Weekly African Footprint: August 11, 2017

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.


•  IMF revises Botswana's 2017 growth forecast as diamond demand rises


•  Egypt expects 3-5 IPOs before year-end -stock exchange vice chair
•  Egypt's stock exchange gets new chairman
•  Egypt's Suez Canal revenues jump to $446.3 mln in July - Reuters calculations
•  Yields drop sharply on Egypt's T-bills after foreign currency reserves surge
•  Billionaire Saudi prince to invest about $800 million in Egypt
•  Egypt's fuel subsidy spending rose to $6.76 bln in FY 2016-17
•  Egypt's annual urban consumer price inflation accelerates to 33.0 pct in July
•  Average yields drop on Egypt's six-month, one-year T-bills


•  GIPC woos Israeli investors
•  Cocoa production gets boost as Iran set to construct 30,000-tonne chocolate factory


•  KCB in partnership with UnionPay to issue d
•  Kenya Re sets aside Sh104m for bad debt
•  Kenya Airways shareholders back restructuring plan
•  Vodacom completes purchase of 35pc Safaricom stake
•  Afreximbank opens shareholding to public in Sh31bn offering
•  Baloobhai Patel sells two million Flame Tree shares
•  Intimidation Tactics Gagging Traders in Kenya's Currency Market
•  Trade deficit up 46pc as imports rise sharply
•  Political tension subdues trading at Nairobi bourse
•  Interbank rate hits year high of 9 per cent on low liquidity


•  Mauritius inflation falls to 5.3 percent year-on-year in July


•  MTN to go ahead with Nigeria listing
•  Union Bank has sufficient cover for loans to telecoms group 9mobile
•  Nigeria's Union Bank aims to close 50 bln naira share sale year-end
•  Lafarge to merge Nigerian units to simplify ownership structure
•  Nestle Nigeria Records N16.5bn Profit on Reduced Finance Cost
•  Dangote to Commence Operations in Fertiliser Plant in First Quarter 2018
•  Dangote, Kano sign MoU on 100MW solar power plant
•  Zenith Bank Records N75bn Profit, Declares N7.8bn Interim Dividend
•  Naira reverses gain, closes at 363/dollar
•  FG offers monthly Savings Bond at 14.54%
•  Nigeria to refinance $3 bln worth of T-bills with dollar debt


•  Central bank slashes rates again to boost credit for private sector
•  Shilling stability seen to continue
•  Amend VAT law, JPM orders
•  Inflation on downtrend -NBS
•  Shilling tips to gain in Q3
•  Sino-Tanzania trade reaches 4.6 billion USD


•  Zambia Central Bank Reduces Key Rate to Lowest Since 2014


•  Budget deficits threat to Zim economy: WB
•  More lithium discovered at Premier’s Zulu Mine
•  S.Africa's Transnet to recapitalise Zimbabwe rail firm
•  Old Mutual profit grows seven-fold to $89mln in H1
•  ZB Holdings net profit up 38 pct in H1
•  Hotelier African Sun back in black with $190k H1 profit
•  CFI minority shareholders snub Stalap offer
•  Barclays Zim H1 net profit trebles to $9,5mln
•  First Mutual to acquire NicozDiamond as NSSA calls the tune
•  CABS H1 profit falls 20pct to $16,5mln
•  Dairibord narrows loss to $845k in
•  Foreign buyers dumping local shares in droves
•  Local investors sustain ZSE momentum
•  Securities Commission tells CFI minority shareholders to ignore Messina offer
•  Local authorities can issue infrastructure bonds – Chinamasa
•  Cash-strapped Zimbabwe plans $1 billion Robert Mugabe university
•  Fuel marking could save Zim $240mln annually, says expert

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