#Africa #Markets – Factors to watch on July 11

NAIROBI, July 11 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Tuesday.

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SOUTH AFRICA – Manufacturing production data for May due.

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GLOBAL MARKETS
Asian shares and the dollar cautiously edged higher on
Tuesday, as investors awaited testimony from Federal Reserve
Chair Janet Yellen for clues on when the central bank would
tighten U.S. monetary policy.

WORLD OIL PRICES
Oil prices edged up on Tuesday, lifted in part by a strong
demand outlook for the coming weeks, but overall market
conditions remain weak on the back of ample supplies and a
more subdued outlook for long-term demand.

SOUTH AFRICA MARKETS
South Africa’s rand reversed earlier gains and slipped
against the dollar on Monday as the U.S. currency hit a
two-month high against the yen, boosted by robust economic
data.

SOUTH AFRICA CENTRAL BANK
South Africa’s Public Protector will not oppose a court
challenge against her binding proposal calling for a change
to the mandate of the central bank, her office said on
Monday.

NIGERIA PETROLEUM
The Nigerian government’s efforts to secure peace in the oil
heartlands of the Niger Delta are empty promises, community
leaders say, threatening a return to violence that would
derail any broader recovery in the crude-dependent economy.

NIGERIA PETROLEUM
Libyan and Nigerian officials may attend a joint meeting
between OPEC and non-OPEC nations later this month as oil
producers look for ways to cap rising production to help
support oil prices.

KENYA POLITICS
Kenya said on Monday that it was cutting the salaries of top
officials, including the president and lawmakers, and
slashing their allowances, saving the East African economy
8.5 billion shillings ($81.90 million) annually.

TANZANIA MINING
Tanzanian President John Magufuli said on Monday he has
signed into law new mining bills which require the government
to own at least a 16 percent stake in mining projects.

IVORY COAST COCOA
Lighter rainfall in most of Ivory Coast’s main cocoa-growing
regions last week improved prospects for the main cocoa crop,
although more sun is needed to boost flowering, farmers said.

GHANA COCOA
Ghana’s cocoa regulator Cocobod has already received around
$1.6 billion worth of bids in an oversubscribed loan
syndication aimed at financing purchases of the 2017/18 crop,
government and Cocobod sources told Reuters on Monday.

MALI SECURITY
About 10 Malian soldiers were missing following an ambush by
suspected Islamist militants in the West African nation’s
desert north, the army said on Monday.

BURUNDI SECURITY
A grenade attack killed eight people and wounded 50 others in
a village in Burundi’s northern Kayanza province late on
Sunday, police said.

NAMIBIA ECONOMY
Namibia’s central bank lowered its 2017 growth forecast to
2.1 percent from its previous view of 2.9 percent, citing
uncertainty around the pace of recovery in the price of
uranium, it said on Monday.

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Tanzania – Inflation in June at 5.4% yy (prev 6.1%).

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