Weekly African Footprint: March 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.


Egypt

•  Egypt's Edita to list 30 pct of ordinary shares in secondary offering
•  Egypt expects LNG deals with Shell and Total in new bid round
•  Egypt's Pioneers snaps up cheese maker Arab Dairy
•  Regulator approves Orascom Construction stock market flotation
•  Egypt's steel tycoon Ezz gives up second license before judges in retrial
•  Tobacco taxes boost local product sales for Eastern Co; foreign cigarettes down
•  Sodic invests LE400 m in 301 acre project
•  Sharkia National Food calls OGM on March 28
•  Orascom Construction IPO first phase 2.7 times covered
•  Egypt to double FDI this fiscal year: minister
•  Egypt's cabinet approves long-awaited investment law
•  Egypt sees Suez Canal zone making up 30-35 pct of economy

Ghana

•  Tullow Oil Drops on Concern Ghana Dispute May Halt Activity
•  Ghana 91-day bill yield falls to 25.8029 pct
•  BoG to shut down 40 illegal microfinance firms
•  Ghana plans to issue $1 bln Eurobond in 2015: finance minister

Kenya

•  KenGen scouts for transaction adviser to steer Sh30bn offer
•  Kenya's Centum pursuing sales to fund power, real estate deals
•  East African Portland Cement swings into half-year loss
•  National Bank of Kenya's pretax profit up 34 percent in 2014
•  Kenya's Keroche Breweries eyes market share surge to 20 percent
•  Safaricom, EABL to outperform parent firms
•  EABL issues new corporate bond, targets Sh11bn
•  Firm wants Nairobi bourse to approve Gems public offers
•  Kenya's Mumias sugar H1 loss widens, sees better second half
•  Barclays Kenya's 2014 pretax profit up 10 pct to 12.3 bln shillings
•  World Bank sees Kenya's GDP growth at 6.0 pct in 2015
•  Kenya plan needs oil price rebound-Africa Oil

Mauritius

•  Mauritius expects trade deficit to rise by 9 pct in 2015
•  Mauritius central bank seeks to buy gold from Australia
•  Mauritius yr/yr inflation rose to 2 pct in February

Nigeria

•  Forte Oil to Maximise Value for Shareholders
•  Oil producer Afren gains another extension on debt payment
•  Nestle Nigeria slows capex as consumers feel devaluation pinch
•  Nigeria's Honeywell group plans to spin off two units in next two years
•  Oil producer Afren defaults on 2016 bonds
•  Gas demand in power-hungry Nigeria to drive growth at producer Seplat
•  Access Bank Extends N52.6bn Rights Issue by Two Weeks
•  Diamond Bank sees "minimal" loan growth as economy falters
•  Flour Mills of Nigeria to cut capex as economy falters
•  Zenith, GTBank Declare Improved Profits in 2014
•  IFRS Has Increased Investor Confidence in Nigeria
•  Nigerian Sovereign Fund Doesnt Expect State to Tap It for Funds
•  Nigeria likely to lower estimate for 2015 GDP after naira drops
•  Fuel shortages hit Nigeria as currency woes hurt importers
•  Pension Assets to Hit N140tn
•  Nigerias Power Industry Held Back by Lack of Credit, Gas

Tanzania

•  Swissport posts 78 pc rise in profit
•  Dar bourse expects six more IPOs
•  World Bank loans Tanzania $300 mln to improve city
•  Tanzania cuts fuel prices for six months in a row on lower import costs

Zambia

•  Zesco in $480 million loss
•  IMF to aid economic growth
•  Zambia gets $9.5m WFP allocation

Zimbabwe

•  MBCA Bank concludes US$20 million deal
•  Mauritius firm snaps up 59,4pc Zimplow stake
•  AfrAsia banking group leaves Zimbabwe
•  HCCL closes recapitalisation deals
•  BNCs $20 million bond offer complete
•  Imperial seals another million-dollar deal with Delta
•  Zimbabwe's Innscor targets Africa expansion after H1 earnings fall
•  ZSE registers mixed performance in February
•  IMF says Zimbabwe needs credible plan to clear arrears

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