April 9, 2018 / 4:47 AM / 5 months ago

African Markets - Factors to watch on April 9

    NAIROBI, April 9 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Monday.
                   - - - - -
 EVENTS:
 *Uganda central bank to announce its latest lending rate
 decision.
 *Tanzania to release consumer inflation data for March.
 
 GLOBAL MARKETS
 Asian shares crept higher on Monday as a bounce in U.S. stock
 futures soothed sentiment even as U.S. President Donald Trump
 kept up his twitter war with China just a couple of days before
 President Xi Jinping gives a keynote
 speech.                       
 
 WORLD OIL PRICES
 Oil markets stabilised on Monday after slumping around 2 percent
 last Friday on concerns over an intensifying trade dispute
 between the United States and China, as well as increased U.S.
 drilling activity.                 
 
 EMERGING MARKETS
 For the top emerging markets news, double click on            
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 SOUTH AFRICA MARKETS
 South Africa's rand weakened on Friday as resurgent U.S.-China
 trade tensions and concerns about a slow recovery in the domestic
 economy soured investor sentiment, while stocks edged
 higher.            
 
 NIGERIA PETROLEUM
 Nigeria's oil exports are expected to hold at close to 1.8
 million barrels per day (bpd) in May, loading plans showed on
 Friday.            
     Also, the Nigerian National Petroleum Corporation (NNPC) said
 on Friday it had awarded two of three gas pipeline contracts
 which in total will be worth more than $2.8 billion.             
 
 NIGERIA BANKING
 Nigerian mid-tier lender FCMB           expects loan growth to be
 flat this year - down from last year's 5.4 percent rise - as oil
 companies pay down debt, its group chief executive said on
 Friday.            
 
 KENYA MARKETS
 The Kenyan shilling        held steady against the dollar on
 Friday, underpinned by inflows from government debt auctions amid
 thin demand from importers, traders said.            
 
 KENYA TEA
 Tea production by small-scale farmers in Kenya is expected to
 jump 10 percent in the year to the end of June, as output
 recovers from a drought that hit production in the previous
 financial year, their agency said on Friday.            
 
 KENYA TELECOMS
 Kenya's three top telecom companies will offer cross-network
 money transfers by mobile phone, they said on Friday, in a move
 expected to boost competition in a lucrative market dominated by
 Safaricom.             
 
 UGANDA ECONOMY
 Uganda's economy needs to grow at least 7 percent a year for the
 next few years, up from an average 4.5 percent for the last five
 years, to service the rapidly growing public debt, a central bank
 official told Reuters on Friday.            
 
 RWANDA FINANCE MINISTER
 Rwanda's President Paul Kagame appointed Uzziel Ndagijimana as
 finance minister in a cabinet reshuffle, his office
 said.                
 
 ETHIOPIA POLITICS
 Ethiopian Prime Minister Abiy Ahmed travelled on Saturday to a
 region where clashes have displaced nearly a million people, his
 first trip since being sworn in as premier five days
 earlier.            
 
 GHANA BOND
 Government officials from Ghana will meet investors in Japan this
 week as the West African nation seeks to diversify its range of
 sovereign bondholders, the finance ministry said on
 Sunday.            
 
 GHANA MINING
 Six construction workers have been killed in an accident at
 Newmont's         Ahafo gold mine in Ghana, forcing the surface
 mine to suspend its operations, a local Newmont manager said on
 Sunday.                
 
 ZAMBIA ECONOMY
 Zambia's economy is expected to grow by more than 4 percent this
 year helped by the mining, agriculture and construction sectors,
 Finance Minister Margaret Mwanakatwe said.            
 
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