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Weekly African Footprint: February 06 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.


Botswana

•  Botswana Budget Surplus to Widen Even as Economic Growth Slows

Egypt

•  Egypt's Al Nouran plant sugar to start operations in Q4 2016: CEO
•  Egypt's tourism revenues up 27 percent in 2014: minister
•  Egypt's foreign reserves rise to $15.43 bln at end-Jan

Ghana

•  Ghana earns $1 billion in petroleum revenue
•  Ghana Mining Companies Consider Mine Sales on Power Cuts

Kenya

•  Kenya Airways up 41pc on positive investor outlook
•  Treasury seeks an extra Sh137bn to finance major growth projects
•  IMF approves $688 million precautionary loan for Kenya
•  Kenyan shilling firms on tea inflows, outlook weak
•  Kenya's central bank to sell 2-year, 10-year bonds in Feb

Malawi

•  Malawi central bank keeps benchmark lending rate at 25.0 pct

Nigeria

•  Afren gets a months grace for $65 mln in debt payments
•  Nigeria's Seplat gets more time to make an offer for Afren
•  First Bank Unveils DR Congo Subsidiary
•  PZ Shares Rise Despite Decline in Half-year Profit
•  Skye Bank's Balance Sheet Rises to N1.5tn
•  Dangote Flour Mills suffers N2.9bn loss
•  Guinness Records 32% Decline in Profit
•  Four Nigerian Banks among Top 500 Global Banks
•  First Bank to Partner Group on N50bn Credit
•  Diamond Bank of Nigeria to curb lending on risk of slowdown and slump in the naira
•  Seplat acquires interest in OMLs 53, 55
•  Access Bank Assures Investors of Higher Returns
•  Foreign Investors Withdrew $4.5bn from Stock Market in 2014 - NSE
•  Foreign Participation in Debt Market Drops to 13.7%
•  Nigerias Nominal GDP to Hit N156.29trn in 2019
•  NSE Gives Companies Two-month Grace to Pay Fees
•  CBN to Boost Forex Liquidity with $30,000 to BDCs
•  Nigeria slashes 2015 budget as oil price slump bites
•  Nigeria naira at new record low against dollar
•  Nigeria Says It Has Budget Plans for Oil Price as Low as $45

Tanzania

•  Tanzania cuts fuel pump prices after import costs fall

Zambia

•  $200m cement factory on cards
•  Zambian president directs government to resolve mining tax rows

Zimbabwe

•  TSL Limited after tax profit declines
•  RioZim to raise $10m for mine reopening
•  Mine collapse dents Zimplats performance
•  Tetrad under judicial management
•  TSL Revenue Goes Up 19 Percent
•  Fidelity invests $2,5m in funeral assurance
•  Government urged to review 15% tax on unrefined platinum
•  AfrAsia Zimbabwe posts $9mln loss in FY2014

contacts
  • Kenya +254 (714) 646 406
  • South Africa +27 (11) 243 9030
  • Nigeria +234 (1) 342 9185

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