#Africa #Markets – Factors to watch on Sept. 11

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market
moves and political events may affect African markets
on Monday.

GLOBAL MARKETS
The U.S. dollar won a reprieve from risk aversion on Monday
after North Korean dictator Kim Jong Un decided to hold a
party over the weekend rather than launch another missile,
tempering safe havens such as the yen and
Treasuries.

WORLD OIL PRICES
Oil prices edged up on Monday after the Saudi oil minister
discussed the possible extension of a pact to cut global oil
supplies beyond March 2018 with his Venezuelan and Kazakh
counterparts.

SOUTH AFRICA MARKETS
South Africa’s rand firmed slightly against the dollar on
Friday with the greenback on the backfoot and the local
currency holding on to gains after the economy’s exit from a
recession this week.

NIGERIA VIOLENCE
Nigeria’s President Muhammadu Buhari appealed for calm and
an end to communal violence on Saturday after police said
armed herdsmen killed 19 people in the central state of
Plateau.

KENYA MARKETS
The Kenyan shilling rose to its highest level against
the dollar in more than five months on Friday after hard
currency inflows caused banks to reduce their dollar
holdings, traders said.

KENYA BONDS
Kenya will sell two-year and 10-year Treasury bonds
worth a total 30 billion shillings ($292 million) this month,
the central bank said on Sunday.

TANZANIA MINING
Tanzania said on Saturday it planned to nationalise diamonds
whose value it put at $29.5 million belonging to a mine
majority owned by London-listed Petra Diamonds after
it accused the miner of under-declaring its mineral
exports.

UGANDA MARKETS
The Uganda shilling was steady on Friday and was
expected to gain ground, helped by central bank mopping up
excess liquidity from the money market.

ZAMBIA ECONOMY
Zambia’s economy will grow by 5.0 percent in 2018, 5.1
percent in 2019 and 6.1 percent in 2020, up from 4.3 percent
in 2017, the ministry of finance said in a statement on
Sunday.

CONGO CHOLERA
More than 500 people have died so far in a cholera epidemic
that is sweeping the Democratic Republic of Congo, the World
Health Organization (WHO) said.

SOMALIA ATTACKS
At least 6 people died on Sunday after a suicide bomber blew
himself up in a restaurant just outside a senior official’s
office in the central Somali city of Beledweyne, police and
residents said.

RWANDA INFLATION
Rwanda’s inflation fell to 3.2 percent
year-on-year in August from 3.5 percent month earlier, the
National Bureau of Statistics said on Sunday.

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