#Africa #Markets – Factors to watch on Aug.31

NAIROBI, Aug 31 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.
– – – – –
EVENTS:
*Kenya, Uganda to release their consumer inflation data for
August.
*KENYA – The central bank to auction 91-day, 182-day and
364-day Treasury bills worth a total 24 billion shillings.

——-//

SOUTH AFRICA – Producer inflation data for July 2017
expected; trade data also due.
.

——-//

GLOBAL MARKETS
Investors rediscovered a taste for the dollar and Asian
shares on Thursday as upbeat Chinese and U.S. economic news
whetted appetite for riskier assets globally, even as
tensions over North Korea simmered in the
background.

WORLD OIL PRICES
Tropical Storm Harvey’s effect on the energy industry has
spread beyond flooded U.S. refiners as fuel pipelines are
also shut, threatening a supply squeeze around the country
and roiling world markets as traders scramble to find
alternative supplies.

SOUTH AFRICA MARKETS
South Africa’s rand fell very slightly on Wednesday after
data showed private sector credit demand growth slowed in
July.

NIGERIA PRESIDENT
Nigeria’s President Muhammadu Buhari on Wednesday chaired
his first cabinet meeting since returning from sick leave in
Britain this month.

NIGERIA ELECTRICITY
Nigeria has approved the construction of a $5.8 billion
hydroelectric power plant by a Chinese state firm, the power
minister said on Wednesday, the latest in a series of
Chinese deals since the project was first envisioned decades
ago.

KENYA MARKETS
The Kenyan shilling was unchanged against the dollar
on Wednesday as the market awaits a court ruling on the
outcome of a petition challenging the results of the
presidential election earlier this month.

UGANDA MARKETS
The Ugandan shilling was firm on Wednesday, supported
by typical end-month hard currency inflows from charities
and commodity exporters weighing against scant
demand.

GHANA ECONOMY
The International Monetary Fund (IMF) approved an extension
of an aid package for Ghana initially worth $918 million
that will see the programme continue for an extra year
beyond its original April 2018 end date, it said on
Wednesday.

SOUTH SUDAN UNREST
South Sudanese soldiers are passing through the territory of
neighbouring Uganda to launch assaults against rebels,
raising the risk of the civil war spilling over into
neighbouring East African countries, South Sudanese rebels
and witnesses said.

CAMEROON ECONOMY
Cameroon’s economic growth rate will slip to around 4
percent this year, down from a revised 2016 rate of 4.5
percent because of a slowdown in its oil and gas sector, the
International Monetary Fund (IMF) said on
Wednesday.

SIERRA LEONE MUDSLIDE
The bodies of 19 people thought to have perished in a
mudslide in Sierra Leone more than a fortnight ago have
washed up on Guinea’s shores, the government in Conakry said
on Wednesday.

SOMALIA SECURITY
A raid involving U.S. troops in Somalia has caused a rift
between the precarious U.S.-backed government and a powerful
clan that says innocent farmers were massacred, months after
President Donald Trump approved stepped-up operations
there.

ETHIOPIA AID
An abattoir located among herding communities in Ethiopia’s
eastern Somali region, known more for droughts and famine
than business opportunities, is an unusual stop for a U.S.
aid administrator.

ZAMBIA MINING
Zambian electricity utility Copperbelt Energy Corporation
(CEC) and Glencore’s Mopani Copper Mines have
reached an agreement to restore full power supply to the
mine from Wednesday, the president’s office said on
Wednesday.

RWANDA POLITICS
The brother of a leading critic of Rwandan President Paul
Kagame said on Wednesday she had been taken from her home by
police along with four family members, something police
denied.

IVORY COAST COCOA
Ivory Coast sold forward 1.32 million tonnes of its 2017/18
cocoa crop by Aug. 25 as it anticipates a drop in output,
two sources from the marketing board, the Coffee and Cocoa
Council (CCC), said on Wednesday.

——–//

SOUTH AFRICA – PSCE for July 2017 at 5.7% yy (prev 6.2%)

SOUTH AFRICA – M3 in July 2017 at 6.8% yy (prev 6.0%)

——–//

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