Weekly African Footprint: June 06, 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

•  Choppies seals year-long quest for Ukwala takeover
•  Botswana's economy to return to growth this year
•  Botswana's economy to return to growth this year

Egypt

•  Egypt's Carbon Holdings has first backing for $5bln petrochemical funding
•  Egyptian asset manager Beltone Financial to buy Auerbach Grayson
•  Egyptian asset manager Beltone Financial to buy Auerbach Grayson
•  Egypt says foreign reserves at $17.52 billion at end of May

Ghana

•  Egypt says foreign reserves at $17.52 billion at end of May
•  AngloGold takes gov't to international arbitration
•  Ghana to issue fifth Eurobond by October
•  Ghana says 2016 gold production to dip to 2.7 mln ounces
•  BoG outlines new forex rules
•  Ghana Reinsurance to raise $100 million

Kenya

•  KCB plays down rise of bad loans
•  Jubilee Holdings sets sights on DRC, Ethiopia in growth plans
•  Imperial Bank chiefs risk Sh4bn fine over details of bond issue
•  KCB plans audit Chase Bank to establish its financial health
•  United Dutch Breweries (UDB) eyes Kenyan beer market
•  Kenyan shilling weakens slightly due to corporate dollar demand
•  Kenya's inflation at 5 pct yr/yr in May
•  Government rules out raising of electricity charges

Nigeria

•  FCMB targets revenue growth through technology in 2016
•  FirstBank Gets $13.745m Forex Allocation from CBN
•  Cadbury Recommends 65kobo Dividend Despite 46% Fall in Profit
•  Diamond Bank Fires 200 Nigerian Workers for Poor Performance
•  Ecobank Nigeria fires 1,040 workers
•  Seplat to Boost Shareholder Value through Gas Investment
•  BAT seeks enforcement of Tobacco Control Act
•  Nigeria plans talks with oil region on grievances, continues army crackdown
•  Nigerian president says government "resolved" to keep naira steady
•  Nigeria to Refine 1.3mbpd of Oil for Consumption by 2023
•  Nigeria banking shares plunge 8.5 pct on worries over FX policy
•  Nigeria to meet investors next week ahead of possible bond sale
•  Pension Funds Rise to N5.4tn
•  CBN fails to clarify new exchange rate policy
•  We'll revive export grant, FG assures manufacturers

Tanzania

•  Dar bourse IPO plans whet investors' appetite
•  BancABC launches intra-Africa regional banking campaign
•  World Bank caution to Tanzania criticised
•  Weakening dollar, rising exports to ease pressure on shilling
•  Tanzania's energy regulator raises retail fuel prices, citing costly crude

Zambia

•  CEC eyes AfDB $12bn energy fund

Zimbabwe

•  ZB engages central bank over high NPLs
•  Econet FY PAT down 42 pct to $40mln
•  Pearl Properties occupancies drop 6pct in four months
•  PPC in $253 mln capital raise, sweats over possible credit downgrade
•  ZB cautious about Mozambique venture
•  Trust Bank placed under final liquidation
•  Steward Bank reports first FY profit
•  Econet invests $55m on alternative power sources
•  Rainbow shuts down Beitbridge branch amid loses
•  Rainbow shuts down Beitbridge branch amid loses
•  Edgars laments poor trading environment after $2,2mln operating loss in Q1
•  Zim cement industry pleads for power price cut as exports dry up
•  Zimbabwe to introduce local bank notes in October