Weekly African Footprint: May 23 , 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

• Egypt’s pioneers says to buy Rooya stake within 3 months
• Egypt's CIB says Actis sells remaining 6.5 pct stake
• Egypt's Arabian Cement makes $16mln net profit in Q1
• Egypt buys 2.5m tones of local wheat
• Egypt business pushes Sisi for energy subsidy cuts

Ghana

• Oil & Gas fund to raise GHC 50m
• Ghana May Sell Mid-Week Bills After Offers Stopped on Low Demand
• Mauritius interested in Ghana’s sugar cane industry
• Ghana to suspend issuing new gold-prospecting permits
• Ghana’s Cedi Weakens to Head for 3 Against Dollar for First Time
• Ghana begs EU to help solve economic crisis
• Ghana to distribute free fertiliser to cocoa farmers

Kenya

• KenGen seeks advisor to secure funds for 140MW geothermal plant
• Britam eyes bond in expansion drive
• NIC mulls raising capital to meet new statutory ratios
• Jubilee signs deal to operate Uganda hydro-power plant
• Top Kenyan tea price rises at latest auction
• Under-pressure Kenyan shilling holds steady, seen vulnerable
• Kenya's main port hit by worker action over pay

Mauritius

• Mauritius offers 10-yr bond worth 1.4bln rupees

Nigeria

• Flour mills invests NGN 220bn in Agro-allied businesses
• Unilever Assures Shareholders of Higher Profitability
• FCMB Set to Close Financing Deal for 450mw Azura IPP
• Caverton Boosts Market Capitalisation by N32 Billion
• Oando posts 22% increase in oil production in Q1 2014
• Diamond Bank Seeks Approval to Float $400m Rights Issue
• Skye Bank, four others compete for Enterprise Bank
• Skye Bank Secures $150m Tier-2 Capital
• Ecobank Secures $200m Facility from AfDB
• Honeywell, US Agency Sign N31bn Agreement for Sagamu IPP
• CBN Retains Interest Rate at 12%
• Nigeria’s Capital Inflow Rises to $4.94 Billion
• FG Earmarks $4bn for Power Construction, Transmission

Tanzania

• Tanzania to adopt rates—settling in four years : Central Bank Chief
• Tanzania current account deficit widens 17 pct in year to March

Zambia

• Low KCM output hurts Vedanta
• Zambia Sugar projects high cane yield
• Kwacha recovery pinned on bonds

Zimbabwe

• Blue Ribbon seals fresh capital deal
• Dairibord rolls out new plants
• Hwange Colliery considers diversifying revenue streams
• Zimbabwe Bill to Limit Institutions to Owning 25% of Banks
• SECZ approves Central Securities Depository establishment
• AfDB says looking at ways to help Zimbabwe cut debt
• Zimbabwe to Use Diamonds to Secure Loan
• Zimbabwe tightens copper trading regulations