Weekly African Footprint: July 07, 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.

Botswana

•  Botswana's economy grows sluggishly in first quarter of 2017

Egypt

•  Egypt attracted $9.8 bln foreign investment in debt instruments in 2016-2017
•  Egyptian government appeals ruling on food inspection system
•  Fuel price hike to add 3-4.5 percentage points to Egypt's inflation
•  Egypt's non-oil business activity contracts for 21st month in June
•  Egypt to raise electricity prices by between 18-42 pct -electricity minister
•  Egypt's central bank hikes key interest rates by 200 basis points

Ghana

•  MTN earmarks $145 million for expansion in 2017
•  ENI pumps first oil from Ghana's Sankofa field
•  Government to meet IMF board this month
•  Moody's red flags Ghana's high debt, touts strong economic growth outlook

Kenya

•  KCB to handle Safaricom’s M-Pesa cash
•  TransCentury’s stake purchase values subsidiary at Sh4.4bn
•  Moody’s accords Co-op and Equity high deposit ratings
•  Kenya's Barclays Bank says to shut down seven branches
•  Kenya Airways seeks shareholders’ nod on revival plan
•  CocaCola Africa buys out Kisumu bottling company
•  Dutch banking giant gets Equity shares
•  Kenyan growth slows in Q1 hurt by drought, credit slowdown ahead of election
•  Kenya's year-on-year inflation falls to 9.21 percent in June
•  Kenyan shilling eases, eyes on central bank dollar sales
•  Kenya Government Reviews Mine Laws as Industry Struggles to Grow
•  Kenya’s sugar imports up 36pc in four months on shortage

Malawi

•  Mauritius inflation rises to 6.4 percent year-on-year in June

Nigeria

•  Honeywell Flour Recovers from Loss, Posts N5.5bn Profit
•  Etisalat Nigeria chairman resigns after debt talks collapse
•  Seplat receives one year extension of $150m facility
•  Zenith, FBN, GTbank, Access, UBA, Diamond among Top 1000 Global Banks
•  Guinness Nigeria starts $126 mln share sale to cut funding costs
•  Access Bank Opens Second Digital Bank in Epe Community
•  Nigerian state oil firm says saved $2 bln with cheaper contracts
•  Nigeria Ranked 19th Most Attractive Investment Destination in Africa

Tanzania

•  Acacia serves govt with notice of arbitration
•  World Bank approves $345 million loan for Tanzania port expansion
•  Tanzania Passes Laws Enabling Renegotiation of Mining Deals

Zambia

•  Zambeef to increase organic compost use

Zimbabwe

•  BNC FY revenue up 7pct to $45mln
•  Hwange to resume underground mining, says will trade profitably from July
•  Outlook bright for Starafrica despite $5,8mln loss
•  NSSA PAT more than doubles to $106mln
•  BNC smelter restart project now 83% complete
•  ZEEM listing requirements to be gazetted
•  Dubai’s Albwardy withdraws Meikles bid
•  CBZ launches $11mln housing project in Vic Falls
•  Q1 mobile revenue falls 10pct as costs spike
•  ZSE main index up 36pct in H1
•  Zim trade deficit at $1bln in 5 months
•  Zimbabwe’s trade flow improves