Weekly African Footprint: June 23, 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's BCL to be sold off piecemeal after sale talks fail
•  Botswana's central bank holds lending rate at 5.5 percent
•  Botswana issues tenders for coal-to-liquid project

Egypt

•  Egypt's CIB seeks to increase its capital by 25 pct
•  Egypt's Suez Canal revenue rises to $439.8 mln in may from $427.9 mln in April
•  Egypt provided $121 mln in emergency funding to GASC in May - Finance Ministry
•  Egypt president ratifies capital gains tax freeze extension, approves stamp duty
•  Egypt will receive second disbursal of IMF loan within 2-3 weeks

Ghana

•  Ecobank gets approval to raise $400 million to strengthen capital position
•  Ghana's 2016-17 cocoa main crop reaches 6-year high

Kenya

•  Parliament backs $750 mln state guarantee for Kenya Airways debt
•  National Bank fined for not reporting profit drop
•  Uchumi, too, hasn't paid workers their May salaries
•  Deacons takes Sh1.3bn loans above rate cap
•  Treasury still holding on to Sh73bn for counties
•  Kenya joins Africa’s big projects funder AFC

Malawi

•  Malawi sees IMF loan approval as signal of donor confidence

Nigeria

•  Shell Nigeria considering investment in gas project in Niger Delta
•  Julius Berger, Petrolan Energy Partner to Acquire Oil Fields
•  Heritage Bank Grows Agent Outlets to 400
•  Dangote Cement May Shut Ethiopian Plant Over Mining Disputes
•  NB targets 60% local raw materials
•  Nigerian exchange bureau head urges rate unification
•  Nigeria to sell 140 bln naira bonds on June 21 - debt office
•  Nigeria’s Half-Measures on Currency Are Only Half-Working
•  United Capital Lists Two Mutual Funds on Stock Exchange
•  Investors cheer Nigeria currency shift, want more
•  Nigeria's government revenues rise in May due to higher corporate tax proceeds

Tanzania

•  Acacia hopes talks will rebase environment
•  Vodacom primary offer results out this week
•  Investors’ appetite for t-bills hit record high
•  Z’bar inflation balloons to nine months high

Zambia

•  Kwacha to make further gains
•  Zambia, Malawi trade on rise
•  Zambia limits 10 percent tax on maize exports to boost output

Zimbabwe

•  Willdale H1 loss widens to $381k after incessant rains hit production
•  RioZim in talks with investor over $2bln Sengwa project
•  Agribank sets up $10mln facility for horticulture
•  Zinara, Ecocash launch tollgate payment mobile app
•  Zimpapers 2017 capex at $3,8mln
•  Exchange rate stalls ZPI’s sale of properties
•  Zimbabwe raises mandatory fuel blending ratio to 15pct
•  Tobacco sales drive broad money supply up 23pct
•  NSSA consolidates insurance portfolio with FML, NicozDiamond deal
•  Cash crisis to continue
•  Month-on-month inflation up 0,27%
•  Zimbabwe May Clear $1.7 Billion Arrears in 2018, Bank Says