Weekly African Footprint: March 20 2014

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

•  Orascom Construction says banks offer $1.95 bln for Egypt power station
•  Telecom Egypt aims to increase infrastructure investments to LE3 bln in 2015
•  GB Auto submits capital increase documents to EGX
•  EGX to list Wadi Kom Ombo shares after split on March 23
•  Sisi says Egypt needs $200-$300 billion to develop
•  Egypt targets 4.5-5 pct growth in 2015/16
•  Egypt's current account hits deficit of $2.9 bln in Oct-Dec quarter

Ghana

•  Ghana raises budget-deficit target as oil revenue drops
•  Ghana Downgraded Deeper Into Junk by Moodys as Oil Slide Bites
•  Microfinance companies to be hit by mergers and acquisitions
•  Ghanas power deficit offers great investment opportunities

Kenya

•  Kenya's Standard Group 2014 profit up 8 pct on advertising boost
•  Kenya Commercial Bank Targets 30% Gain in Mobile Transactions
•  Co-operative Bank of Kenya says 2014 pretax profit flat
•  Safaricom sets new record as market value hits Sh630bn
•  MPs accuse Deloitte of cooking Mumias financials
•  Safaricom joins digital migration plan
•  Kenya Beckons Banks With $3.2 Billion of Road-Building Contracts
•  Chase Bank plans private offering to raise Sh2.5bn
•  NSE 20-share index rises for the first time in two weeks
•  Tea firms cut output as leaf shortage bites

Malawi

•  Malawi February CPI slows to 19.7 percent y/y

Nigeria

•  Lafarge Africa Declares N3.60 Dividend for Shareholders
•  Dangotes $400m Zambian plant to produce first bag in two weeks
•  Transcorp Hotels proposes 37 kobo dividend
•  Nigeria's Access Bank posts 20 pct rise in 2014 pretax profit
•  IFC says lends $175 mln to Nigeria's GT Bank
•  NSE places Union Homes shares on full suspension
•  GTBank Targets N120bn Profit Before Tax in 2015
•  Ecobank, FCMB Unveil Initiatives to Empower SMEs
•  Shell completes sale of OML 18 oil field stake in Nigeria
•  Access Bank to build capacity in oil & gas sector
•  Money market rates pare gains as liquidity tightens
•  Nigeria Stocks Fall Most in a Month as Elections Loom, Oil Falls
•  SEC Plans New Rules to Make Market More Attractive
•  Declining Revenue: FG to Embark on Aggressive Tax Drive
•  Nigeria government revenues fall 2 pct in Feb on low oil prices

Tanzania

•  Sino-Tanzania trade boosts investment flow
•  Tanzania budget spending seen flat in 2015/16
•  Tanzania to get $380 mln loans from India for water projects

Zambia

•  Zambian consortium plans to bid for Collum Coal mine
•  Zambia Bank Chief Seeks Magic Wand to Save Kwacha at Record Low
•  Fitch downgrade will unsettle investors, affect FDI - EAZ

Zimbabwe

•  ABC Holdings secures $50 million loan from AfDB
•  Telecel Zimbabwe Working With Government to Avert Shutdown
•  Zimbabwe national airline seeks $260 mln capital inject
•  Rio Tinto plc pays Zimbabwe $14mln in taxes
•  Dairibord reports $1,4mln profit, expects a better year
•  Zimbabwe's Hwange Colliery, Glencore agree 6-month coke deal
•  Sanlam eyes move into Zimbabwe
•  Fidelity seeks JVs in gold production
•  Tongaat says social spending should count in empowerment law
•  Trade with China spikes
•  Inflation continues in negative territory
•  Reprieve for clothing manufacturers
•  Retrenchments quicken by 40pct in 2014 RBZ
•  Britain gives Zimbabwe $72m