#Africa #Markets – Factors to watch on Aug 22

NAIROBI, Aug 22 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Tuesday.

GLOBAL MARKETS
Asian shares rose on Tuesday after modest gains on Wall
Street, while robust metals prices underpinned some regional
markets even as investors remained wary ahead of the annual
central banking conference in Jackson Hole later this
week.

WORLD OIL PRICES
Oil prices rose on Tuesday, lifted by indications that
supply is gradually tightening, especially in the United
States.

SOUTH AFRICA MARKETS
South Africa’s rand weakened on Monday, giving up gains from
last week, with traders cautious ahead of the U.S. Federal
Reserve’s annual central banking symposium and local
inflation data later in the week.

SOUTH AFRICA ECONOMY
South African President Jacob Zuma on Monday signed in to
law the Financial Sector Regulation Act, know as “Twin
Peaks”, which will establish a prudential regulator and a
separate, dedicated market conduct regulator.

SOUTH AFRICA POLITICS
The main company owned by South Africa’s Gupta brothers,
business friends of President Jacob Zuma, said on Monday it
would sell its media assets – investments caught up in an
influence-peddling scandal.

NIGERIA POLITICS
Nigeria’s President Muhammadu Buhari said on Monday he would
stop separatist activists spreading unrest, seeking to
reassert his hold on power after returning from his second
stint of medical leave this year.

GHANA/EQUATORIAL GUINEA GAS
Ghana’s President Nana Akufo-Addo plans to sign an agreement
to import liquefied natural gas (LNG) from Equatorial Guinea
during his three-day visit to the Gulf of Guinea petroleum
producer due to begin on Monday, his office
said.

MOZAMBIQUE ECONOMY
Mozambique’s government plans to set up a sovereign
investment fund where taxes paid on sales of the country’s
minerals will be used to finance development projects,
state-run AIM news agency said on Monday quoting the finance
minister.

SOUTH SUDAN POLITICS
South Sudan has grounded planes belonging to United Nations
peacekeepers in a dispute over control of the airport in the
capital Juba, the government said on Monday.

GAMBIA OIL
African Petroleum’s rights to explore in two
offshore Gambian oil blocks have expired and are currently
“open for licensing”, presidential spokeswoman Amie Bojang
said on Monday.

CONGO REPUBLIC POLITICS
Congo Republic President Denis Sassou Nguesso reappointed
Clement Mouamba as prime minister on Monday, four days after
Mouamba and his cabinet resigned, the president’s office
said in a statement.

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