Weekly African Footprint: December 02, 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.

Botswana

•  Botswana's Debswana says expanded mine to produce first diamonds in 2017

Egypt

•  Glencore comes out top as Egypt awards mega LNG import tender

Ghana

•  Ghana EximBank takes off
•  BoG moves to further strengthen cedi defenses
•  Ghana will end year with debt-to-GDP below 70%
•  BoG to auction of $1.8bn cocoa loan to help stabilize cedi
•  Ghana and Denmark sign €7.84m agreement

Kenya

•  National Bank's Q3 net profit falls 76.8 per cent to Sh521m on bad loans
•  Mauritius firms splurge Sh5bn on Kenyan companies in one year
•  Britam mulls cross-listing of share in Tanzania and Uganda
•  Kenya's central bank sees resolution of Chase Bank receivership in early 2017
•  Total loses largest local oil market share
•  Cash-strapped Consolidated Bank eyes Sh2.5bn injection
•  Central Bank of Kenya to hold rates at 10 pct on Nov 28
•  Kenyan shilling steady, eyes on central bank rate decision
•  European Union opposes call to terminate donor aid to Kenya
•  Credit crunch bites as banks in Kenya play it safe after rate cap law
•  Kenyan shilling steady, corporate dollar demand subdued
•  Kenya's NSE to start offering ETFs in diversification drive
•  Kenya inflation up at 6.68 percent year-on-year in Nov - stats office
•  Kenyan shilling stable, propped by remittance flows

Mauritius

•  Mauritius trade deficit widens as exports drops - stats office

Nigeria

•  Flourmills leads gainers, as banks boost NSE’s turnover
•  Qatar National Bank Converts Preference Shares to Ordinary Shares in ETI
•  Dangote Group promises to assist FG out of economic recession
•  Nipco to Pay N91.8bn for 60% Stake in Mobil Oil Nigeria
•  Bhart Airtel pays $127m to acquire Econet’s stake in Nigerian Unit
•  Nigeria UBA gets $150 mln loan from African Development Bank
•  Fitch: Nigerian Oil Sector Suffering from Security, Regulation, Weak Infrastructure
•  SEC settles N29.2b out of N80b unclaimed dividends
•  Nigeria to finish Eurobond sale by end Q1, make currency more flexible: vice president
•  Nigeria generated over $1.1bn from tourism sector in 2015
•  Nigeria's foreign currency reserves rise for first time in 15 months: cenbank
•  Investment in fertilizer industry hits $4.5 billion
•  Nigeria’s Imports Drop on Renewed Drive to Encourage Local Production

Tanzania

•  CMSA reviews Vodacom’s application for listing on DSE
•  TANICA posts 104.7m/- profit
•  BoT tells banks to lower credit risk
•  Foreign firms hit by tax demands rethink Tanzanian expansion
•  ADB gives Tanzania bank $120 million loan for infrastructure
•  Tight liquidity ‘caused non-performing loans’

Zambia

•  Zambia gets stake in $50m AfDB funds

Zimbabwe

•  Simbisa Brands outlets up 10pct in Q1
•  SeedCo H1 loss grows 66pct to $9,3mln
•  BNC back in black with $1,2mln H1 profit
•  Proplastics invests $1,5mln in plant, to almost double output
•  Axia says PAT flat in Q1
•  BNC capital projects on course
•  Implats group approves development of $264 mln Mupani mine in Zimbabwe
•  Zimbabwe govt completes $40mln Telecel takeover
•  Govt intervenes to restore power to David Whitehead Textiles
•  Govt settles $34mln Zimplats debt with TBs
•  Old Mutual lists B class shares on Zimbabwe’s secondary market
•  RBZ assures gold miners on USD payments after bond note launch
•  ZSE suspends perennial loss-maker Zeco Holdings
•  ‘Delays in foreign payments to affect gold output’
•  Parly begins bond notes hearing
•  ZSE daily turnover hits $2,5mln, highest in November
•  Zim govt signs $1bln deal for Harare-Beitbridge highway
•  Trade deficit narrows in October
•  Water crisis severely affecting beverage, dairy industries: CZI