Weekly African Footprint: June 30 , 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.

Egypt

• Nestle inaugurates first local confectionery plant
• Egypt says BP gas project restarted, pledges to pay gas firm debts
• Saudi’s Almarai, Pepsico to invest at least USD 345m in Egypt
• Preparing Egyptians for austerity, Sisi cuts own pay

Ghana

• MTN Ghana introduces new roaming package
• Barclays delegation confers with Veep
• Ghana Re pays GHC 3m as dividend to gov’t
• Ghana govt quietly reintroduces fuel subsidies: oil importers
• Ghana exceeds US$2billion revenue from oil
• Economic prospects still good— Kwame Pianim
• China urged to make Ghana manufacturing base
• Ghana Reinsurance company wants GHC 300m from govt
• Fruit juice importers milk the nation of millions
• Illegal mining endangering cocoa production
• Ghana GDP growth slows to 6.7 pct in Q1 on industry woes

Kenya

• Bamburi appoints separate CEOs for Kenya and Uganda
• Kenya Airways looks to transit business to offset drop in tourist traffic
• Oil and gas industry to face ‘net gains’ tax in revised Finance Bill
• World Bank pledges $4 bln to Kenya over four years
• Highest price for top Kenya tea grade dips at auction
• World Bank cuts Kenya growth forecast for 2014

Mauritius

• Mauritius 364 day T-bill yield falls to 2.61%
• Mauritius trade deficit narrows 8.7% yr/yr in April
• Mauritius unemployment at 8.0 pct in first quarter

Nigeria

• Oando’s Shares Gain 52% on ConocoPhillips’ Acquisition
• Dangote Dismisses Fear of Job Losses on Account of Cement Standardisation
• Oando shares rise again on ConocoPhillips' Nigeria deal
• FG Seals UBA, Union Bank ATMs over Non-certification
• Shell pays USD 70bn to FG in five years
• FCMB to raise USD 300m for consumer lending
• Lafarge Consolidates to Compete Effectively
• FDI: Nigeria Maintains Top Three Position in Africa
• UAC Explains Improved Financial Performance
• Forex Dealers Seek Clarification on New Capital Requirements
• Nigeria sells 134.5 bln naira in T.bills at mixed yields
• Nigeria's SWIFT Payment Traffic Rises 353% in Four Years

Zambia

• Madison Financial Services to list on the LuSE
• Zambia withholds USD 600m in copper VAT refunds
• Canada's First Quantum delays $1 bln Zambia capex - director

Zimbabwe

• Dairiboard targets 25 percent market share
• BNC to seek Zesa power tariff review
• Econet mulls introducing 5G technology
• Pioneer Transport revenues stagnant
• NTS records fall in profits
• CFI to conclude land-debt swap
• Masimba turnover down
• FBC draws down $20m from Afreximbank
• IMF says Zimbabwe's economy is "fragile", urges reforms
• Bank loans to private sector marginally up
• FDI could rise to USD 1bn on Essar deal
• Bank seeks alternatives for debt relief
• Zimbabwe re-awards $1.3 bln power contract to Chinese firm
• Delay setting up sovereign fund: IMF