#Africa #Markets – Factors to watch on April 3

NAIROBI, April 3 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Monday.
– – – – –
GLOBAL MARKETS
Asian shares started the week modestly higher on Monday
after a bumper quarter as investors look to the shape of
U.S. trade and economic policies and how they could affect
global growth.

WORLD OIL PRICES
Oil futures dipped on Monday as a higher U.S. rig count
indicated rising shale output and stoked worries about
global oversupply, while a stronger dollar also pressured
prices.

SOUTH AFRICA MARKETS
South Africa’s rand recovered some ground on Friday as
investors took profits after the currency fell sharply
following President Jacob Zuma’s late night decision to
remove finance minister Pravin Gordhan.

NIGERIA RESERVES
Nigeria’s forex reserves fell to a two-week low and the
naira eased on the black market on Friday after the central
bank pledged to step up dollar sales but also said it would
announce a new currency rate for retail exchange bureaus
next week.

NIGERIA BOURSE
Legislation paving the way for the eventual listing of
shares in the Nigerian Stock Exchange (NSE) should be passed
this year with the government supporting the move, the
bourse’s chief executive Oscar Onyema said on Friday.

GHANA BONDS
Ghana raised 3.42 billion cedis ($790 million) from a debut
15-year domestic bond issued on Friday, paying a yield of
19.75 percent, lead arrangers said.

KENYA BONDS
Kenya aims to issue its first ‘green’ bond this year, the
initiative’s backers said on Friday, bolstering the nation’s
reputation for financial innovation after the government
launched the world’s first mobile phone bond earlier this
month.

KENYA INFLATION
Kenya’s inflation rose to 10.28 percent
year-on-year in March, its highest level since May 2012,
pushed by higher food prices, the statistics office said on
Friday.

KENYA CURRENCY
The Kenyan shilling edged up on Friday but remained
broadly in its recent range as supply and demand for dollars
were well balanced, traders said.

CONGO SECURITY
The U.N. Security Council on Friday cut the troop cap by 18
percent for its peacekeeping mission in Democratic Republic
of Congo after reaching a compromise with the United States,
which wanted a bigger cut to the largest and most expensive
operation.

TANZANIA POWER
Tanzania plans to import 400 megawatts (MW) of electricity
from Ethiopia to power its industrial drive, Tanzanian
President John Magufuli said on Friday.

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