#Africa #Markets – Factors to watch on Sep 20

NAIROBI, Sept 20 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Wednesday.
– – – – –
EVENTS:
*SOUTH AFRICA – South African Reserve Bank starts [continues] its
three-day monetary policy committee meeting (to September
21).

———//

SOUTH AFRICA – Inflation data for August expected.

——–//

GLOBAL MARKETS
Asian stocks were mostly steady on Wednesday after Wall
Street again rose to record highs, although movements were
limited as a wait-and-see mood prevailed before the Federal
Reserve reveals its monetary policy stance later in the
day.

WORLD OIL PRICES
Oil prices rose on Wednesday after Iraq’s oil minister said
OPEC and other crude producers were considering extending or
even deepening a supply cut to curb a global glut, while a
report showed a smaller-than-expected increase in U.S.
inventories.

SOUTH AFRICA MARKETS
South Africa’s rand weakened to a five-week low against the
dollar on Tuesday before the central bank’s interest rate
decision this week and the U.S. Federal Reserve’s policy
meeting. Stocks were mixed.

SOUTH AFRICA ECONOMY
The World Bank on Tuesday halved its 2017 growth forecast
for South Africa after the economy fell into recession
earlier this year.

NIGERIA OIL
Nigeria’s oil minister and the head of Libya’s state oil
company are likely to attend a joint meeting between OPEC
and non-OPEC nations on Friday, two OPEC sources said, to
discuss the progress of their deal to limit
output.

NIGERIA POLITICS
Nigeria’s air force on Tuesday said it was deploying
aircraft to the southeast of the country where unrest
related to a campaign for secession has escalated in an area
formerly known as Biafra.

KENYA POLITICS
Kenyan police fired teargas on Tuesday at supporters of
President Uhuru Kenyatta who were protesting outside the
Supreme Court against the invalidation of his Aug. 8
re-election, Reuters witnesses said.

KENYA ECONOMY
Kenya’s central bank has bought foreign currency to slow the
strengthening of the shilling following elections in August,
the bank’s governor said on Tuesday.

GUINEA MININGS
Guinean bauxite miner CBG’s operations were halted again on
Tuesday by protesters who blocked roads and train tracks in
the town of Kamsar over power cuts, three sources
said.

TOGO POLITICS
A bill to limit presidents in Togo to two terms of office
will be decided by referendum after it failed on Tuesday to
win approval from parliament due to a boycott by opposition
lawmakers.

MOZAMBIQUE ENERGY
Mozambique offered a portfolio of small renewable energy
projects to foreign investors on Tuesday which it hopes will
attract $500 million in investment and give everyone in the
southern African country electricity by 2030.

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