#Africa #Markets – Factors to watch on Aug 25

NAIROBI, Aug 25 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Friday.
– – – – –
GLOBAL MARKETS
Asian stocks advanced on Friday, once again shrugging off a
sluggish day on Wall Street, and the dollar strengthened as
attention shifted to the central bankers’ symposium in
Jackson Hole, Wyoming, that began on
Thursday.

WORLD OIL PRICES
Oil prices rose on Friday as the U.S. petroleum industry
prepared for potential output disruptions as Hurricane
Harvey headed for the heart of the nation’s oil industry in
the Gulf of Mexico.

SOUTH AFRICA MARKETS
The South African rand weakened on Thursday, weighed down by
expectations of lower domestic interest rates and cautious
trade ahead of U.S. Federal Reserve chair Janet Yellen’s
speech at a central bankers’ meeting.

SOUTH AFRICA/ZIMBABWE POLITICS
A South African model who has said she was whipped with an
electric cord by Zimbabwe’s first lady Grace Mugabe has
filed court papers challenging the government’s decision to
grant her diplomatic immunity, advocacy group Afriforum
said.

NIGERIA OIL
Nigeria launched a fund on Thursday with an initial value of
$200 million to support local oil and gas firms, the oil
minister said, part of a government drive to improve access
to low-cost credit across the economy.

KENYA POLITICS
Kenya’s President Uhuru Kenyatta rebuked newly elected
members of parliament on Thursday for resisting modest cuts
to their salaries and perks, worth more than $10,000 a
month, and said citizens were angry with extravagance in the
government.

KENYA MARKETS
The Kenyan shilling was stable against the dollar on
Thursday and traders said the currency was searching for
direction after strengthening following the re-election of
President Uhuru Kenyatta on Aug. 8.

ANGOLA POLITICS
Angola’s ruling MPLA party held a commanding lead in
provisional general election results, with 64.57 percent of
the votes tallied compared with the opposition UNITA party’s
24.4 percent, the electoral commission said on
Thursday.

TANZANIA POLITICS
A Tanzanian court on Thursday began hearing a case against
two co-founders of a whistleblower website who are charged
with obstructing justice by refusing to reveal the
identities of users who post details of suspected corrupt
officials.

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