Weekly African Footprint: May 12, 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.

Egypt

•  Egypt's Suez Canal revenue $853.7 million in April and March
•  Egypt has procured 803,000 tonnes of wheat since start of harvest -supply min
•  Egypt's 5-year and 10-year bond yields rise at auction
•  Egypt issues $1.2 bln in one-year treasury bills, average yield at 3.488 pct
•  Egypt has procured over 1 mln tonnes of wheat since start of harvest
•  Egypt's annual urban consumer price inflation reaches 31.5 pct in April

Ghana

•  GCB Bank’s profits rise to GH¢299m
•  Ghana 2016/17 cocoa purchases through April 20 up 13 percent
•  Ghana makes strides in cashew production
•  Ghana inflation rises to 13.0 pct in April on higher transport costs

Kenya

•  EABL blames erratic tax for its high business costs
•  Nakumatt eyes Sh1.5bn savings with branch closure strategy
•  Safaricom full-year profit rises 18.3 per cent to Sh45bn
•  Mumias seeks Sh3bn fresh taxpayers bailout
•  Kenya Airways near completing capital restructuring
•  KCB first quarter profit drops to Sh4.54 billion
•  Kenya shilling seen under pressure from energy sector dollar demand
•  Kenya parliament seeks plan to curb rising food prices ahead of polls

Mauritius

•  Mauritius' SBM holdings says bidding for stake in Kenya's Chase Bank
•  New Mauritius Hotels pretax profit up 10.8 pct in first half
•  Mauritius Rogers & Co 9-mth pretax profit down 18 pct
•  Mauritius April inflation rises to 2.9 pct y/y

Nigeria

•  Dangote to invest $450m in Sugar Production in Niger State
•  Lafarge Africa to seek approval to raise 140 bln naira
•  Wapic Insurance Q1 Profit Rises by 135%
•  Nigeria stocks hit 4-month high lifted by oil firm Oando
•  Eni to build crude oil refinery in Nigeria -oil minister
•  Etisalat Nigeria loan talks stall as banks try to avoid provisions
•  Nigerian Digital Boom Seen Boosting Ecobank Clients Fivefold
•  Zenith Bank to Raise $500 Million to Boost Operations
•  Nigeria almost triples budget for Niger Delta amnesty –presidency
•  Nigeria Seeks $5.2 Billion From World Bank for Power Industry
•  Naira traded at 400 for investors, traders discuss rates
•  Moody's bank outlook, earnings lift Nigerian stocks to 6-month high
•  Nigeria to start talks with General Electric over railway contract
•  Nigerian lower house passes 2017 budget: lawmakers
•  Oil workers go on strike at Exxon Mobil in Nigeria: union
•  SEC sets aside N5bn for Capital Market Devt Fund
•  Nigeria Senate approves 23-billion 2017-budget-to-boost-economy

Tanzania

•  Tanga Cement upbeat about growth prospects
•  Vodacom IPO ends on optimistic note
•  Zanzibar projects 1tri/- for 2017/2018 budget
•  Tanzania revokes FBME bank's licence over money-laundering probe
•  Tanzania inflation unchanged at 6.4 pct yr/yr in April
•  IMF Sees Tanzania Hitting `Soft Patch' as State Cuts Spending

Zambia

•  World Bank approves $200 million to improve Zambia's rural roads
•  Zambia energy regulator approves 75 percent retail electricity hike
•  Zambia President steps into row with First Quantum Minerals

Zimbabwe

•  CFI narrows HY loss to $273k from $6,1mln
•  RTG clears Afreximbank, PTA legacy debts
•  Econet launches Wifi in kombis
•  Revived Sabi Gold mine now at 40pct of capacity
•  Caledonia caps Blanket 2017 gold production, prioritises mine development
•  Delta FY revenue falls 10pct, profit at $70mln
•  Innscor to delist Colcom, offers to exchange minority shares
•  CBZ income up 7pct to $38mln in Q1 on increased business
•  Barclays Zimbabwe interest income dips as lending slows down
•  Competition watchdog probes Zesa, CAFCA barter deal
•  BAT Q1 performance flat, expects stronger H2
•  Zimbabwe risks power cuts from S.Africa's Eskom over arrears – paper
•  Milk production up 5pct in March
•  Diaspora remittances at $180m in Q1
•  Tobacco sales rake in $300m
•  Zimbabwe Gets Loan for $1.7 Billion AFDB, World Bank Arrears
•  Pay back the debt, German envoy implores Zimbabwe