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1 BMCE Capital Research Exchange rates, as of Tuesday, June 21 st, 2016 Currency Exchange rates USD EUR 1 MAD TND XOF EGP TZS MUR KES NGN GHS Morocco Floating MASI (pts) 9, Daily perf % Annual perf % Floating MADEX (pts) 7, Daily perf % Annual perf % Volume (MAD m) 34.9 Market Cap. (MAD Bn) SAMIR: Six-month extension for the refinery judicial liquidation, according to the business press; SANOFI: Visa by the Market Regulator of the information notice related to the capital increase reserved for employees. MARITIME TRAFFIC: Cadix port authorities may be looking for a ship-owner to ensure maritime connections to Morocco. Tunisia 10, , , , , , , , , , , IN CASABLANCA STOCK EXCHANGE Y-O-Y MASI Jun-15 Sep-15 Dec-15 Mar-16 MADEX Commodities, as of Tuesday, June 21 st, 2016 CMDTY Price Day ch. Brent Crude Oil bbl ENERGY % WTI bbl % METALS Copper lb % Gold oz 1, % Silver oz % Lead t 1, % MINOR METALS Cobalt t 23, % AGRICULTURAL & LUMBER Coffee (Robusta) t 1, % Cocoa t (GBP) 2, % Cotton t (USc) % TUNINDEX (pts) 5, Daily perf % Annual perf % TUNINDEX20 (pts) 2, Daily perf % Annual perf % Volume (TND m) 5.2 Market Cap. (TND Bn) , , , , , , , , , IN TUNIS STOCK EXCHANGE Y-O-Y TUNINDEX Jun-15 Sep-15 Dec-15 Mar-16 TUNINDEX20 FOREIGN TRADE: A TND 307m deficit in the food trade balance at the end of May 2016 against a surplus of TND 183.2m a year earlier; INDUSTRIAL INVESTMENTS: A 21% increase in investments reported at the end of May 2016 to TND 1,429.6m Please refer to important legal information at the end of the document and on our website: Produced & distributed by all members of AFRICAN SECURITIES NETWORK (See last page of this report)

2 West Africa BRVM composite (pts) IN BRVM STOCK EXCHANGE Y-O-Y Daily perf % Annual perf % BRVM 10 (pts) Daily perf % Annual perf % Volume (XOF m) 2,374.6 BRVM BRVM 10 Market Cap. (XOF Bn) 7,668.2 PERSEUS MINING: Upcoming fund raising of a total amount of USD 76m for financing its SISSINGUE and YAOURE projects in Côte d Ivoire; MERIDIAM: Upcoming construction of a 21 megawatts solar plant for a EUR 40m investment budget in the north of Dakar in partnership with the constructor EIFFAGE; MICROCRED: The Company has been granted a USD 12m funding by MASTERCARD FOUNDATION for launching a financial inclusion program in Côte d Ivoire, Senegal and Madagascar; NOUVELLE SOCIETE SUCRIERE DE LA COMOE: The Ivorian State may sell its shares in BURKINA FASO main sugar Company; WEST AFRICAN DEVELOPMENT BANK: Approval of 11 mid and long-term loans for a total amount of XOF 59.6bn. SENEGAL: The country s economic growth is expected to average 6.6% over the period, according to STANDARD & POOR S; BURKINA FASO:,; COTE D IVOIRE: A XOF 800bn investment destined to the main country s ports in the wake of National Development plan. Egypt IN THE EGYPTIAN EXCHANGE Y-O-Y EGX 30 Index (pts) 7, Daily perf % Annual perf. +3.5% EGX 100 Price Index (pts) Daily perf % Annual perf % Volume (EGP m) Market Cap. (EGP Bn) EGX 30 EGX 100 BANK MISR: The Bank has been granted a USD 105m Murabaha financing facility from three banks from United Arab Emirates. 2

3 Tanzania DSE (pts) 2, IN DAR ES SALAAM STOCK EXCHANGE Y-O-Y TANZANIA SHARE DSE Daily perf % Annual perf % Tanzania share (pts) 3, Daily perf % Annual perf % Volume (TZS m) 12,332.8 Market Cap. (TZS Bn) 21,136.5 CRDB BANK: A 20% rise in CRDB TEMBO CARD transactions number to 193,604 on May TAX: The Government will introduce an 18% Value Added Tax on tourism services. Mauritius Semdex Index (pts) 1, Daily perf % IN THE STOCK EXCHANGE OF MAURITIUS Y-O-Y SEMDEX Annual perf % DEMEX (pts) Daily perf % Annual perf % Volume (MUR m) 57.0 Market Cap. (MUR Bn) TOURISM: The industry is expected to grow by 6.4% in 2016 vs. 8.5% in

4 Kenya NSE Index (pts) 3, IN NAIROBI SECURITIES EXCHANGE Y-O-Y Daily perf % Annual perf % NSE All Share Index (pts) Daily perf % Annual perf % Volume (KES m) 1,281.0 NSE INDEX NSE ALL SHARE INDEX Market Cap. (KES Bn) 2,076.8 KENYA AIRWAYS: Five companies expressed their interest in the purchase of a majority ownership in the Kenyan Company, of which QATAR AIRWAYS, ETIHAD AIRLINES, OMAN AIR and OMNI AIR. MONETARY POLICY: The Central Bank of Kenya holds the key rate unchanged. Nigeria NSE 30 Index (pts) 1, IN NIGERIA STOCK EXCHANGE Y-O-Y NIGERIAN ALL-SHARE NSE Daily perf % Annual perf. +1.5% Nigerian All-Share (pts) 29, Daily perf % Annual perf % Volume (NGN m) 6,789.0 Market Cap. (NGN Bn) 10,105.2 OIL: The country s earnings from crude oil and gas, Petroleum Profit Tax and Royalties, declined by 34.1% to NGN 205.1bn in Q1 2016; DEBT: The Government plans to increase external borrowing to 40% as part of its new debt management strategy over the next four years. 4

5 Ghana GSE Composite Index (pts) 1, IN GHANA STOCK EXCHANGE Y-O-Y Daily perf % Annual perf % GSE Finl Stks Index (pts) 1, Daily perf % Annual perf % Volume (GHS m) GSE COMPOSITE GSE FINL STKS INDEX Market Cap. (GHS Bn) 54.3 AMANANO RURAL BANK: The Bank has opened its sixth branch in Abuakwa. E-COMMERCE: Launch of UTRADIA, a media application specifically designed for businesses to showcase their products and services for free to their potential clients in Ghana and beyond, and to help small scale businesses. Rest of Africa ALGERIA: The country s trade balance displays a USD 9.8bn deficit at the end of May Sources Press: L Economiste, La Vie Eco, Telquel, Les Ecos, Jeune Afrique, Finance News, La Nouvelle Tribune, Aujourd hui le Maroc, Le Matin, L Opinion. Web sites: InfoMédiaire, Ministry of Finance, Info Express, Centre Marocain de Conjoncture, Le 2 minutes, Agence Eco Fin, Trésorerie Générale du Royaume, Media24, Reuters, Bloomberg, L Economiste Maghrébin, Ventures Africa, Tunisie Numérique, Tunisie News, OANDA, Fin 24, Star Africa, Investir en Tunisie, BBC News Africa, Senenews, Bourse de Casablanca, BRVM, Office des Changes, Axis Bourse, Ministère de l Energie et des Mines, CDVM, le360.ma, AfricaMoney, Ghanaweb, Allkenyanews, dailynews.co.tz, lemauricien.com. Softwares : Thomson Reuters, Six Financial Information. 5

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