NAIROBI, May 31 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.
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*Kenya, Uganda to release consumer inflation data for May.
*KENYA – The central bank to auction 91-day, 182-day and
364-day Treasury bills worth a total 24 billion shillings.
*Nigeria to release its latest foreign exchange reserves
Asian stocks held steady on Wednesday, capping a fifth
consecutive month of gains as data showed China’s factory
activity grew at a steady clip this month, reassuring
investors worried about a slowdown in the world’s
WORLD OIL PRICES
Oil prices fell on Wednesday, as rising output from Libya
added to concerns about increasing U.S. production that is
undermining OPEC-led production cuts aimed at tightening the
SOUTH AFRICA MARKETS
South Africa’s rand extended losses against the U.S. dollar
on Tuesday as political tension ended the currency’s recent
rally to two-month highs. Stocks rose, with Nampak and Mr
Nigeria’s central bank said on Tuesday it had sold $482.6
million to improve dollar liquidity in the foreign exchange
market and curb pressure on the local currency.
Nigeria’s upper chamber of parliament voted on Tuesday to
halt a concession agreement with the local division of
Italian oil company Eni to repair, operate and
maintain Port Harcourt refinery, saying the deal lacked
The Kenyan shilling weakened slightly against the
dollar on Tuesday due to demand from oil and food importers
but foreign exchange inflows from diaspora remittances were
seen offering support, traders said.
Kenya’s central bank governor on Tuesday said the country’s
current account deficit will rise this year but be held down
by exports of tea and horticulture products.
Tanzania cut its 2017 growth forecast to 7.1 percent from
7.4 percent, its finance and planning minister said on
Tuesday, amid slowing private-sector credit growth and
public spending cuts.
BURUNDI FUEL SHORTAGE
Fuel shortages have paralysed the small central African
nation of Burundi, threatening further damage to an economy
already moribund after years of political violence and
raising questions about the role of the country’s only oil
Mauritius’s trade deficit widened by 30.5 percent
year-on-year in the first quarter of this year to 21.50
billion rupees ($619.24 million) on the back of lower
exports, official data showed on Tuesday.
Namibia will impose an new export tax on raw materials, fish
and forestry products to encourage domestic processing and
boost value of shipments, a senior Financial Ministry
official said on Tuesday.
MOZAMBIQUE NATURAL GAS
Italian energy company Eni will complete its
long-awaited final investment decision on a large liquefied
natural gas (LNG) project offshore Mozambique this week, a
spokeswoman said on Tuesday.
South Africa – PSCE growth in April at 5.9% yy (prev 4.98% rev); M3 at 5.3% (prev 5.62%).