#Africa #Markets – Factors to watch on Aug 18

NAIROBI, Aug 18 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

——————
EVENTS:

*RWANDA – President Paul Kagame to be sworn in for third term in office after winning elections earlier this month.

*MAURITIUS – The central bank auctions 364-day Treasury
bills worth a total 600 million rupees.

GLOBAL MARKETS
Asian stock investors joined a global retreat from riskier assets on Friday and the dollar wavered on growing doubts about U.S. President Donald Trump’s ability to deliver his economic agenda.

WORLD OIL PRICES
Oil prices dipped on Friday as part of a broad-based selloff across markets, and despite signs that crude markets are gradually tightening.

SOUTH AFRICA MARKETS
South Africa’s rand gave up gains on Thursday as traders booked profits after the currency rallied overnight on diminishing bets of a U.S. interest rate increase and higher gold prices.

NIGERIA MARKETS
Transactions on Nigeria’s stock market rose 7.13 percent to 220.27 billion naira ($699.3 million) in June from a month earlier, lifted by increased flows from foreign investors, stock exchange data showed on Thursday.

NIGERIA CORRUPTION
Almost a third of adult Nigerians pay civil servants and other public officials bribes totalling 400 billion naira ($1.27 billion) annually, the country’s statistics office said in a survey on graft.

KENYA MARKETS
The Kenyan shilling firmed to 103.25/45 against the dollar on Thursday, its highest level since June 21, after the opposition said the previous day that it would challenge the outcome of last week’s presidential vote in court, traders said.

KENYA TELECOMS
Kenya’s leading telecoms operator, Safaricom suffered an estimated $3-4 million in lost revenue from its M-Pesa money transfer business in the past two weeks due a slowdown caused by a tense presidential vote, its chief executive said on Thursday.

CONGO POLITICS
Congo Republic’s Prime Minister Clement Mouamba and his cabinet have resigned amid a growing economic crisis, the president’s office said in a statement on
Thursday.

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