#Africa #Markets – Factors to watch on March 22

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market moves and
political events may affect African markets on Wednesday.
– – – – –
EVENTS:
GHANA – The statistics office releases the producer
inflation data.
KENYA – The central bank auctions 364- and 182-day Treasury
bills. It will also auction two re-opened bonds.

——-//

SOUTH AFRICA – Inflation data for February & current account
data for Q4 2016 expected.

——-//

GLOBAL MARKETS
Asian stocks posted their biggest drop in two weeks on
Wednesday as growing doubts about Donald Trump’s economic
growth agenda prompted investors to dump risky assets and to
rush to safe havens such as gold and government bonds.

WORLD OIL PRICES
Oil prices dipped on Wednesday as rising crude stocks in the
United States underscored an ongoing global fuel supply
overhang despite an OPEC-led effort to cut output.

SOUTH AFRICA MARKETS
Markets were closed for a public holiday.

NIGERIA RATES
Nigeria’s central bank kept the main interest rate at 14
percent as expected on Tuesday and pledged to close the gap
between the official and black market exchange rate.

KENYA MARKETS
The Kenyan shilling was stable on Tuesday, due to
balanced supply and demand of dollars, and traders said a
rate setting meeting next week could offer further
directions.

KENYA MOBILE-PHONE BASED BONDS
Kenya will start selling a mobile-phone based government
bond this week, the Treasury said on Tuesday, the
culmination of a lengthy plan to tap a new pool of investors
into government securities.

NAMIBIA LAND
Namibia’s president said Tuesday that the government is
considering radical land expropriation to spur the transfer
of property to the country’s black majority.

SOMALIA CABINET
Somalia’s new prime minister named a 26-strong cabinet on
Tuesday, including a former foreign affairs chief as finance
minister and a BBC journalist as the country’s top diplomat.

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