Weekly African Footprint: September 30, 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.


•  • Botswana's July trade balance swings to $17 million deficit
•  • Botswana's economy contracts 1.3 percent in second quarter


•  Telecom Egypt considers buying more spectrum
•  Egypt petrol subsidy bill down 29 pct in 2015-2016
•  Egypt eyes $10 bln in foreign investment as it upgrades infrastructure


•  Fidelity Bank gets positive rating from GCR
•  MTN Said to Weigh Selling $500 Million in Shares of Ghana Unit
•  Ghana 91-day bill yield edges up to 22.8675 percent
•  Ghana's gold output up 38.6 pct at 1.99 mln ounces in first half
•  Ghana cocoa regulator says to close 2015/16 season on Thursday
•  IMF Disburses Further $116 Million to Ghana in Bailout Plan
•  Ghana’s Second-Quarter Economic Growth Slowest in Two Years


•  Kenya Airways in talks with 3-4 parties on stake sale
•  KCB in Talks With Facebook, Apple on Kenya Digital Payments
•  CBK says foreign banks targeting locl market despite new rate cap
•  Kenyan shilling under pressure, remittances seen offering support
•  Two-year relief for motorists as Treasury suspends VAT on fuel
•  Kenyan shilling steady on slow corporate demand for dollars
•  Kenya economy on track for 6 pct growth, says central bank
•  Kenya secures deal to keep duty-free access to EU market
•  Kenya car industry urges more incentives to attract investment
•  Kenya's inflation at 6.34 percent yr/yr in September


•  Mauritius MCB Group full-year pre-tax profit up 21 pct


•  Access Bank Plan to Issue Fresh Eurobond
•  Diamond Bank Reinforces Business Strategy
•  MTN denies illegal transfer of $14 billion from Nigeria
•  Gas shortages turn Nigeria's Dangote to coal to power cement
•  NNPC posts N24bn deficit in one month
•  Nigeria loses N6.33tr to naira devaluation
•  Nigeria in talks with African Development Bank for $1 bln loan
•  Abuja says India to purchase more crude from Nigeria
•  Airline revenues blocked in Nigeria drop by over 50 pct-trade group
•  Bond Investors Warm to Nigeria as It Plans First Deal Since 2013
•  FG targets 7% GDP contribution from mining
•  Nigeria Banks Find Raising Cash ‘Tough’ in Shrinking Economy
•  Tight Monetary Policy Will Help Stabilise Naira, Attract Foreign Investors
•  Nigeria to cut taxes for small firms


•  Local brewing firm endorses Dar industrialisation drive
•  Investor demand for T-bills increases as tight liquidity eases
•  Investors capitalise on low market prices of stocks
•  Tanzania to Issue Telcos With Separate Licences for Mobile Money Platforms
•  Tazara invites investors for $1.2bn investment gap
•  Tanzania Q2 2016 GDP growth up at 7.9 pct
•  Dar is Africa’s bright spot in economic growth


•  Zambia, Zimbabwe Pick AfDB Advisers for $4 Billion Hydro Dam


•  NMB, DFI negotiations at advanced stage
•  Zimre Property records 56% profit
•  Chinese to design $2.1 billion Sengwa power plant
•  BNC Sales Rise 53 Percent
•  Rainbow Tourism Group records profit
•  Innscor Africa’s revenue increase to US$586 million
•  Simbisa reports 23pct drop in profit
•  Hippo Valley banks on Tokwe-Mukosi completion to boost production
•  Fidelity H1 profit falls 66 pct on finance costs
•  Axia makes $2,3mln profit in Q4
•  Zimre H1 PAT up nearly 50pct
•  StarAfrica considers debt-equity swap after defaulting on payments to creditors
•  Chloride Zim production capacity up 50pct on $3mln Korean investment
•  Lafarge H1 losses widen to $2,2 mln on weak sales
•  ZSE loses $1.1 billion

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