#Africa #Markets – Factors to watch on March 29

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market
moves and political events may affect African markets
on Wednesday.
– – – – –
EVENTS:
Rwanda’s central bank to announce its key repo rate
decision.

GLOBAL MARKETS
Asian shares inched ahead on Wednesday while the dollar and
commodities held gains as investors shook off disappointment
about U.S. President Donald Trump’s failed healthcare bill
and focussed on an improving outlook for global
growth.

WORLD OIL PRICES
Oil prices on Wednesday extended gains from the previous
session, lifted by supply disruptions in Libya and
expectations that an OPEC-led output reduction will be
extended into the second half of the year.

SOUTH AFRICA MARKETS
South Africa’s rand extended losses on Tuesday after
President Jacob Zuma ordered Finance Minister Pravin Gordhan
to return early from an investor roadshow, sparking
speculation of an imminent cabinet shake-up.

NIGERIA MARKETS
Nigeria’s central bank has set a new naira rate of 362 for
the country’s retail exchange bureaus to sell dollars to
consumers, the head of the bureau association told Reuters
on Tuesday.

NIGERIA OIL
Nigeria’s crude oil exports are set to rise to 1.66 million
barrels per day (bpd) in May, according to a loading
programme compiled by Reuters on Tuesday.

KENYA MARKETS
The Kenyan shilling was stable against the dollar on
Tuesday but was expected to be under pressure due to end
month dollar demand from oil importers, traders
said.

KENYA INFLATION
Kenya’s inflation rate will remain above the government’s
target range in the next two months and then ease back
towards it, central bank governor Patrick Njoroge said on
Tuesday.

SOUTH SUDAN/KENYA AID
Four of the six aid workers killed in an ambush in South
Sudan over the weekend were Kenyans working for a local
non-governmental organisation, Kenya’s government said on
Tuesday.

UGANDA MARKETS
The Ugandan shilling was stable on Tuesday but it was
seen easing due to increased dollar demand from energy
importers and foreign firms eyeing dividend payments,
traders said.

SOMALIA TERROR
At least one soldier was killed and another was wounded on
Tuesday in a roadside bombing blamed by regional military
officials on Islamic State-affiliated militants in the
semi-autonomous Somali region of Puntland.

ZIMBABWE BANKING
Barclays is in exclusive talks to sell its stake in
its Zimbabwe unit to Malawi-based First Merchant Bank
FMB.MV, the lenders said on Tuesday, as the British bank
continues its exit from Africa.

IVORY COAST JUSTICE
A court in Ivory Coast acquitted former First Lady Simone
Gbagbo of crimes against humanity and war crimes charges
linked to her role in a 2011 civil war that killed about
3,000 people, state television announced on
Tuesday.

CONGO-UN
Villagers in Democratic Republic of Congo discovered the
remains of two U.N. investigators and their Congolese
interpreter who went missing this month in an area engulfed
in a violent uprising, a government spokesman said on
Tuesday.

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