#Africa #Markets – Factors to watch on March 27

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market
moves and political events may affect African markets
on Monday.
– – – – –
EVENTS:
Central Bank of Kenya’s Monetary Policy Committee meets to
decide on its key lending rate.

Kenya National Bureau of Statistics to release inflation
rate for March.

——-//

KENYA – Q4-2016 GDP data expected

GHANA – Interest rate decision expected

ZAMBIA – Inflation data for March due.

——//

GLOBAL MARKETS
U.S. stock futures and the dollar fell on Monday while Asian
markets struggled as President Donald Trump’s failure on
healthcare reform raised questions about his ability to push
through tax cuts and fiscal spending to boost the
economy.

WORLD OIL PRICES
Oil prices dipped on Monday as rising U.S. drilling activity
outweighed talks that an OPEC-led production cut initially
due to end in mid-2017 may be extended.

SOUTH AFRICA MARKETS
South Africa’s rand retreated against the dollar on Friday,
giving up gains driven by improving appetite for emerging
markets assets and a set of local data showing momentum was
returning to the domestic economy.

NIGERIA MARKETS
Nigeria’s naira firmed to 390 per dollar on the black market
on Friday, up 2.6 percent from its previous session and near
the central bank’s rate for consumers, traders
said.

NIGERIA BUDGET
Capital released to Nigeria’s ministries and government
agencies under the 2016 budget has reached a record 1
trillion naira ($3.3 billion), the finance minister said on
Sunday.

KENYA MARKETS
The Kenyan shilling was stable against the dollar on
Friday and was seen rangebound as market players await the
central bank’s monetary policy rate decision on Monday,
traders said.

KENYA RATES
Faster inflation in Kenya will not prompt the Central Bank
of Kenya to hike interest rates on Monday, according to a
Reuters poll of economists who note most of the price
pressure is being stoked by food prices amid an acute
drought in east Africa.

UGANDA MARKETS
The Ugandan shilling weakened slightly on Friday,
undercut by a surge in demand for dollars from players in
the interbank market looking to beef up their
positions.

GHANA T-BILLS
The Bank of Ghana said the yield on its weekly 91-day bill
rose to 17.5103 percent at an auction on Friday, from
17.2108 percent at the last sale, on March 17.

IVORY COAST SECURITY
Ivory Coast rescinded an order on Sunday to increase
security at its two main ports after determining that an
earlier reported threat of terrorism was unfounded,
according to a document seen by Reuters.

SOUTH SUDAN
Six aid workers were killed in an ambush in South Sudan on
Saturday while travelling from the capital Juba to the town
of Pibor, the United Nations said on Sunday, without
specifying if they worked for the U.N. or giving other
details.

TANZANIA GOLD
Acacia Mining is losing more than $1 million in
revenue each day at two mines in Tanzania because of the
country’s ban on exports of gold and copper concentrates,
the London-listed company said on Friday.

ZAMBIA COPPER
Indian mining company Vedanta Resources said on Friday
it will invest $1 billion in its Zambian mining unit Konkola
Copper Mines (KCM), creating 7,000 jobs.

SOMALIA TERRORISM
The head of U.S. forces in Africa told reporters on Friday
that greater authority to fight al Qaeda-linked al Shabaab
militants in Somalia would lead to more flexibility and
quicker targeting, but that a decision had not yet been made
by the White House.

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