#Africa #Markets – Factors to watch on June 29

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market
moves and political events may affect African markets
on Thursday.
– – – – –
EVENTS:
Mauritius releases revised 2017 GDP growth forecast and Q1
growth rate

——–//

SOUTH AFRICA – PPI, M3 & PSCE data for May expected.

———//

GLOBAL MARKETS
The dollar shuddered to its lows for the year on Thursday as
a drumbeat of hawkish comments from major central banks
signalled the era of easy money might be coming to an end
for more than just the United States.

WORLD OIL PRICES
Crude oil rose for a sixth straight session on Thursday to
its highest since June 19 on a decline in U.S. output, but
ongoing worries about global oversupply continued to
drag.

SOUTH AFRICA MARKETS
South Africa’s rand and mining stocks strengthened on
Wednesday as the dollar plunged on U.S. stimulus
uncertainty, although AngloGold Ashanti fell more
than 4 percent after saying it may retrench 8,500
workers.

NIGERIA MARKETS
Nigeria’s central bank will sell $100 million at a special
foreign exchange auction on Wednesday, the bank said as the
local currency held steady in all segments of the foreign
exchange market.

NIGERIA OIL
Nigeria’s Excess Crude Account tied for the world’s most
poorly governed sovereign wealth fund, according to a report
by the Natural Resource Governance Institute (NRGI) released
on Wednesday.

NIGERIA OIL/SECURITY
A militant group in Nigeria’s oil-rich southern Niger Delta
on Wednesday withdrew its threat to launch attacks on oil
facilities from June 30.

NIGERIA CRIME
An investigator at Nigeria’s financial crimes agency was
shot after leaving his office, underlining the dangers faced
by those looking into corruption, the Economic and Financial
Crimes Commission (EFCC) said on Wednesday.

KENYA MARKETS
The Kenyan shilling weakened against the shilling on
Wednesday due to increased demand from oil importers, and
traders said it could ease further amid dwindling inflows
from charities and agricultural exporters.

KENYA BANKING
A court on Wednesday charged the ex-chairman of a Kenyan
bank with conspiring to defraud depositors of 1.7 billion
Kenyan shillings ($16 million), in a case that undermined
confidence in the country’s banking sector.

GHANA CHINA/MOU
Ghana has signed a $10 billion memorandum of understanding
(MOU) with China to develop its bauxite industry, the
country’s Senior Minister Yaw Osafo-Maafo said on
Wednesday.

GHANA IMF
Ghana’s government has asked the International Monetary Fund
to push back the end date of its $918 million aid programme
from April 2018 to December 2018, IMF and government sources
told Reuters on Wednesday.

GHANA ECONOMY
Ghana’s gross domestic product (GDP) growth stood at 6.6
percent in the first quarter of 2017, the statistics office
said on Wednesday.

SOUTH SUDAN USA
South Sudan has deported three U.S. citizens, two of whom
served in the military and a third who deserted, U.S. and
South Sudanese officials said on Wednesday, another chapter
in an unusual tale of unofficial foreign interventions in
the country.

ZIMBABWE PROTEST
A Zimbabwean pastor at the heart of a protest movement
against President Robert Mugabe was freed on bail on
Wednesday, two days after he was arrested at a student rally
and charged with promoting violence.

MALAWI BANKING
Malawi’s First Merchant Bank will buy the local
assets of micro lender Opportunity International Bank of
Malawi (OIBM), subject to regulatory approvals, the two
banks said on Wednesday.

BOTSWANA EXPANSION
Botswana’s Debswana Diamond Mining, a joint venture between
De Beers and the southern Africa country’s government, plans
to extend the lifespan of its Jwaneng mine beyond 2024, a
mines minister said.

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