Weekly African Footprint: September 19, 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

•  Barclays Egypt to open new branches, expects profits to grow
•  Egypt targets 11 pct budget deficit in fiscal 2014/15
•  Power cuts biggest hurdle to investment in Egypt -minister
•  Egypt expects $425 mln from Islamic Development Bank, for refinery, airport
•  Egypt, Qatar edge up; UAE markets slip
•  Egypt tourism could fully recover by end 2015 if stability persists: minister
•  Egypt's GDP growth reaches 3.5 pct in Q4 of 2013/14 fiscal year -fin min
•  Egypt to buy 65% of oil product imports from UAE

Ghana

•  CAL Bank eyes unbanked sector
•  Bank of Ghana committee likely to hold policy rate
•  Ghana starts talks with IMF with public sector reform on agenda
•  Bank of Ghana Keeps Benchmark Rate at 19% as Cedi Stabilizes
•  Cut in supply of Nigeria gas to Ghana could hurt economy

Kenya

•  Safaricom shareholders approve Sh7bn yuMobile buyout
•  Kenya banks look to another year of super profits
•  Top shareholders support NIC Bank Sh2bn issue
•  Nakumatt to open at Donholm
•  Kenya cuts pump price of petrol, diesel after import costs fall
•  Kenya's president approves 5 pct capital gains tax
•  Kenya central bank says in market to mop up 10 bln shillings
•  Price of top-grade Kenya tea up at latest auction
•  Kenyan Shilling Gains After Central Bank Says Reserves at Record

Mauritius

•  Foreign investment in Mauritius jumps, real estate gets most

Nigeria

•  With 23.5% Stake, QNB is Now Largest Shareholder in ETI
•  Lafarge Africa Completes Acquisition of Lafarge South Africa, Others
•  Access Bank Plans N68bn Rights Issue
•  Stanbic IBTC Opens IPO for N1bn Exchange Traded Fund
•  Access Bank to raise N68bn in rights issue
•  Niger Delta Exploration to Raise $450m through Public Offer
•  Nigeria inflation rises for sixth month to 8.5 pct in Aug - Stats Office
•  Nigeria Concludes Two-year Strategy to Raise Trade with Asia to $80bn
•  Nigeria Mulls $20 Billion Offers to Sell Transmission Assets
•  Total resumes $2.5 bln Nigerian deepwater oil field sale
•  NSE Places Access Bank Shares on Technical Suspension
•  Monthly Oil Revenue Declines Further to N601.64 in August
•  Nigerian Minister Says Cocoa Crop to More Than Double
•  Nigeria's oil savings account at $4.1 bln as at Sept. 16
•  Nigeria oil union strike not affecting exports-Shell
•  FG Renews Plan to Establish National Carrier

Tanzania

•  Tanzania receives $565 mln financing to expand port
•  Tanzania signs gas deal with France's Maurel & Prom and partners
•  Tanzania plans to lift gold output at state-owned mine

Zambia

•  Zambia, Zimbabwe mobilise $280 mln for Kariba dam repairs

Zimbabwe

•  Delta slashes beer prices
•  National Foods posts solid results
•  U.S $3 Billion Project Commissioned
•  Inflation Heads Southward, Again
•  World Bank approves establishment of private sector development fund
•  Zimbabwe cuts royalty on gold to boost production
•  Russia says Alrosa prospecting for Zimbabwe diamonds
•  IMF Team Arrives in Zimbabwe
•  Shanghai Electric-led Chinese JV plans 1,200MW Zimbabwe power plant