Weekly African Footprint: April 08, 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

•  Egypt's Oriental Weavers to issue dividend of 0.5 pounds per share
•  Egypt's exchange bureaus investigated for hoarding dollars
•  Egypt's non-oil business activity slows for sixth month in a row
•  Saudi businessmen investing $4 billion in projects in Egypt
•  Egypt's central bank to sell $120 mln in additional auction

Ghana

•  Access Bank posts growth
•  Ecobank rules out lending cuts over defaults in loans repayment
•  Cedi Q1 performance breaks poor cycle
•  Ghana presidency appoints Issahaku as new central bank governor
•  Mineral Exports Yield $4.516bn

Kenya

•  Kenya Airways' Low-Cost Carrier to Expand With Regional Routes
•  Kenyan bank CFC Stanbic raises $135 mln dual tranche loan
•  Six banks struggle to achieve profitability
•  Kenya's central bank puts Chase Bank Ltd under receivership
•  Tough call as rivals cut Safaricom market lead
•  Africa watches as Kenya prepares to test Eurobond waters
•  Kenya's PMI falls to 52.6 percent in March-Market
•  Kenyan Cenbank governor says commercial bank lending rates still need to fall
•  Kenya's central bank puts Chase Bank Ltd under receivership
•  Kenyan shilling weakens on concerns over banking sector

Mauritius

•  Mauritius offers 20-year bond worth 1.5 bln rupees
•  Mauritius offers 20-year bond worth 1.5 bln rupees
•  Mauritius inflation at 0.9 pct in year to march

Nigeria

•  Ecobank Drags Honeywell to Supreme Court
•  Nigeria's Access Bank seeks approval for $500 mln debt sale
•  Orange to invest in Nigerian e-commerce group Africa Internet
•  Nigeria's Buhari to sign loan deal from China during visit next week
•  GTB, Zenith Bank Pay N110bn in Naira Rain to Shareholders
•  Nigeria's oil company offers to discuss revenue retention claims - NRGI
•  N179b treasury bills' maturity, forex bid refunds crash lending rates
•  Market Sheds N1.1tn in Three Months on Bleeding Banking Stocks
•  Nigerian MPs submit budget to president, blame delay on government
•  Nigeria targets sale of 40 percent of new state oil firm: draft bill
•  Nigeria gets $200 mln from oil majors to help pay fuel imports: NNPC

Tanzania

•  Tanzania tax tribunal orders Acacia to pay $41.3 mln
•  DSE self-listing around the corner
•  Tanzania to increase its 2016/17 budget spending by almost a third
•  Tbills yields decline despite oversubscription

Zambia

•  Zanaco's securities investment dwindles
•  Puma records drop in 2015 revenue
•  Zambia's kwacha gains 1.6 pct as copper ticks higher
•  Zambian government in talks with mining firms over power prices
•  Zambian kwacha rallies to 7-month high after Moody's cheers Glencore investment

Zimbabwe

•  African Sun reports $8,3 mln loss as revenue dips
•  RTG recovers to $1 mln operating profit, EBITDA up 300pct
•  Hwange posts $115m loss
•  Hwange shortlists potential partners for new concessions
•  Potraz says Econet biggest contributor to telecomms fund, scorns talk of state firms not contributing
•  Steward Bank gets $15 million loan facility for SME lending
•  Hwange Colliery to cull top management, workforce after $115mln FY loss
•  Blanket Mine Q1 gold production up 9pct to 307kg
•  NSSA eyes 40pc stake in Telecel
•  Zimbabwe minister says banks have credible plans to sell stakes to locals
•  Banks weather storms, notch combined $128 million FY 2015 profit
•  RBZ says high rate of defaults threaten micro-financiers
•  Exports fall 15 percent in 2015

contacts
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  • South Africa +27 (11) 243 9030
  • Nigeria +234 (1) 342 9185

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