day by end-2017/18
•  Yields fall on Egypt's six-month, one-year T-bills; foreign demand high

Ghana

•  BoG debunks GCB,NIB merger
•  Ghana sells $89 mln of 3-year cedi bond at 18.5 pct
•  Ghana’s debt stock reaches GHS137bn
•  Ghana central bank cuts rates as inflation eases
•  Ghana producer price inflation dips to 3.6 pct in June
•  Bank of Ghana's rate cut set to boost lending

Kenya

•  Scangroup gets Sh50m refund from subsidiary
•  Nation Media maintains Sh2.50 interim dividend as profit up 5.12pc
•  Kenya's East African Breweries full year after tax profit up 6 pct
•  Kenya's EABL to convert Tanzania unit loan into equity
•  Kenya's latest mobile phone bond falls short of target
•  Hennessy Pushes Cognac Into Kenya
•  Large budget deficit ‘risks growth, shilling stability’
•  Kenya's central bank to hold next rate-setting meeting on Sept. 18
•  Treasury’s 30 billion bond falls short by 83pc as bids rejected

Nigeria

•  Unilever, Advisers Sign Pact on N58.9bn Rights Issue
•  Guinness Nigeria starts to receive subscriptions for $126 mln share sale
•  Transcorp Records N4.2bn Profit After Tax in Half Year
•  Cadbury Nigeria posts N766.4m half-year loss
•  Nigeria's 9mobile seeks concessions to boost revenues ahead of sale
•  Guinness Nigeria explains N40 billion rights issue
•  FBN Holdings Profit Declines to N29.5bn, Assets Hit N4.7trn
•  H1: Transactions in Fixed Income, Currently Market Hit N67.4tn
•  Nigeria's NNPC says cenbank supervising $231.8 mln government remittance
•  Nigeria May Hold Rates Even as Inflation Slows, Economy Shrinks
•  Bill on NSE restructuring passes second reading
•  Nigeria central bank holds benchmark interest rate at 14 pct - governor
•  Nigeria stocks near three-year high on strong H1 profit
•  Nigeria's oil policy aims to diversify as "era of oil booms" ends
•  Nigeria's new $1.5 bln fertiliser plant boosts agriculture sector

Tanzania

•  Acacia Mining aims resume dividend if Tanzania export ban ends
•  CRDB bank share up 16pc in three weeks
•  The World's Biggest Tax Bill Is Just the Latest Blow for Gold Miner
•  Two years bond attracts 300bn/-
•  Tanzania Hands Mining Company $190 Billion Tax Bill
•  DSE’s trading volume up 7pc
•  Dar needs 12pc of GDP for infrastructure requirement
•  Digital financial inclusion to boost industrial economy
•  Barrick president says 'very positive' on Tanzania talks over ban

Zambia

•  Zambia's Konkola mine halts operations at Nchanga mine after cable theft
•  Zambia set to reach 4.3 pct GDP target as agriculture, mining recover
•  Zambia July inflation slows to 6.6 percent in July

Zimbabwe

•  CFI share price spike indicate ongoing bidding war
•  Econet sets conditions for infrastructure sharing
•  Zimbabwe's Simbisa seeks AIM listing, foreign acquisition
•  Delta shuts down Vic Falls depot
•  Stanbic Bank injects $273m in tobacco farming
•  BAT after tax profit up 27 pct in H1 on savings
•  AB-InBev, BAT Gain After Zimbabweans Turn to Plastic for Payments
•  Van Hoogstraten’s Messina makes counter offer to CFI minorities as fight for control intensifies
•  OK Zimbabwe Q1 revenue ahead of target
•  Cost cutting helps tyre maker NTS narrow FY loss
•  ZSE mainstream index at 30-month high
•  ‘Total exports to grow to $3,9bn by year-end’
•  $200m infrastructure fund unveiled
•  Mobile industry generates $200m in revenue
•  Zimbabwe rakes in $22m from chrome exports

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