Weekly African Footprint: July 01, 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's Beltone files lawsuit against heads of bourse and watchdog
•  Telecom Egypt to receive second tranche of withheld dividends from Vodafone
•  Egypt's Pioneers considers converting some shares to GDRs: statement
•  Egypt could secure $10bln loan from IMF
•  Egypt bans use of debit cards abroad amid hard currency shortage
•  Egypt's central bank says no ban on using debit cards abroad


•  Tullow unlikely to halt Ghana oil output despite damaged ship
•  Ghana Sees Debt Levels Slowing as Growth Outpaces Borrowings
•  Ghana says will not quit IMF austerity program despite polls
•  IFC, GSE partner to stimulate capital market investment
•  Banks Face Worsening Fortunes - Moody's Warns
•  Influx Of Cement Industries To Drive Price Down


•  Britam slashes stake in Equity Bank over volatile stock market
•  Mumias mills grind to a halt as farmers deliver cane to rivals
•  Kenya's NIC Bank eyes cheaper deposits to boost margins
•  Safaricom to compensate users for dropped calls
•  Kenya Power procures Sh50 billion loan to refinance its debt
•  Kenya's KenGen says rights issue raised 26.5 bln shillings
•  Kenya Airways Expects Nigeria Funds Repatriation This Month
•  Kenya Finance Minister Sees Next Eurobond at Affordable Rate
•  Kenya's bourse scales back its derivatives ambitions
•  Kenya's Q1 2016 GDP growth up, tourism boosts


•  Dangote to flood market with quality cement
•  Lafarge Africa woos investors to Ashaka Cement's offer
•  Lafarge Africa Shareholders Approves 300k Dividend, Bonus Issue
•  MTN Nigeria wins 2.6GHz spectrum auction
•  Transcorp Hilton Abuja Begins $100m Renovation Project
•  Nigeria Seeks $40-$50 Billion in Oil Investment as Output Rises
•  Devalued Naira Too Hot for Traders Seeing Further Currency Slide
•  Nigeria Ranked One of World's Most Unstable Countries
•  External reserves drop to $26.33bn
•  Nigeria signs $80 bln of oil, gas infrastructure deals with China
•  Nigerian Stock Market Gains 3.3% in First Six Months


•  NMB constructs two mobile police posts
•  DSE joins UN SSE group of elites
•  NMB, Star Times launch partnership
•  Vodacom customers can now buy cement through M-Pesa
•  EABC in fresh push for EPA deal
•  'DSE has adequate liquidity to host telecoms'
•  Tanzania sees economic growth picking up to 7.4 pct in 2017
•  Growth to pick up to 7.4 pct in 2017 - BoT


•  EU to give Zambia K1bn for diversification
•  Zambia's cost of doing business still high - FQM
•  Zambia's kwacha flat, seen stronger against dollar
•  Zambia's inflation slows to 21 percent in June


•  Dawn profit at $400k, sees weaker property market
•  Rio forecasts a 50pct surge in FY gold production
•  TelOne in bid to recover $264m debt
•  Econet Agrees to $428 Million Deal for Neotel With Investors
•  Dangote shows interest in Sengwa
•  First Mutual courts SA company
•  Agribank narrows FY loss to $5,8mln, plans to issue $20mln agrobills
•  ZPI revenue up 15pct to $2,4 mln in 5 months
•  BNC profit plunges 94pct on weak commodity prices
•  Willdale FY turnover down 20pct, says in good shape
•  Falgold remains in red, considers shutting down Turk Mine
•  Ariston records 32pc loss
•  Ariston records 32pc loss
•  Zim sets cotton price, plans to put 400,000ha under the crop
•  SEC okays debt market listings requirements
•  Government to issue $69 million TBs to settle NSSA bill
•  RBZ crafts deposit-taking law
•  Zimbabwe state asset manager takes up $480 million in bad debt
•  Zimbabwe's stock market main index falls in H1, further loses seen

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