#Africa #Markets – Factors to watch on March 31

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market
moves and political events may affect African markets
on Friday.
– – – – –
EVENTS:
I&M Bank Rwanda Ltd IPO to be listed to the Rwandan stock
exchange market.

Kenya National Bureau of Statistics releases the inflation
data for March.

Uganda Bureau of Statistics releases the inflation data for
March.

GLOBAL MARKETS
Asian shares were mixed and the dollar extended its
overnight gains on Friday on signs of strong U.S. economic
growth, while the euro inched up after sliding overnight on
data suggesting slowing growth in
Europe.

WORLD OIL PRICES
Oil prices eased on Friday as traders took profits following
three days of straight gains on the expectation that an
OPEC-led crude supply cut that was initially supposed to
only last for the first half of the year would be
extended.

SOUTH AFRICA MARKETS
South Africa’s rand firmed against the dollar on Thursday in
volatile trade following a confirmation that President Jacob
Zuma plans to fire Finance Minister Pravin Grodhan, while
stocks were dragged lower by the fraught political
environment.

NIGERIA MARKETS
Nigeria’s central bank will start twice weekly currency
sales to retail exchange bureaus from next week and step up
dollar supplies to them in a bid to boost liquidity, it said
on Thursday.

NIGERIA IMF/ECONOMY
The International Monetary Fund urged Nigeria on Thursday to
lift its remaining foreign exchange restrictions and scrap
its system of multiple exchange rates in order to revive its
economy, which is in its first recession in 25
years.

KENYA MARKETS
The Kenyan shilling was broadly stable on Thursday
due to foreign exchange inflows from remittances and
charities, cushioning against demand for dollars from oil
importers.

KENYA SECURITY
Kenya has arrested a suspected Islamic State militant on the
country’s “most wanted” list who allegedly helped send
recruits to Libya and Somalia, police said on
Thursday.

KENYA BUDGET
Kenya’s Finance Minister Henry Rotich said on Thursday he
expected steady economic growth for this year as he
presented the country’s last budget before a national
election in August.

GHANA CENTRAL BANK
Ghana’s President Nana Akufo-Addo named senior monetary
policy expert Ernest Addison as central bank governor on
Thursday, a day after his predecessor resigned for personal
reasons, a statement from the presidency said.

UGANDA MARKETS
he Ugandan shilling was broadly stable on Thursday
after the central bank mopped up excess liquidity from the
money markets.

US-DEFENSE SOMALIA
The White House has granted the U.S. military broader
authority to carry out strikes in Somalia against al
Qaeda-linked al Shabaab militants, the Pentagon said on
Thursday, the latest sign President Donald Trump is
increasing U.S. military engagement in the
region.

IVORY COAST COCOA
Ivory Coast slashed the price it guarantees for cocoa
farmers by 36 percent to 700 CFA francs ($1.14) per kilogram
on Thursday and reduced taxes for the April-to-September
mid-crop amid a sharp drop in world prices.

SOUTH SUDAN-OIL KIDNAPPING
South Sudanese rebels said on Thursday they had freed three
oil workers from Pakistan and India that their fighters had
seized earlier this month.

ZAMBIA HOUSING
A Chinese bank will help finance the construction of 2,000
homes for Zambian military personnel who face a critical
shortage of housing, president Edgar Lungu said on
Thursday.

ETHIOPIA SECURITY
Ethiopia’s parliament voted unanimously on Thursday to
extend the country’s state of emergency for another four
months after Defence Minister Siraj Fegessa told it some
“anti-peace forces” were still at large.

MAURITIUS ECONOMY
Mauritius is likely to expand by 3.8 percent, up from 3.5
percent last year, lifted by a rebound in the manufacturing
and construction sectors, the statistics office said on
Thursday.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s