Weekly African Footprint: September 01, 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 to hold treasury bill auctions before Eid holiday, bonds after
•  Egypt to lower customs exchange rate to 16 pounds from Sept. 1
•  Egypt signs oil and gas exploration deals with Shell, Apex
•  Egypt's growth rises, foreign debt and investment surge
•  Egypt's M2 money supply up 38.74 pct year-on-year in July

Ghana

•  Stock Exchange suspends trading for five companies
•  Ghana Banks on IMF's Backing as Country Chases Ambitious Growth
•  GSE lifts suspension in trading of CLYD and TRANSOL shares
•  Ghana meets IMF to finalize exit

Kenya

•  Bamburi cuts dividend payout by half as net profit dips 36pc
•  Safaricom hit hardest as telcos pay Sh312m penalty for poor calls
•  EABL shareholders to vote on proposal for directors pay rise
•  DTB’s earnings dip 5.78 per cent on lower interest income
•  Jubilee Holdings six-month net profit rises 19pc
•  StanChart half year profit dips 34pc on rate cap
•  Kenya Power billed for idle wind farm
•  EABL prices Sh11bn parent loan on old bankers’ formula
•  Co-op Bank overtakes Equity in loans issued
•  StanChart sets aside Sh10bn for unsecured loans
•  Listed banks return up on ‘cap review’ expectation
•  Kenya central bank extends sale of five-year Treasury bond
•  Huge debt aside, economy will grow, say experts
•  Pension funds raise investment in equities to 21.5pc

Nigeria

•  SEC, NSE approve International Breweries, two others merger
•  Nigeria's UBA makes provision on loans to 9mobile
•  Stanbic IBTC Group Reports 113 % Growth in Profit to N24bn 36%
•  Allianz buys Nigerian insurer in African push
•  Nigeria's Access Bank takes impairment on 9mobile loan
•  Fidelity Bank Grows Profit after Tax by 66% to N9bn in Six Months
•  Insurance stocks: Operators, NSE move to attract investors
•  Nigerian annual inflation slows in July to 16.05 pct, food inflation soars
•  CBN Injects Additional $250m into Forex Market
•  Nigeria’s External Debt May Hit N6.31tn in 2018

Tanzania

•  New mobile bank platform to boost financial inclusion
•  T-bill bounces back to oversubscription

Zambia

•  Zambian president tells Glencore unit to accept new power prices
•  Zambia's CEC to restore full power to Glencore's Mopani Copper Mines
•  Zambia's improving growth gets modest ratings nod from S&P

Zimbabwe

•  Hwange pins hope on Zisco deal
•  Datlabs back in the black, propels SA parent firm’s FY profits
•  Mimosa HY output doubles to 60, 000oz
•  Gold set to make economy self-sufficient
•  Zimbabwe banks pile up on government paper as private sector gets squeezed out
•  Gains in heavyweights propel ZSE
•  Chinese firm R&F to invest $1 billion in latest bid to revive Ziscosteel
•  Pensions register $112 mln income in Q1, assets at $3 bln- IPEC
•  Zimbabwe’s trade deficit narrows to $1,2 bln in 7 months