Weekly African Footprint: May 22, 2015

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 retailer picks Kenyan partner in EA growth plans
•  Botswana defers copper tax to support struggling producers

Egypt

•  Egypt's SODIC doubles first-quarter profit
•  Edita secures land for new production facility
•  Nine banks offer LE5.4 bn loan to finance monorail in Egypt
•  Egypt's Suez Canal revenues at $422.1 mln in April
•  Egypt's Juhayna to enter joint venture with Denmark's Arla Foods
•  Egypt unemployment falls to 12.8 pct in Q1
•  Dubai's Ear plans to float 13 pct Egypt unit on Cairo exchange

Ghana

•  Ghana's Economic Growth to Double by 2019, Terkper Says
•  Ghana's oil production to rise six-fold by 2018
•  Bank of Ghana pays 23.47 pct yield for 3-year bond

Kenya

•  Senator Keg tax cut hands sorghum farmers lifeline
•  Centum issues Sh6 billion equity-linked notes on stock mart
•  KenolKobil signs deal with BP to supply Castrol lubricants
•  IFC eyes 11pc in Kenya Re partly owned reinsurer
•  Kenya awards two coal blocks, plans power plant
•  Centum to inject Sh1.2bn bond proceeds into K-Rep
•  Barclays Bank Kenya says Q1 pretax profit up 10 pct
•  Kenya shilling holds ground as demand for dollars eases
•  Kenyan shilling under pressure from demand for dollars
•  Kenya Entices Investors With $611 Million Sugar Debt Write-Offs
•  Kenya's shilling eases slightly on importer dollar demand

Malawi

•  Malawi's CPI rises to 18.8 pct in April y/y

Mauritius

•  Mauritius' Q1 tourism revenues up 3 pct as arrivals increase

Nigeria

•  Dangote Cement Posts N74.7bn Profit in Q1 2015
•  Seplat Reels out Benefits of Tax Incentive to Nigerian Economy
•  Nigeria's Skye Bank Q1 pretax profit rises 81 pct
•  Fidelity Bank Promises Regular Dividend Payment
•  Unity Bank Targets N77 Billion Profit in Three Years
•  GTBank Introduces New Technology Mobile Phone Money Transfers
•  FBN Holdings Gets Merchant Bank Licence, Pays N3.26bn Dividend
•  MPC Likely to Retain Interest Rate
•  FG's Revenue Drops by 21% in February
•  Nigeria to Hold Key Interest Rate Before Incoming Government
•  Nigeria's Economy Predicted to Hit $1trn by 2025
•  Nigeria, Poland Trade Hits N23m
•  Nigeria holds key interest rate as it seeks to preserve FX reserves
•  Bonds yield up on new cash reserves rule
•  Nigeria's outgoing president approves 2015 budget

Tanzania

•  CRDB catches up with NMB profit
•  Bank M mulls listing on DSE
•  Banks interest rate falls in March
•  Tanzanian Shilling Drops to Record on Declining Gold Exports
•  Current account deficit narrows further
•  Shilling plunges to another historical low
•  Tanzania raises minimum reserve ratio for banks to tackle volatility
•  Tanzanian leader says aid conditions degrading

Zambia

•  Glencore's Zambia mining unit completes refinery upgrade
•  Zambia's kwacha firms over 1 pct to month-high vs dollar

Zimbabwe

•  AICO, Foreign Investor Sign Deal
•  Sub-Saharan Africa's Biggest Cotton Company Seeks Rescue Partner
•  Delta plans $50m capex
•  Kingdom Bank Africa Under Final Liquidation
•  Mimosa seeks to reduce costs
•  Zimbabwe's State-Owned Bad Loan Buyer Seeks Private Funding
•  Liquid Telecoms Raises U.S $150 Million for Expansion
•  Econet reports 41pct dip in profits after tariff cut
•  Gold Output Up in Q1
•  Trade deficit widens
•  Zimbabwe's first-quarter gold production up 25 pct to 4,180 kg