NAIROBI, May 18 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.
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Asian stocks fell on Thursday and the dollar was stuck near
six-month lows against a basket of currencies as uncertainty
mounted over U.S. President Donald Trump’s future following
reports that he tried to interfere with a federal
WORLD OIL PRICES
Oil prices dipped on Thursday, weighed down by plentiful
supplies despite an ongoing effort led by OPEC to cut
production in order to tighten the market and prop up
SOUTH AFRICA MARKETS
South Africa’s rand retreated from three-week highs on
Wednesday as concerns over the fate of promised U.S. fiscal
stimulus pulled investors away from emerging currencies into
The Kenyan shilling edged lower on Tuesday mainly due
to demand for dollars by oil importers.
Africa-focused oil company Tullow Oil Plc said it
encountered 75 metres of net oil pay in two zones at an
exploration well in Northern Kenya.
Nigeria’s refineries processed 10 million barrels of crude
oil in the first quarter, more than they did for the whole
of 2015, after talks with militants reduced attacks on
facilities, the head of the Nigerian National Petroleum
Corporation (NNPC) said.
Nigeria plans to raise $3.5 billion in foreign loans
including from the World Bank and from international debt
markets to help fund its 2017 budget deficit, the head of
its budget office told Reuters on Wednesday.
Uganda’s energy ministry said on Wednesday it would award
three exploration licences next month and also said it had
selected two firms with whom it would start negotiations for
a possible agreement to develop a planned crude refinery.
Tullow Oil plans to drill new wells and boost output
at its TEN field off the coast of Ghana to 80,000 barrels
per day (bpd) once a maritime border dispute with Ivory
Coast is resolved, the company said on Wednesday.
Zambia is close to reaching an agreement with mining
companies over its plans to increase electricity prices,
Finance Minister Felix Mutati said on Wednesday.
Zambia’s central bank cut its benchmark lending rate by 150
basis point to 12.5 percent, Governor Denny Kalyalya said on
Wednesday, citing lower inflation and subdued economic
CENTRAL AFRICA REPUBLIC VIOLENCE
Red Cross workers have found 115 bodies in Central African
Republic’s diamond-mining town of Bangassou after several
days of militia attacks, the president of the aid group’s
local branch said on Wednesday.
South Africa – Retail sales growth in March at 0.8% yy (prev -1.6%).