Weekly African Footprint: February 20 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 Cuts Benchmark Interest Rate to 6.5% to Support Growth

Egypt

•  Egypt's Juhayna full-year profits fall to 170.1 mln pounds: statement
•  Lactalis subsidiary tops rival bid for Egypt's Arab Dairy
•  Egypt's Qalaa says seeking to raise $300 mln through divestments
•  Orascom to split construction, fertiliser units for separate listings
•  Ezz Steel posts Q3 loss of 285 mln Egyptian pounds
•  CIB gets go ahead with bonus share issue plans
•  Juhayna Food Industries profits down 48% in 2014
•  Cairo Development gets go ahead with bonus share issue plans
•  Heliopolis to sell LE260 m client debt portfolio
•  Orascom Construction to raise up to $241 mln in Egypt share offer
•  Egypt lines up $6.8 bln of Kuwaiti investment for energy projects
•  Egypt stocks slip on Libya attacks
•  Egypt issues $1.12 bln in USD denominated t-bills at avg yield of 2.23 pct
•  Triumphant Egypt return to bond market risks ultra-tight pricing

Ghana

•  Actis launches $1.9 billion renewable energy platform
•  Ghana keeps key rate steady, says positive about IMF deal

Kenya

•  TPS Eastern Africa says 2014 profit to fall at least 25 pct
•  Kenya Power workers sue over bid to outsource meter readers
•  Kenya Power says H1 pretax profit rises 53 pct
•  Britam contracts Equity, Family banks to sell pension scheme
•  Kenya's Pan Africa Insurance issues profit warning
•  KenGen to set up zones for cheaper industrial power
•  Kenyan publisher Longhorn's profit up 16 pct in first-half
•  Fresh produce exports earn Kenya Sh84bn
•  Kenyan shilling seen supported by inflows targeting bond sale
•  Kenya cuts fuel prices, cites lower import costs
•  Kenyan shilling firms on slack dollar demand, inflows
•  Kenyan Stocks Attract Nigerian Buyers in Rally to Record High
•  Stockbrokers shelve threat to stop NSE trade

Malawi

•  Malawi Jan CPI slows to 21.2 percent year/year

Nigeria

•  Afren ends talks with Seplat Petroleum over potential sale
•  FCMB Launches Mobile PoS Terminal
•  Barclays Africa Seeks Nigerian Investment Banking License
•  Nigerian Breweries declares N37.2 billion dividend
•  Forte Oil declares N2.7b, 216m shares dividends
•  Nigerian Banks Brace up for Slower Revenue Growth
•  Higher Food Prices Push Inflation to 8.2%
•  Market Records First Gain after 7 Days of Losses
•  AfDB: Nigeria is Largest Market in West Africa
•  Relief as SEC Introduces Complaints Management Framework
•  Lending rates hit 95% in interbank market
•  Nigeria Ends Regular Dollar Sales With Second Naira Devaluation
•  Nigerian Stocks Extend Rally as Naira Recovery Spurs Confidence
•  Foreign reserves drop to $32.4bn
•  Contributory pension fund hits N4.6tn

Tanzania

•  NMB Mulls Conducting Deals in Chinese Currency
•  Tigo Unveils Expansion Plan
•  Govt Five-Year Bond Oversubscribed

Tanzania

•  NMB Mulls Conducting Deals in Chinese Currency
•  Tigo Unveils Expansion Plan
•  Govt Five-Year Bond Oversubscribed

Zambia

•  Zambia Sugar to spend $82 mln on refinery to double output
•  Zambia Sugar PLC denies tax evasion assertions
•  Lake Tanganyika in $22.62m AfDB funding
•  Zambia to adopt over-the-counter derivatives
•  Kwacha to remain stressed
•  Zambian Kwacha Breaches 7 per Dollar for First Time Since June

Zimbabwe

•  Meikles suspended from ZSE for inflating RBZ debt
•  BNC concentrate production down 30%
•  RioZim says likely to report bigger loss after units perform poorly
•  Power Speed solar project stays on course
•  African Century set to start deposit-taking
•  Meikles Fights ZSE Suspension
•  BNC Spends U.S $7 Million On Capex
•  Delta invests $11 million at Bulawayo Chibuku plant
•  Zimbabwe inflation at -1.28 pct y/y in January
•  EU resumes direct aid to Zimbabwe after a decade of sanctions
•  Banks' profits in massive surge