March 8, 2018 / 4:52 AM / 5 months ago

African Markets - Factors to watch on March 8

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Thursday.
    - - - - -
 EVENTS:
 *Tanzania releases inflation data for February
 
 
 GLOBAL MARKETS
 Asian shares found relief on Thursday as fears about a
 global trade war amid U.S. President Donald Trump's push to
 introduce protectionist tariffs were tempered by signs the
 move could include carve-outs for key partners.            
            
 
 WORLD OIL PRICES
 Oil prices steadied on Thursday after falling the previous
 day on the back of record U.S. crude production and rising
 inventories.                 
 
 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 African rand weakened on Wednesday along with other
 emerging markets as investors dumped risky assets after a
 key free trade advocate in the White House resigned, fanning
 fears U.S. President Donald Trump will trigger a trade
 war.            
 
 
 NIGERIA SECURITY
 More than 20 people have died in clashes between herders and
 farmers in central Nigeria, police said, part of an outbreak
 of violence that has piled pressure on President Muhammadu
 Buhari less than a year before elections.                
 
 
 NIGERIA ECONOMY
 The International Monetary Fund said on Wednesday that
 Nigeria was slowly exiting recession but remains vulnerable
 because its growth is tied to oil prices and improved
 revenues are restricted to the energy and agriculture
 sectors.            
 
 
 NIGERIA AEROSPACE
 Nigeria ordered an audit of domestic airline Dana Air after
 one of its planes overshot a runway in the city of Port
 Harcourt last month, the latest in a series of incidents, a
 presidency spokesman said on Wednesday.                
 
 
 NIGERIA DISEASE
 An outbreak of Lassa fever, a viral hemorrhagic illness, has
 killed 110 people this year in Nigeria in an "unprecedented"
 outbreak that has hit half of the states in Africa's most
 populous nation, its disease control agency said on
 Wednesday.                
 
 USA AFRICA
 U.S. Secretary of State Rex Tillerson flew to Ethiopia at
 the start of his first diplomatic trip to Africa on
 Wednesday, seeking to bolster security alliances on a
 continent increasingly turning to China for aid and
 trade.                
 
 
 KENYA MARKETS
 The Kenyan shilling        was stable against the dollar on
 Wednesday due to slow market activity, traders
 said.            
 
 
 KENYA ECONOMY
 Kenya has asked the International Monetary Fund (IMF) to
 extend its $1.5 billion standby credit facility that is
 expiring this month for a further six months, the IMF said
 on Wednesday.                
 
 
 KENYA FRANCE/BUSINESS
 French companies will invest $10 billion in Kenya in roads,
 energy, manufacturing and other sectors, a Kenyan official
 said on Wednesday without giving a timeframe, after a visit
 by more than 60 French executives.                
 
 
 KENYA RHINO
 The world's last male northern white rhino is recovering
 from an infected leg that raised fears over the past week he
 might have to be put down, a veterinarian at a conservancy
 in Kenya said on Wednesday.              
 
 
 UGANDA MARKETS
 The Ugandan shilling        weakened on Tuesday on the back
 of higher demand for hard currency from commercial banks and
 importers across various sectors.              
 
 
 UGANDA PENSIONS
 Uganda has ditched a long-standing plan to liberalise
 private-sector pensions after concluding the reform would
 hand foreign firms an advantage over their local
 counterparts.                
 
 
 GHANA BANK
 The Ghana Stock Exchange said it had suspended trading in
 shares of Agricultural Development Bank (ADB) ADB.GH on
 Wednesday after its shareholders pledged stakes totalling 51
 percent to another lender.                
 
 
 BURKINA FASO SECURITY
 Eight people including two Burkinabe soldiers have been
 arrested in connection with an attack by Islamist militants
 that killed eight security agents in Burkina Faso's capital
 on Friday, the country's prosecutor said.                
 
 
 SEYCHELLES INFLATION
 Seychelles inflation              edged up to 4.88 percent
 in the year to February from 4.5 percent in the previous
 month, the statistics office said on WednesdAY.            
 
 
 ETHIOPIA INFLATION
 Ethiopia's year-on-year inflation rate jumped to 15.6
 percent in February from 13.4 percent in previous month, the
 statistics agency said on Wednesday.             
 
 
 MAURITIUS BONDS
 The weighted average yield on Mauritius' 10-year Treasury
 bond rose to 5.58 percent at auction on Wednesday from 4.47
 percent at the previous sale in November, the central bank
 said.                                   
 
 
 ZIMBABWE POLITICS
 Robert Mugabe's fall from favour in Zimbabwe appeared
 complete on Wednesday when youths from his former party, the
 ruling ZANU-PF, chanted slogans denouncing him, in an
 unthinkable prospect before the November de facto coup that
 ended his near four-decade rule.            
 
 
 CONGO MINING
 Democratic Republic of Congo President Joseph Kabila will
 soon sign into law a new mining code, the government and the
 country's mining companies said on Wednesday. The code has
 been vigorously opposed by the miners.                
 
 
 EGYPT RIGHTS
 The U.N. human rights chief said on Wednesday there was a
 "pervasive climate of intimidation" in Egypt in the run-up
 to this month's presidential elections marked by arrests,
 torture of detainees and "silencing" of independent
 media.              
 
 
 SIERRA LEONE ELECTION
 Sierra Leone voters queued for hours in steamy humidity on
 Wednesday to elect a new leader they hope will bring an end
 to years of economic crisis caused by the twin shocks of a
 commodities slump and an Ebola epidemic.             
 
 
 IVORY COAST EUROBONDS
 Ivory Coast will hold a roadshow in London for what would be
 the West African nation's fourth Eurobond in five years,
 Finance Minister Adama Kone told Reuters on
 Wednesday.              
 
 
 NAMIBIA ECONOMY
 Namibia's economy contracted in 2017 by 0.4 percent but is
 expected to recover and expand by 1.2 percent in 2018, and
 double that in 2019, as a return of government spending
 boosts activity, the finance minister said on
 Wednesday.                      
 
 
 CONGO ANGOLA/REFUGEES
 The U.N. refugee agency (UNHCR) is deeply concerned about
 rekindled tension in the violent Kasai region of the
 Democratic Republic of Congo and criticized the Angolan
 government for forcing some 500 refugees to
 return.            
 
 
 CONGO REPUBLIC GDP
 Congo Republic's economic growth will recover to 4 pct in
 2018, compared with 2 percent contraction in 2017, the
 national credit council said late on Wednesday.            
 
 
 
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