Weekly African Footprint: February 28 , 2014

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.


•  Egyptian food group Juhayna posts 0.9% rise in 2013 net profit
•  Egypt food supply shake-up sees official refereed to prosecutors
•  Egypt investment law bars 3rd party challenge to contracts
•  Egypt government resigns, paving way for Sisi to seek presidency
•  Egypt banking sector outlook still negative : Moodys
•  Egypt central bank keeps key interest rates on hold
•  Egypt M2 money supply grows 16.7% y/y at end Jan: C.Bank


•  Bank of Ghana defends directives on foreign market operations
•  Ghana’s 2013 budget gap revised up to 10.8%
•  Ghana's economy grew 5.5 pct in 2013: IMF
•  Producer price inflation increases to 23.3%


•  EABL eyes savings in shift to canned beer for exports
•  KQ signs deal to sell low cost carrier tickets on phone
•  Equity Bank seeks share of telco business
•  Kenya's KCB Bank posts 17 pct rise in 2013 pretax profit
•  Kenya Power says H1 pretax profit up 17 pct
•  TransCentury announces plan to acquire Aureos Capital shares
•  Unga posts H1 profit jump, new taxes a strain
•  Kenya tea prices fall at latest auction
•  Kenya’s top banks post double-digit profit growth
•  Kenya inflation at 6.86% y/y in February


•  Ecobank Nigeria pledges sustained power sector financing
•  Nestle offers N24 dividend, as NSE index drops 0.76%
•  Honeywell Flour Mills’ Revenue Grows by 24%
•  Ecobank Nigeria to invest $5bn annual in power sector
•  IHS NIGERIA PLC - Placing of Full Suspension
•  Dangote Flour Mills says Q1 loss widens to 2.87 bn naira
•  Nigeria court rules cenbrank governor can’t be arrested pending plea
•  Nigeria’s next central bank chief a steady hand, who’ll keep out of politics
•  2014 Budget: House suspends consideration of revenue framework


•  Tanzania's Tigo starts cross-border mobile money transfer service


•  Zambia suspends operations at Vedanta mine after accident
•  Halting of Konkola Deep ops to affect revenue
•  Gemfields Zambian emerald auction generates record revenue
•  BOZ to increase statutory reserve ratio
•  Zambia's GDP 25.2 percent bigger after rebasing
•  Zambia's inflation quickens to 7.6 pct y/y in February


•  BAT Zim volumes down 17%
•  Mwana Africa sacks chairman
•  ZSE directs Africa Sun Limited to retract statement
•  CBZ to issue US$200m bond
•  Lafarge Cement in bid to increase volumes
•  Mash Holdings revenue drops 4%
•  Foreign investors remain major drivers of ZSE
•  Govt to set up SPV for RBZ debt
•  Tobacco earnings hit USD 9.7m mark

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