Weekly African Footprint: May 19, 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 proposes debt for equity deal for troubled BCL Mine
•  Botswana inflation inches lower to 3.4 percent y/y in April

Egypt

•  IMF reaches staff level agreement for second loan instalment to Egypt
•  Egypt still has work to do despite glowing IMF review
•  Average yields rise on Egyptian six-month and one-year T-bills
•  Egypt procured 2 million tonnes of wheat from local farmers

Ghana

•  Fitch upgrades Ghana outlook to stable, says govt making progress
•  2016/2017 cocoa buying season ends on Thursday – COCOBOD
•  Ghana's Cocobod says raises $200 mln through bond for purchases
•  Ghana's New Central Bank Boss Seen Cutting Rates for Growth

Kenya

•  Vodacom agrees $2.6 bln Safaricom deal to tap Kenyan market
•  Mumias share hits all time low of 70 cents
•  Standard Group share leads NSE performers with 82per cent price jump
•  Tullow says makes oil discovery in Kenyan well
•  Co-op Bank posts 6pc drop in Q1 net profit to Sh3.2bn
•  DTB first quarter profit up 8.8 per cent on State lending
•  Kenya gets $1 bln syndicated loan from commercial banks: IFR
•  Kenyan shilling unchanged against dollar, seen in narrow range
•  Treasury bills oversubscribed as demand remains high
•  NSE, regulator warn bond issuers against late release of results
•  Relief as increasing imports begin to reduce price of sugar
•  NSE gains past Sh2trn mark for first time in six months
•  Volvo says to start assembling trucks in Kenya

Malawi

•  Telekom Networks Malawi to invest $30m in 4G network
•  Malawi's economic growth seen at 7 percent in 2017

Mauritius

•  Mauritius MCB Group 3rd-quarter pretax profit rises 4 pct
•  Mauritian sugar producer Alteo upbeat on full-year prospects
•  Mauritius unemployment rate down to 7.3 pct in 2016

Nigeria

•  Nigeria's Oando in talks to help Eni fix Port Harcourt refinery
•  Nigerian oil workers extend Exxon Mobil strike to Chevron, Agip and Shell
•  Nigerian inflation falls to 17.24 percent in April
•  FG’s Revenue Rises by 20.4% in February
•  Net Asset Value of Mutual Funds Grows 159% in Five Years
•  With Improved FX Liquidity, Banks Foresee Green Shoots
•  FG targets economy growth through export incentives
•  Nigeria's NNPC finalising $6 bln worth of oil-for-product swaps
•  Nigeria aims to unlock credit for small firms with new development bank

Tanzania

•  Vodacom profit increases by 60pc
•  Banks boost investors' appetite on t-bills, bonds
•  EU pledges continued support to EAC

Zambia

•  Zambia's central bank seen holding rates as power price hike may fuel inflation
•  Zambia's economy to grow 4 percent in 2017, 5.2 percent in 2018

Zimbabwe

•  ZB eyes diaspora after sanctions reprieve
•  ZimAlloys surrenders 35% claims to govt
•  Cafca reports $327k HY profit
•  Padenga shareholders approve share option schemes for management and employees
•  Zim fails to export sweet potatoes since 2012
•  Standard Bank says arranges $120 mln debt package for Zimbabwe Power Company
•  Zimbabwe's high state spending may deepen cash crunch
•  April inflation edges up to 0.48 pct
•  Air Zimbabwe barred from Europe
•  IMF warns Zimbabwe on excessive government spending