NAIROBI, July 5 (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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*RWANDA – Statistics office to release first quarter 2017
gross domestic product growth data.
Asian share markets were subdued for a second session on
Wednesday as simmering tensions on the Korean peninsula
supported safe-harbours including the yen, bonds and
WORLD OIL PRICES
Oil markets were firm on Wednesday on worries over
geopolitical tensions in the Korean peninsula and the Middle
East, although prices were capped as supply remains ample
despite an OPEC-led drive to rein in production.
SOUTH AFRICA MARKETS
South Africa’s rand firmed slightly on Tuesday as the July 4
holiday in the United States restricted market activity,
while stocks weakened as investors took profits in bourse
Nigerian banking shares dropped 2.3 percent on Tuesday after
regulators said they had intervened to save the country’s
fourth largest telecoms firm from collapse as talks with
local lenders to renegotiate a $1.2 billion loan
Nigeria’s central bank and its telecoms industry regulator
have intervened to save the country’s fourth largest
telecoms firm from collapse after talks with local banks to
renegotiate a $1.2 billion loan failed, a regulatory source
said on Tuesday.
NIGERIA BREWER SHARE SALE
Guinness Nigeria on Tuesday launched a share sale to raise
39.7 billion naira ($126 million) from existing shareholders
to help lower its financing costs after reporting its first
annual loss in 30 years last year.
The Kenyan shilling was broadly stable against the
dollar on Tuesday with hard currency from diaspora
remittances meeting end-of-month demand from manufacturers
and oil importers, traders said.
TANZANIA MINERAL LAWS
Tanzania put more pressure on foreign mining companies on
Tuesday by amending mining and tax laws to make it mandatory
for the state to own at least 16 percent of mining projects,
while also raising export royalties. Also, Acacia Mining said on
Tuesday it was seeking an adjudicator to resolve its dispute with the
Tanzanian government over mining contracts as President John
Magufuli ordered the suspension of any new licences.
The economy of Congo Republic is likely to shrink for a
second consecutive year, the oil-producing nation’s
government said on Tuesday, forecasting a 1.9 percent
contraction in 2017, a downgrade from its earlier projection
of 1 percent growth.
Gambia has ended talks with African Petroleum to
extend oil exploration in two of the West African country’s
most promising offshore blocks and is now in preliminary
discussions with new investors, a senior oil official told
NAMIBIA FOREX RESERVES
Namibia’s foreign currency reserves fell slightly to 25.4
billion Namibian dollars ($1.93 billion) at the end of May
2017 compared with N$25.7 billion in April, data from the
Bank of Namibia showed on Tuesday.
Switzerland’s financial watchdog FINMA remains in touch with
Credit Suisse CSGN.S over its role in arranging loans for
Mozambique state-owned companies, a spokesman for the
regulator said on Tuesday, after an independent report
concluded it was unclear how the money had been