March 14, 2018 / 5:12 AM / 5 months ago

African Markets - Factors to watch on March 14

    NAIROBI, March 14 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Wednesday.
                  - - - - -
 EVENTS:
 *GHANA - Statistics office to release consumer inflation
 data for February.
 *KENYA - Energy regulator to release latest fuel price caps
 to run until mid-April.
 
 GLOBAL MARKETS
 Asian shares faltered on Wednesday amid fears of rising U.S.
 protectionism as President Donald Trump fired his Secretary
 of State, regarded as a moderate in his administration, and
 sought to impose hefty tariffs on Chinese
 imports.                       
 
 WORLD OIL PRICES
 Oil prices were stable on Wednesday after posting two days
 of declines at the start of the week.
     Support came from a report that U.S. crude inventories
 are not rising as much as expected during the spring season
 now starting, implying healthy demand, and from strong China
 data.                 
 
 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 rose on Tuesday as the dollar fell after
 U.S. President Donald Trump fired Secretary of State Rex
 Tillerson, while stocks weakened.            
 
 NIGERIA MARKETS
 Nigeria plans to raise 70 billion naira ($222 million) via a
 sovereign bond sale next week, the Debt Management Office
 (DMO) said on Tuesday, less than it has sold at previous
 auctions.            
 
 NIGERIA CENTRAL BANK
 Nigeria's Senate plans to start screening new members of the
 central bank's interest rate committee after it held up some
 of President Muhammadu Buhari's nominees in a political
 spat.                  
 
 NIGERIA REFINERY        
 Refinery overhaul projects will begin in Nigeria as soon as
 the second quarter, an official from state oil company NNPC
 said on Tuesday.            
 
 KENYA MARKETS
 Kenya's shilling        was steady on Tuesday and traders
 said it was forecast to weaken due to increased dollar
 demand from oil importers.            
 
 KENYA ECONOMY
 The International Monetary Fund has approved a request by
 Kenya to extend by six months a stand-by agreement that was
 due to expire at the end of March, giving it time to finish
 mandatory reviews, the IMF said in a statement.            
 
 KENYA KENOLKOBIL RESULTS
 Kenyan fuel distributor KenolKobil           said on
 Wednesday its full year pretax profit for 2017 rose slightly
 to 3.68 billion shillings ($36.33 million) from 3.54 billion
 shillings a year earlier, helped by higher
 sales.            
 
 RWANDA ECONOMY
 Rwanda's economy grew 6.1 percent last year, accelerating
 slightly from 5.9 percent in 2016, boosted by better
 performances in agriculture and other sectors, the
 statistics office said on Tuesday.            
 
 GHANA COCOA
 Ghana's cocoa industry regulator Cocobod is confident it
 will promptly repay its creditors, including those
 subscribed to a $1.3 billion syndicated loan, despite an
 expected drop in production, Chief Executive Joseph Boahen
 Aidoo said on Tuesday.            
 
 SIERRA LEONE POLITICS
 Sierra Leone's election to pick outgoing President Ernest
 Bai Koroma's successor will head to a runoff later this
 month after neither of the two frontrunners secured an
 outright majority in the first round, the electoral
 commission said on Tuesday.            
 
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