NAIROBI, Jan 6 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.
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*KENYA – The central bank to auction 182-day and 364-day
Treasury bills worth a total 12 billion shillings.
Asian shares fell on Wednesday and most emerging currencies
retreated as China allowed the yuan to weaken further,
stoking fears about its slowing economy, while a North
Korean nuclear test heightened geopolitical
WORLD OIL PRICES
Oil prices on Wednesday gave back earlier gains, retreating
towards the previous session’s close near 11-year lows as
concerns over growing supply and rising stock levels
outweighed tensions between key Middle East
SOUTH AFRICA MARKETS
South African stocks snapped a five-session losing streak on
Tuesday, buoyed by gold as a wave of risk aversion due to
growth worries in China and rising tensions in the Middle
East triggered a safe-haven rush.
The head of the International Monetary Fund endorsed
Nigeria’s efforts to tackle corruption on Tuesday while
saying it needed to reduce its reliance on oil, sharp falls
in the price of which have crippled its economy.
Several of Nigeria’s struggling oil refineries are back in
production and making enough gasoline to help “stabilise”
its availability in the country, a spokesman for the
Nigerian National Petroleum Corporation (NNPC) said on
NIGERIA MONEY LAUNDERING
Nigeria’s former defence minister has been charged with
money laundering and criminal breach of trust over 300
million naira ($1.5 million) intended for defence spending,
the financial crimes agency said on Tuesday.
The Kenyan shilling was broadly stable on Tuesday and
traders said it could strengthen in the days ahead, helped
by dollar inflows from non-governmental
Kenya’s telecoms regulator accused the government on Tuesday
of curbing the watchdog’s ability to manage competition in
the sector by recently changing the law and said the move
could discourage investments.
Uganda’s finance ministry has lowered the East African
country’s 2015/2016 (July-June) economic growth forecast to
5 percent from a previous projection of 5.8 percent, citing
the impact of higher lending rates.
Burundi’s government will not take part in peace talks with
the opposition scheduled for Wednesday because it holds some
of the participants responsible for recent months of
violence, a senior official said.
Ghana will issue a 3-year bond to raise 500 million cedis
($131 million) on Thursday to restructure debt and fund
government projects, the central bank said on Tuesday.