Weekly African Footprint: June 02, 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 Lerala Diamond Mine shuts down
•  Botswana's Wilderness Safaris to bid for Air Botswana
•  Botswana power utility invites bids to build 100 MW solar plant

Egypt

•  Egypt procures 2.9 mln/T local wheat since start of season
•  Average yields rise on Egypt's three and nine-month T-bills
•  Foreign investments in Egyptian government securities jump 13 percent
•  Egypt keeps customs exchange rate at 16.5 pounds/dlr in June
•  Egypt ratifies long-awaited law aimed at luring investment

Ghana

•  Ghana to Produce Biggest Cocoa Crop in Three Years
•  Ghana sells 705.16 mln cedis 3-yr local bond at 18.5 pct yield

Kenya

•  Defaults cut housing firm’s profit by 73pc
•  Safaricom rallies to record Sh900 billion market value
•  Kenya's current account deficit widens to 5.8 pct in February
•  Kenya central bank keeps benchmark rate at 10 percent
•  Tight Race Seen in Kenya's Elections With Opposition Turnout Key
•  Banks raise forex stocks to Sh240bn in hedging move
•  Rising food, fuel prices lift inflation to five-year high
•  Kenya Central Bank Says Lenders Face New Era of Lean Profits
•  Resurgent NSE large caps beat other African markets

Malawi

•  Malawi's hopes aid embargo to be lifted after World Bank support resumed

Mauritius

•  Mauritius 4-year central bank notes yield at 3.32 pct

Nigeria

•  Nigeria's 'bad bank' says nearing sale of Peugeot car assembly plant to Dangote
•  Portland Paints restructures operation as equities gain N76bn
•  GTBank Launches Biometric Mobile APP
•  FirstBank Unveils New Website
•  GSK Nigeria Shareholders Approve 30k Dividend, Commend Performance
•  Seplat Assures Shareholders of Improved Results, High Returns
•  Wapic Insurance Misses Premium Growth Rate Target
•  Nigeria oil governance bill aims to break up state oil company NNPC
•  Capital market: Stock market investments crashed by N1.93 trn
•  Power Operators Seek Harmonisation of Market’s Trading Currency
•  PENGASSAN: Nigeria Lost over $235bn to Non-passage of PIB
•  Nigerian banking shares rally on recovery hopes
•  Nigerian stocks rise to 11-month high on banking, cement shares
•  Nigeria’s Manufacturing Index Expands in May

Tanzania

•  Acacia Mining says Tanzania audit inaccurate, considers options
•  TPCC announces dividend of 90/- per share
•  4 firms nail Citibank over 7trl/- security deposit
•  Tanzanian finance minister cuts GDP forecast for 2017 to 7.1 percent
•  March revenue collection hits 95 per cent of target
•  Z'bar current account registers 85bn/- surplus

Zambia

•  Zambian Breweries plans to sell opaque beer business
•  Cobalt project attracts Australian company
•  Billionaire Leviev Adds Zambia Emeralds to Diamond Portfolio

Zimbabwe

•  Econet Wireless Zimbabwe posts 10 pct fall in full year profit
•  Malawian bank snaps up Barclays Zimbabwe
•  ART net income grows 41pct to $1,3mln in H1
•  Govt loses out on mining tax