Weekly African Footprint: June 09, 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

•  Tourism company Wilderness picked as preferred bidder for Air Botswana

Egypt

•  Egypt's foreign reserves rise to $31.126 bln at end-May
•  Egypt aims to cut fuel imports to 10 pct of consumption by 2019
•  Egypt allocates $8 bln for fuel subsidies in FY 2017-18 budget
•  Egypt imposes tariffs on Chinese, Turkish, and Ukrainian steel
•  Egyptian wheat imports thrown back into uncertainty as ergot ban looms
•  Egypt attracts $8.4 bln foreign investment in domestic debt since flotation
•  Egypt's urban consumer price inflation falls to 29.7 pct in May
•  Egypt reduces arrears owed to foreign oil companies to $2.3 billion
•  Egypt investment minister to submit draft investment regulations to government within a month
•  Egypt inflation eases for first time since currency float
•  Average yields fall on Egypt's six-month and one-year T-bills

Ghana

•  Ghana’s gold output jumps to 4.13 million ounces in 2016
•  Mining firms demand economic respite despite boost in revenue
•  World Bank report cites corruption for low cocoa production in Ghana
•  Ghana to begin cocoa mid-crop purchases on Friday- regulator
•  Ghana Cocoa Board Debt Reaches $2.2 Billion as Prices Slump

Kenya

•  Vodacom’s Safaricom bid gets key owner nod
•  Kenya Re buys more Co-operative Bank shares
•  Kenya government says to guarantee $750 mln in Kenya Airways debt
•  Kenya to convert $243 mln debt in Kenya Airways into equity
•  Kenya to export crude three times in a year
•  Kenya central bank to hold next rate-setting meeting on July 17
•  Kenyan Opposition Leader May Consider Tax Cuts to Woo Investors
•  Kenya to Lower Growth Forecast as Drought Cuts Food Output
•  Coffee farmers’ earnings rise to Sh630m under Nestlé plan
•  Kenyan court restores telecom regulator's competition powers
•  Kenya private sector activity stagnates in May

Mauritius

•  Mauritius inflation surges to 5.9 pct in May

Nigeria

•  Zenith Bank’s Eurobond Four Times Oversubscribed
•  FCMB Restates Commitment to Customer Satisfaction
•  Ecobank Moves to Deepen Customer Satisfaction
•  International Breweries Plc to Merge with Intafact, Pabod
•  Lafarge Africa shareholders approve N140bn rights issue
•  BPE, NSE to Define Terms for Listing Privatised Firms on Bourse
•  Nigerian share index hits 23-month high
•  Nigeria central bank imposes new spread limit in bid to increase liquidity
•  Nigeria's stock market ends two-week rally, index sheds 1.2 pct
•  Nigeria seeks approval from lawmakers for $1.5 bln loan for states' projects
•  FMDQ Boss Seeks Harmonisation of Foreign Exchange Rates
•  Nigeria's central bank to sell dollars to airlines, fuel importers
•  Nigeria to start international roadshow for diaspora bonds sale
•  Nigeria refining capacity is one-sixth of needs, says oil minister

Tanzania

•  NMB pays 17bn/- dividend to government
•  Dar among top growing economies in 2018
•  Tanzania's year-on-year inflation falls to 6.1 pct in May
•  Govt puts on hold Eurobond deal on hiked interest rate

Zambia

•  Zambia Sugar says refined sugar output up 47 percent
•  Zambia Copper Production to Rise 4% to Record, Lobby Group Says

Zimbabwe

•  Econet still refusing to share infrastructure: Govt
•  Lafarge Q1 revenue, volumes fall 15pct
•  Zimbabwe's Hwange Colliery Plans to Cut Workforce by About Half
•  Barclays Rejected Zimbabwe Management-Buyout Bid in Favor of FMB
•  Insurer NicozDiamond’s GPW up 11pct
•  RBZ approves miner Vast Resources share disposal
•  Ariston narrows loss to $2mln, expects biggest macadamia crop
•  SeedCo net income 40pct up to $21mln, seeks to unbundle external operations
•  PPC profit plummet 96pct, revenue up
•  Hippo Valley back in the black with $7,7mln FY net income
•  World Bank lowers Zimbabwe’s GDP growth to 2,3pct
•  Zimbabwe government issues $600mln TBs to pay ZESA debts
•  ZSE market capitalisation hits $5bln
•  Tobacco Seasonal Exports Rake in Over $200m
•  Budget deficit races to $230m in Q1
•  Zimbabwe to sell wildlife to DRC, Gambia