#Africa #Markets – Factors to watch on Aug 8

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market
moves and political events may affect African markets
on Tuesday.
– – – – –
EVENTS:
*Kenya holds general elections

*Tanzania releases consumer inflation data for July

GLOBAL MARKETS
Asian shares went flat on Tuesday as disappointing Chinese
trade data clouded the otherwise upbeat outlook on global
growth, leaving currencies and commodities becalmed in
summer doldrums.

WORLD OIL PRICES
Oil prices slipped further in Asian trading on Tuesday
following a recovery in output at Libya’s largest oil field
and as doubts about OPEC-led production cuts continue to
weigh on the market.

SOUTH AFRICA MARKETS
South Africa’s assets gained on Monday with the rand surging
as much as 1.7 percent in part because a parliamentary
speaker allowed a secret ballot in Tuesday’s vote of
no-confidence against President Jacob Zuma.

NIGERIA CORRUPTION
Nigeria has been told by a court it can permanently seize a
$37.5 million apartment block owned by a former oil minister
who is wanted for money laundering.

KENYA MARKETS
The Kenyan shilling weakened against the dollar on
Monday due to last minute demand from retail and oil
importers buying dollars ahead of elections, traders
said.

KENYA ELECTION
Millions of people go to the polls in Kenya on Tuesday amid
fears that the latest electoral clash between its foremost
political dynasties could once again descend into
violence.

KENYA AIRWAYS
Kenya Airways has secured the backing of its
minority shareholders to issue more shares and convert some
debt into equity, it said on Monday, despite the opposition
of some local lenders.

TANZANIA POLITICS
Tanzanian President John Magufuli on Monday rejected calls
from some of his supporters to extend his rule beyond the
constitutional limit of two, five-year terms, bucking a
trend in the region.

UGANDA MARKETS
The Ugandan shilling was stable on Monday, partly
helped by a central bank mop-up of excess local currency
liquidity worth 119 billion shillings ($32.97 million) from
the interbank.

UGANDA OIL
Uganda said on Monday it had agreed preliminary terms with a
consortium of investors including General Electric to
build and operate the country’s first oil refinery, reviving
a much-delayed project.

GHANA DEFICIT
Ghana is considering passing a law that will restrict
government’s fiscal deficit to not more than 5 percent of
GDP, the country’s Senior Minister Yaw Osafo-Maafo said on
Monday.

SOUTH SUDAN VIOLENCE
The United Nations said on Monday it was investigating
reports that 25 people had been killed in South Sudan’s
central Gok state in clashes between two tribal
factions.

SOUTH SUDAN UNREST
South Sudan’s army has captured the main rebel stronghold of
Pagak near the Ethiopian border, forcing thousands of people
to flee, the rebels said on Monday.

CONGO VIOLENCE
Congolese security forces killed at least 14 members of
separatist sect Bundu dia Kongo (BDK) on Monday during
clashes in the capital Kinshasa and southwestern city of
Matadi.

SEYCHELLES INFLATION
Seychelles inflation slowed to 3.16 percent
year-on-year in July from 3.69 percent a month earlier, the
statistics office said on Monday.

——–//

South Africa – Gross gold & FX reserves in July at $46.8b (prev $47.4b)

——-//

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