Weekly African Footprint: July 14, 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.



•  Egypt's Eastern Co raises cigarette prices on higher import costs
•  Egypt's finance minister expects monthly inflation rate to stabilize within 4 months
•  Egypt's central bank says $57 bln cash flow into banks in 8 months - al Akhbar
•  Average yields on Egypt's three- and nine-month T-bills jumps
•  Egypt's core inflation increases to 31.95 pct yr/yr in June
•  Egypt expects to receive second IMF loan disbursal within coming week -CBC
•  Egypt to halt flour subsidy and cut wheat imports by up to 10 pct


•  Asante Gold to start drilling in July
•  Daily minimum wage goes up by 10%
•  Ghana inflation slows to 12.1 pct in June on lower food, petroleum prices
•  Ghana seeks Swiss support to process more cocoa


•  Safaricom goes for photo IDs to block M-Pesa fraud
•  StanChart branch closures signal more bank job losses
•  Equity gets credit profile boost after agency upgrades its rating
•  Nakumatt financial woes hit Gold Crown tea sales
•  Shilling slides to six-month low on high dollar demand
•  Kenya central bank intervenes in forex market to support shilling


•  Malawi's inflation slows to 11.3 percent in June


•  Mobil: NIPCO Receives SEC’s Approval to Extend Mandatory Takeover Bid
•  Etisalat begins exit from Nigeria
•  Etisalat Nigeria's new CEO targets profit after regulator rescue
•  Nigeria's Aliko Dangote to Invest $4.6 Billion in Agriculture
•  Flour Mills posts N9.8bn profit after tax
•  Insurer Prudential enters Nigeria via insurance buy, Zenith Bank deal
•  Equities’ fortunes to remain mixed pending Q2 results announcement
•  MFBs Seek Improved Disbursement of N220bn MSME Fund
•  Nigerian oil minister unable to attend Russia meeting -Kuwait minister
•  Increased Demand for Banking Stocks Lifts Index by 0.48%
•  Nigeria "cannot borrow anymore", says finance minister
•  Nigeria sees debt service of $483.4 mln on foreign loans in 10 years: DMO
•  Nigeria Signals Willingness to Agree on Oil Production Cap
•  Nigeria plans issue of 10-year note of $8.9 bln to offset debts
•  Nigeria to put off deciding whether to join OPEC cuts, minister says
•  Lagos to Raise N100bn via Bond for Infrastructure Financing
•  Nigerian banks seek Etisalat Nigeria cash flow clarity before results


•  Tanzania's president signs new mining bills into law
•  Tanzania's inflation slows to 5.4 pct in June


•  Choppies to open 9 more outlets
•  Airtel e-commerce platform in $50 million investment
•  Kwacha weakens against dollar
•  Zambia says emergency rule may end early if sabotage stops


•  Steward Bank suspends pay-TV payments over forex shortages
•  Turnall still to find investor
•  Econet to embark on major data network upgrade
•  BNC’s smelter restart and fortunes rely on fickle nickel prices
•  Zimre’s Stalap makes a mandatory offer to CFI minorities at 22 cents per share
•  Masawara recovers to $58k FY16 profit
•  Zimbabwe maize subsidy adds $118 million to mounting debt
•  Zimbabwe yet to reach deal over arrears with foreign lenders: IMF
•  Bond notes discount will propel inflation: IMF
•  Loss-making Air Zimbabwe cuts half its workforce
•  Zimbabwe wants more bureaux de change, slashes registration fees
•  Mobile banking transactions hit $800mln in April as cash shortages bite
•  Zimbabwe c/bank wants higher inflation, more bond notes
•  Zimra collects $1.7bln in H1, surpasses target
•  Zimbabwe tourist arrivals up 6pct in Q1
•  Tobacco sales and exports fall – TIMB

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