Weekly African Footprint: September 23, 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.

Egypt

•  Orange Egypt rejects Telecom Regulator 4G license terms
•  Egypt sets up committee to resolve agricultural trade standoff with Russia
•  Egypt Edges Closer to Final IMF Nod for $12 Billion Loan
•  Devaluation would boost Egyptian exports by 10 pct
•  Egypt expects 2-3 IPOs in first year of privatisation plan
•  Egypt trade deficit narrows by $7 bln since January: trade minister
•  Egypt's current account deficit rises to $18.7 bln in FY 2015-16
•  Egypt's central bank unexpectedly keeps rates unchanged

Ghana

•  Interest rate jumps to more than a decade high
•  Mobile money float tops GHC700 million
•  Multinationals to be listed on Ghana Stock Exchange – SEC
•  Ashanti Region loses GHC5 million to fires
•  Ghana to issue first domestic dollar bond next month - Finance Minister
•  Ghana’s Central Bank Keeps Benchmark Interest Rate at 26%
•  Cedi stability to be sustained – Governor
•  Ghana forecasts 2016/17 cocoa crop of at least 850,000 T: officials
•  Ghana's Cocobod signs $1.8bln loan for 2016/17 cocoa purchases
•  Ghana could be Africa's number four oil producer by 2020
•  Ghana to receive $500 mln World Bank guarantee for ENI gas

Kenya

•  Safaricom's M-tiba health App to go nationwide
•  TransCentury share gains 25pc on Kuramo Capital rescue plan
•  Equity, Safaricom entice PayPal customers with faster cash transfers
•  Kenya's Mombasa port cargo up 1.4 pct in first half
•  Kenya central bank cuts main lending rate to 10 pct
•  Banks stare at thin trading margins
•  Kenya central bank: cap on rates may hit commercial bank lending
•  Rising interest in T-bills dims banks’ prospects

Malawi

•  Malawi's August inflation slows to 22.8 percent year/year

Mauritius

•  Mauritius trade deficit widens 8 pct in July

Nigeria

•  Conoil posts N1.6b pre-tax profit in H1 2016
•  Oando signs $115.8m agreement with Helios
•  Oil discovery in Lagos excites Dangote
•  Guinness Nigeria Records N2 Billion Loss, First in 30 years
•  Flour Mills of Nigeria targets export to Europe, weaker naira helps
•  Guinness Nigeria Secures $95m Loan from Diageo
•  Conoil Gains 97% as Investors Increase Demand on Impressive Results
•  Funding Nigerian oil cash calls from debt key for economy: minister
•  Nigeria central bank keeps benchmark interest rate, cash reserve ratio
•  Nigeria sues ENI, Chevron, other oil companies: firms, official
•  Rate cuts not enough to get Nigeria out of recession
•  Nigeria naira at record black market low as dollar reserves shrink
•  Nigeria hunts down 700,000 firms in tax crackdown to offset oil slump

Tanzania

•  Acacia bullish of mining prospects
•  Digital payment set to boost tax collection
•  Mortgage business up 30 pc Q2

Zambia

•  CEC to commercialise biodiesel plant

Zimbabwe

•  Dawn back in black with $480k H1 profit
•  FML reports five-fold H1 PAT to $2,6 million
•  RTG quits Mozambique as civil conflict escalates, govt cuts spending
•  Innscor FY revenue up 6pct to $586mln, to focus on Zim operations
•  NicozDiamond sells off Uganda operation
•  EcoCash partners Mukuru
•  Zimpapers H1 PAT drops 70pct
•  Banking sector core capital up 5,8%
•  Micro-finance Institutions loans down in H1
•  DBZ says $50mln ZPC bond fully subscribed