Weekly African Footprint: March 03, 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 cenbank sees economic growth above 4 pct in next two years
•  Botswana keeps lending rate unchanged at 5.5 percent

Egypt

•  Egypt to receive $1 bln World Bank loan in March -central bank chief
•  Egypt lowers customs exchange rate to 15.75 pounds per dollar from 16
•  Egypt's pound weakens as importers prepare for Ramadan
•  Egypt's Finance Minister to propose stamp duty on stock market transactions
•  Egypt's foreign reserves rise to $26.542 bln at end-February

Ghana

•  Pension funds seen boosting GSE activities
•  Ghana Faces Budget Bind; Unplanned Spending Roils Investors
•  Ghana aims to narrow budget deficit to 6.5 pct in 2017: budget speech
•  Ghana to review its $918 mln programme with IMF -annual budget

Kenya

•  Housing Finance ordered to pay borrower Sh45 million
•  Safaricom starts pilot phase of Lipa na M-Pesa cards
•  Barclays Africa Plans Kenya Gold ETF Listing Early This Year
•  Limuru tea projects decline in its full year earnings
•  Uchumi halves losses to Sh547 million amid falling sales
•  Mumias Sugar sounds profit warning as half-year loss escalates to Sh2.9b
•  Nestlé Kenya launches reformulated 3in1 nescafe coffee sachets
•  Vodafone Kenya Unit Faces Proposals for Split in Dominance Study
•  KenGen’s profit dips to Sh4.6bn on lower sales, higher expenses
•  Safaricom taps ex-Orange CEO, Ndemo to board
•  Kenya central bank to hold rate-setting meeting on March 27
•  Soaring food costs send Kenyan inflation sharply higher
•  Kenya's energy regulator approves coal-fired Amu Power plant
•  Mitsubishi Hitachi to supply turbines for 140 MW Kenyan geothermal plant
•  Treasury seeks additional Sh24b in infrastructure bond tap sale
•  NSE investor wealth down Sh33bn as top counters shed value
•  Tea price unchanged as high volumes hit Mombasa auction
•  Sugar stocks held by factories drop by 35pc on improved price
•  Kenya horticulture export earnings up 12 percent in 2016
•  Kenya private sector activity slows down due to drought

Malawi

•  Malawi sees bigger maize harvest despite pest invasion

Mauritius

•  Mauritius expects tourism earnings to rise 3.8 percent this year

Nigeria

•  Nigeria's Zenith Bank to seek approval to raise 100 bln naira
•  Dangote ends Nigeria’s cement importation
•  MTN Moves Closer to Nigeria Listing That May Regain Goodwill
•  Transcorp posts N5.93bn loss, Cutix announces profit
•  Nigeria's Access swapped $50 mln with JP Morgan at 400 naira in Jan
•  Nestle Nigeria Cuts Dividend as Profit Declines 66% to N7.6bn
•  Nigerian insurance market bigger than South Africa’s – Old Mutual
•  Forex: CBN’s lending to banks rises to N1.6tr
•  Nigeria's economy contracted by 1.5 pct in 2016
•  Nigeria's central bank to auction $100 mln in currency forwards
•  Nigeria boosts sales of dollars to strengthen the naira
•  Nigeria economy contracts, but "well on its way out of recession"
•  FG targets 3m bpd oil production in 5 years
•  N1.15tn revenue shortfall recorded in 2016 –FG

Tanzania

•  Tanzania's Vodacom seeks to raise 476 bln shillings in IPO
•  China's Sinoma to build $1bln cement plant in Tanzania
•  Tanzania regulator raises petrol, diesel prices

Zambia

•  Standard Chartered Bank's Zambia unit appoints new CEO
•  Barclays Bank's Zambia unit appoints new Managing Director
•  Zambia hopes for IMF programme before end-June - finance minister
•  Zambia to tag bank account holders in bid to broaden tax base

Zimbabwe

•  PPC Cement business gives NRZ a lifeline
•  Barclays FY PAT more than doubles, total income up 27 percent
•  Falgold says Dalny Mine sale to boost financial position, revive operations
•  Blue Ribbon to commence $7mln Harare plant expansion in H1
•  Amplats expects to finish constructing Zim platinum smelter in H2, 2018
•  MBCA FY profit falls 3pct
•  Getbucks FY PAT down 10 pct, deposits cross $1mln mark
•  CBZ to use TBs for long-term funding
•  ZB posts 22pct leap in FY PAT, optimistic about post-sanctions future
•  RBZ dreads further US dollar rate hike
•  Zim racks up $1,2bln budget deficit as foreign travel doubles
•  Zimbabwe public sector workers to protest over bonuses
•  AfDB debt mission heads for Zim
•  NSSA plans voluntary contributory scheme
•  ZSE main index, market capitalisation falls 3,5pct in February