Weekly African Footprint: September 29, 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

•  Biggest Diamond in More Than a Century Sells for $53 Million
•  Botswana to Name Developer of $4 Billion Plant by December
•  Botswana's GDP growth speeds up in Q2

Egypt

•  Orange Egypt to receive 4G frequency on Thursday
•  Egypt expects IPO of state-owned ENPPI in Q1 2018
•  Egypt's central bank seen holding interest rates as inflation cools
•  Egypt should get third tranche of IMF credit after second review, end-2017
•  Egypt's government approves Eurobond programme of around $7 bln
•  Egypt will not raise fuel prices this fiscal year
•  Egypt central bank keeps main interest rates on hold
•  Egypt launches 4G wireless frequencies

Ghana

•  Tullow to resume Ghana oilfield expansion after border dispute ruling
•  Ghana's central bank keeps policy rate unchanged at 21 pct
•  Ghana GDP growth rises to 9.0 pct in Q2 2017

Kenya

•  Centum calls off plans to acquire 5.53 per cent Deacons stake
•  Britam gets Sh5.7bn in share sale to PE fund
•  Raila Odinga drags Safaricom into poll dispute
•  Director opposes proposed Tuskys, Nakumatt merger
•  Kenya Airways stops flights to Hong Kong, Hanoi
•  Markets calm ahead of Nasa’s anti-IEBC protests
•  Bankers see less loan earnings from 2018
•  Kenya central bank extends sale of two-year and 10-year Treasury bonds
•  KRA collection target raised to Sh1.69trn to tame borrowing
•  Kenya eyes fiscal deficit of 5.9 pct of GDP in 2018/19 fiscal year
•  Kenya's inflation at 7.06 percent year-on-year in September
•  NSE trade falls sharply on political uncertainty
•  Treasury forecasts squeeze on salaries in budget balancing plan
•  KRA loses bid to tax capital gains in advance
•  Stanlib gets more time to buy Sh245m real estate

Mauritius

•  Mauritius conglomerate Ireland Blyth posts 24 pct pretax profit rise
•  Mauritius forecasts unemployment rate to fall to 7.2 pct in 2017

Nigeria

•  GTBank - International Cash Tender Offer in Respect of US$400m 6.000 per Cent Notes Due 2018
•  Oando reduces debt position by 24% despite low oil price
•  FirstBank Increases Stake in FBNBank DRC
•  Nigeria's Fidelity Bank offers to buy back $300 mln of debt, to issue new notes
•  CBN injects $195m ahead of MPC decisions
•  Nigeria asks Senate to amend law for govt to settle 2.7 trillion naira debt
•  Nigeria central bank holds benchmark interest rate at 14 pct
•  Nigerian first quarter federal capital expenditure 336 billion naira
•  Nigeria to diversify power supply, then focus on repairs

Tanzania

•  Petra Diamonds gets Tanzanian government authorisation to resume diamond exports
•  Investors wary as Tanzania moves to assert more control over mines
•  T-bill auction attracts over half trillion shillings

Zambia

•  Zambia revises 2016 GDP growth upwards to 3.8 percent
•  Zambia's year-on-year inflation quickens to 6.6 percent in September

Zimbabwe

•  Meikles seeks new investment for hospitality and agric units
•  PPC volumes up 25pct in eight months PPC volumes up 25pct in eight months
•  Innscor grows FY profit 11pct to $34mln
•  Fidelity H1 profit doubles to $1,98 mln
•  Lafarge H1 revenue down 13pct on weak sales
•  BNC nickel production marginally up in Q1
•  GB narrows H1 loss to $254k, revenue up 24pct
•  Unifreight back in black despite $1mln revenue drop in H1
•  No Escape From Mugabe’s Madhouse Market for Big Money Managers
•  ZSE mining index passes 100 points
•  Afreximbank to bailout Zim
•  Delta, Econet lead ZSE surge
•  Panicked Zim govt threatens clamp down on social media, says economy in ‘sound shape
•  Appetite for stocks picks up
•  Zimbabwe trade deficit narrows 27pct in 8 months

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