Weekly African Footprint: October 14, 2016

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 puts state-owned BCL Mine under liquidation on losses
•  Botswana inflation quickens to 2.8 percent y/y in September

Egypt

•  Orascom Construction's share buyback offer attracts 5.939 mln shares
•  Orange Egypt asks to acquire 4G licence, official at regulator says
•  Orange Egypt signs 4G licence deal worth $484 mln
•  Egypt has contracted to import 420,000 tonnes of sugar, seeks 200,000 more
•  Egypt to hold international tender for 500,000 tonnes of rice –statement
•  Egypt's debts to international oil companies rise to $3.58 bln at end-Sept: minister
•  Egypt's $2 bln deposit from Saudi Arabia showed in September reserves
•  Egypt’s Stocks Rise Most in World Amid Mounting Devaluation Bets

Ghana

•  UK Cuts Aid To Ghana

Kenya

•  Kenyan private equity firm Fanisi Capital launches second fund
•  Equity bank on technology amid halt in branch expansion
•  Kenya Airways to stop ticket sales unless pilots withdraw strike threat
•  Kenya Airways Chairman Prepares Exit Ahead of Pilot Walkout
•  Kenya to sell 15-yr infrastructure bond in Oct – central bank
•  Kenya secures 2-year deal to keep out cheap sugar imports: report
•  Kenya to make Sh3b loss from early crude oil exports, warns report
•  German lender MyBucks eyes Kenya banking licence in race for clients

Malawi

•  Malawi's consumer inflation slows to 21.2 percent in September

Nigeria

•  Nigeria approves transfer of Visafone shares to MTN following takeover
•  UBA, European Investment Bank Seal €60 million Investment Deal
•  UBA Grows Profit Before Tax to N62bn In Nine Months
•  Reversal of foreign investment crashes Guinness shares further
•  UBA, European bank sign agreement on private sector financing
•  First Bank gets approval to sell forex to BDCs
•  Unilever restates commitment to economic growth
•  Forte Oil Records N3 Billion Profit After Tax in Nine Months
•  Nigerian pension funds shift to bonds as currency woes deter equity investors
•  FG finalises plan to set up DBN with $1.3bn
•  Nigerian Banking Industry Seen in ‘Full-Blown’ Credit Crisis
•  Nigeria's revenues fall far short in first half of year
•  GE interested in Nigeria railway concession worth around $2 billion
•  Nigeria to Boost Foreign Borrowing in 2017 to Fund Budget
•  Nigerian banks have strong buffers to weather crisis: central bank
•  Nigeria mining ministry in talks over $500 mln fund and corporate bonds
•  CBN chief stresses need for exchange rate stability

Tanzania

•  Tanzania's energy regulator cuts retail fuel prices
•  Tanzania inflation slows to 4.5 pct yr/yr in Sept
•  Demand for t-bills impressive
•  Tanzania Agriculture Development Bank set for more govt support
•  Treasury bonds sale undersubscribed

Zambia

•  Diversify export base, IMF urges Zambia
•  Zambia tells IMF will cut $1 billion in subsidies

Zimbabwe

•  Delta to commission new plant
•  Poor sales drive Truworths FY revenue lower
•  Blanket Mine Q3 gold output up 7pct
•  Border Timbers Revenue Up 47pc
•  Government in Bid to Revive Zisco
•  Hwange shortlists bidders
•  ZSE awaits approval for Zeem listing requirements
•  RBZ measures hit car import
•  Zimbabwe’s gold rallies as diamonds lose shine
•  Q3 revenue collections above target – Zimra