Markets and Commodity figures

04 April 2017
Price Price MKT Cap Shares in
Company Ticker Sector Country US$ Change* US$Mn P/E Issue Mn

SAB Miller SAB SJ Beverages South Africa 61.04 -3.5% 98 315.82 34.8 1 610.6
Anglo American AGL SJ Mining South Africa 15.73 0.3% 20 106.49 -9.6 1 278.5
Sasol SOL SJ Oil & gas South Africa 30.10 5.6% 19 609.26 9.3 651.4
MTN Group MTN SJ Telecommunications South Africa 9.40 -5.3% 16 899.05 16.4 1 797.2
Standard Bank SBK SJ Banking & finance South Africa 11.08 -12.7% 17 688.81 10.3 1 596.6
Anglo Platinum AMS SJ Mining South Africa 23.59 4.7% 6 329.29 128.1 268.3
ANGLOGOLD ASHANTI LTD ANG SJ Mining South Africa 11.04 -0.8% 4 507.05 -94.2 408.2
Tullow Oil plc TLW GN Oil & gas Ghana 4.82 1.4% 4 392.76 381.7 911.4
Maroc Telecom IAM MC Telecommunications Morocco 13.79 -1.1% 12 120.41 19.8 879.1
DANGOTE CEMENT PLC DANG NL Building Materials Nigeria 0.53 -0.2% 9 093.86 14.6 17 040.5
Orascom Construction OCIC EY Construction Egypt 11.96 -0.6% 2 475.33 74.0 206.9
Attijariwafa Bank ATW MC Banking & finance Morocco 40.17 -4.8% 8 175.11 14.9 203.5
Nigerian Breweries NB NL Breweries Nigeria 0.98 -2.5% 7 385.83 28.4 7 562.6
Banque Marocaine du Commerce BCE MC Banking & finance Morocco 20.08 -1.4% 3 604.27 15.8 179.5
Telecom Egypt ETEL EY Telecommunications Egypt 0.63 -0.4% 1 076.15 8.5 1 707.1
VODAFONE EGYPT VODE EY Telecommunications Egypt 3.57 1.7% 857.48 6.4 240.0
BANQUE CENTRALE POPULAIRE BCP MC Banks Morocco 26.43 -3.9% 4 006.41 18.2 182.3
Lafarge LAC MC Building materials Morocco 216.90 -3.2% 5 082.30 21.9 23.4
Douja Prom Addoha ADH MC Real Estate Morocco 4.32 -4.9% 1 392.79 14.2 322.6
Sonatel Sn SNTS BC Telecommunications Brvm 41.13 -0.2% 4 112.78 13.4 100.0
Guaranty Trust Bank GUARANTY NL Banking & finance Nigeria 0.08 -6.2% 2 370.22 5.8 29 431.2
Zenith Bank ZENITH NL Banking & finance Nigeria 0.05 3.9% 1 426.72 3.9 31 396.5
CGI CGI MC Real Estate Morocco 42.46 -1.4% 781.63 14.4 18.4
Guinness Nigeria PLC GUINNES NL Beverages Nigeria 0.20 0.6% 311.40 -22.2 1 591.1
Commercial International Bank CIB EY Banks Egypt 4.15 -2.5% 4 794.13 14.6 1 153.9
First Bank FIRSTBAN NL Banks Nigeria 0.01 -0.2% 354.09 2.6 35 895.0
Abu Kir Fertilizers ABUK EY Chemicals Egypt 7.19 0.5% 605.02 6.9 84.1
East African Breweries EABL KN Breweries Kenya 2.24 2.6% 1 774.58 23.3 790.8
Safaricom Ltd SAFCOM KN Telecommunications Kenya 0.18 -2.6% 7 129.50 16.4 40 065.4
Mauritius Comm. Bank MCB MP Banking & finance Mauritius 6.34 0.2% 1 510.28 7.5 238.2
Mobinil EMOB EY Telecommunications Egypt 4.94 4.4% 494.09 - 100.0
T M G HOLDING TMGH EY Real Estate Egypt 0.50 1.1% 1 042.07 22.7 2 063.6
Poulina Group Holding PGH TU Holding Companies-Divers Tunisia 3.31 3.9% 595.08 15.6 180.0
Ecobank Transnational Inc ETIT BC Banks Brvm 0.03 4.8% 551.12 2.3 15 952.7
STANBIC IBTC BANK PLC IBTCCB NL Banks Nigeria 0.06 0.2% 575.06 7.2 10 000.0
State Bank Mauritius SBM MP Banking & finance Mauritius 0.03 0.2% 969.08 11.2 31 000.0
Barclays Bank Kenya BCBL KN Banking & finance Kenya 0.08 -11.8% 426.88 5.8 5 431.5
Banque De Tunisie BT TU Banking & finance Tunisia 3.59 -0.6% 538.33 13.8 150.0
Equity Bank Limited EQBNK KN Banking & finance Kenya 0.33 9.0% 1 231.11 7.3 3 773.7
Kenya Comm. Bank Ltd KNCB KN Banking & finance Kenya 0.34 10.2% 1 039.27 5.3 3 025.2

Africa investor Ai40 Weekly Commentary 3 April 2017

The Ai40 Investors Index experienced downward pressure for the second week in a row despite a continued upward trend in
Kenyan banking stocks on the Index. The Index fell by 1.69 points, a drop of 1.79% from last weeks value of 94.06, to close Friday
at a value of 92.37.
Global equity markets were lower on Friday as investors locked in a quarterly gain that has given equities their best start to a
year since 2012 according to Nasdaq. The MSCI world equity index fell by 0.4% on Friday following a 6.4% increase in the quarter.
In the US, losses in Telecoms, Financials and Consumer Goods dragged equity indexes to close lower on Friday. US stocks rallied in
Q1 thanks to expectations that President Trumps administration would action pro-growth policies. However, investors (and the
new administration) have recently faced sobering realities in just how tough it will be to successfully push the policy reform
agenda. In oil markets, WTI, the U.S. benchmark for the price of oil, was trading at $50.28 per barrel.
At Fridays close, the Dow Jones Industrial Average was down 0.31%, or -65.27 points, to close at a value of 20,663.22. The Nasdaq
Composite Index closed marginally lower by 0.04% or 2.61 points to end the session at 5,911.74. The S&P 500 lost -0.23%, or 5.34
points, to close Friday on a value of 2,362.72. In Europe, Germany's DAX 30 gained 2.06% and Britain's FTSE 100 gained a marginal
Composite Index closed marginally lower by 0.04% or 2.61 points to end the session at 5,911.74. The S&P 500 lost -0.23%, or 5.34
points, to close Friday on a value of 2,362.72. In Europe, Germany's DAX 30 gained 2.06% and Britain's FTSE 100 gained a marginal
0.07%. Japans Nikkei 225 fell 1.78%.

Gainers
For the second consecutive week, Kenyan banking equities were the top performers on the Index. Kenya Commercial Bank and
Equity Bank took first and second place with gains of 10.2% and 9% respectively. Last week, Equity Bank signed a 75 million credit
line with the European Investment Bank (EIB). According to The Star, the funds will be largely channelled to enterprises in import
and export businesses, including manufacturers, to promote regional and international trade. JSE-listed oil & gas firm Sasol, sat at
third place as shares for the company gained 5.6%. The company recently announced a semi-annual dividend which was set to be
paid on March 30 2017. Additionally, the stock was upgraded by HSBC Holdings plc from a hold rating to a buy rating.

Brvm-listed Ecobank Transnational and Anglo Platinum gained 4.8% and 4.7% respectively.

Losers
The Losers list from last week was a mixed picture, however, the overarching characteristic was banking stocks from various
regions. Standard Bank South Africa came in at the bottom of the heap with a hefty drop of 12.7% over the week. In Kenya, stock
for Barclays Bank was in negative territory by 11.8%. This is despite a positive development in the form of launching the first
exchange traded fund (ETF) in East Africa by the bank. According to FT, The product is a cross-listing of the $1.4bn NewGold ETF
that listed on the Johannesburg Stock Exchange in 2004 and is also listed in five other African markets.

Over in Nigeria, Guaranty Trust bank stock was down by 6.2%. JSE-listed MTN Group also found its place on the Losers list with a
 day

rter.
ed in
estors (and the

63.22. The Nasdaq

0.23%, or 5.34
inal
 0.23%, or 5.34
inal

rcial Bank and

credit
ort
at at
ich was set to be

ck

bn NewGold ETF

osers list with a