Weekly African Footprint: October 21, 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 promotes deputy governor to head central bank
•  Botswana's central bank leaves lending rate at 5.5 percent

Egypt

•  Egypt's GASC gets offers from three suppliers at sugar tender
•  Egypt completes long-delayed 4G mobile licence deals
•  Egypt Stocks Drop as Currency Weakening Delay Fuels Fund Selloff
•  Egypt central bank keeps pound stable at weekly dollar sale
•  U.S. working with G7 countries to fund IMF Egypt program
•  Egypt orders formation of Supreme investment Council
•  Egypt to send new investment law to cabinet next month

Ghana

•  Zenith Bank Ghana not affected by Nigeria’s economic woes
•  Access bank launches initial public offer (ipo) of shares
•  Access Bank Ghana to raise funds through share sale, convertible
•  Ghana issues maiden dollar denominated domestic bond

Kenya

•  Court bars planned Kenya Airways strike
•  Kenya Airways Pilots Postpone Strike After Talks With Government
•  SIB research shows rate capping to hit Co-op Bank the hardest
•  Eveready discloses Energizer deal accounts for 80pc of sales
•  Retail investors drive Kenya Airways up on management changes
•  KenGen’s no dividend ends near decade of shareholder payouts
•  Kenyan opposition says any new Eurobond could become "odious debt"
•  S&P raises Kenya’s credit rating from negative to stable
•  Banks brace for hard times as interest cap takes toll on lending
•  Kenya rate cap pushes drive to mobile banking to cut costs, grow
•  Sh30bn infrastructure bond bids cause T-bills undersubscription
•  Kenyan shilling inches down against the dollar

Mauritius

•  Mauritius trade deficit widens by a quarter in August

Nigeria

•  MTN illegally transferred "mind boggling" sum out of Nigeria, lawmaker tells hearing
•  Nigeria's Arik plans $1 bln share offer, possible London listing
•  Nigerian inflation rises to 17.9 percent in September
•  FG Stops Sale of GM Foods
•  Nigerian overnight interbank lending rate jumps to record high
•  Nigeria to launch development bank by January
•  Economic Diversification Not Achievable without Foreign Exchange, Says Dangote
•  Nigeria overnight lending rate at record high on tight liquidity
•  IMF Affirms Nigeria as Africa’s Biggest Economy
•  Fitch projects 2.6% GDP growth rate for Nigeria in 2017
•  Recession to worsen Nigeria’s rising debt burden
•  Nigerian property crash attracts funds looking beyond recession
•  Nigeria's distributable revenue fell 17 pct to 420 bln naira in September

Tanzania

•  Local bank introduces upfront interest in fixed deposits
•  FNB sets to go for POS
•  Tanzania performs poorly in access to credit in SSA
•  TIB’s board told to boost industrial economy

Zambia

•  Zambia's economic growth seen steady at 3 percent this year
•  ZAMACE, JSE concludes deal

Zimbabwe

•  Delta revenue falls 8pct in H1
•  RioZim buys Dalny Mine from Falgold
•  ZB to double agric funding
•  AB InBev, SABMiller merger pain: Coca Cola to terminate Delta’s bottling deal
•  Metallon gold output 18pct higher in Q3
•  Zimbabwe tax agency says local bank notes plan worsens liquidity
•  Zim slips 17 places on competitiveness ranking
•  Economy can no longer sustain current levels of corruption, Zimra head warn
•  IMF says Zimbabwe clears $108 mln in arrears; a step towards new loan