Weekly African Footprint: March 14 , 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's EFG seeks more investment banking revenue from abroad
•  Telecom Egypt posts net profit of EGP 2.96bn in 2013
•  Egypt’s Medinet Nasr posts net profit of EGP 187
•  Telecom Egypt expects mobile licence in March or April
•  Egypt's Orascom TMT after-tax profit tumbles 70 pct in 2013
•  UAE’s Arabtec agrees USD 40bn housing project with Egypt army
•  Egyptian urban annual inflation slows to 9.8 pct
•  Egypt to permit cement companies to use coal for energy
•  Huge housing deal may signal Gulf investment push into Egypt
•  Egypt's finance minister sees GDP growing slower than expected
•  Arab countries to send oil product aid to Egypt to Sept
•  Egypt covers 50% of foreign investors’ repatriation backlog


•  SIC Ghana Returns to Profit as Shares Reach Nine-Month High
•  Ecobank board removes CEO following months of turmoil
•  Ghana main cocoa buyer secures cheaper credit line for purchases
•  Timber: Ghana loses GHS 50m
•  Ghana to start gas processing from Jubilee field in Q3
•  Inflation shoots up to 14%, the highest in 3 years
•  2013 tax revenue target eludes gov’t


•  CIC Insurance plans Malawi expansion, sets bonus issue
•  Kenyan shilling steady, shares edge up on earnings hopes
•  Kenya to push ahead with Eurobond, unsure of yield
•  Kenya invites Ethiopian firms to raise funds through Nairobi bourse
•  Kenya likely to start marketing Eurobond later this month: IMF


•  Access Bank partners group on oil sector development
•  Unilever, Lafarge Wapco’s directors to decide dividends
•  FBN money market fund hits NGN 20bn
•  Japaul Oil CEO Plans to Raise $500 Million for African Expansion
•  Investors await guidance from Zenith, GT Bank FY’13 earnings
•  Dangote Becomes First Manufacturer of 52.5 Cement Grade in Afric
•  Shell reopens Nembe Creek Trunkline in Nigeria
•  Zenith posts NGN 95bn profit, pays NGN 55bn dividend
•  Dangote’s proposed refinery sees progress as India’s EIL wins $139m contract
•  FBN to Design Non-collateral Loan Product
•  Shell says Nigerian oil theft costs billions


•  Tanzania’s inflation unchanged at 6% in February
•  DSE Chief Defends Liberal Stock Market


•  Bank of Zambia spends USD 178m reserve money to salvage kwacha


•  African Consolidated Resources seeks USD 70m
•  Zimplow volumes decline, reports small profit
•  Nicoz Diamond posts 21% increase in gross premium written
•  Meikles in gold mining joint venture
•  Nicoz Diamond eyes revenue alignment
•  Lifestyle defaults on payouts
•  TSL expects tobacco boon
•  Fidelity after-tax profit declines
•  Mining can attract USD 12bn FDI
•  Companies declare dividends despite tough environment
•  BAZ to act on non-performing loans
•  Zimbabwe Seeks Help From China to Develop Platinum Refinery
•  ZSE reviews listing requirements
•  China's Sinosteel plans $780 mln Zimbabwe gas-fired plant
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