#Africa #Markets – Factors to watch on Sep 21

NAIROBI, Sept 21 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Thursday.
– – – – –
EVENTS:
*SOUTH AFRICA – South African Reserve Bank ends three-day
monetary policy committee meeting.

GLOBAL MARKETS
The U.S. dollar shone while Asian shares slipped on Thursday
after the U.S. Federal Reserve announced a plan to start
shrinking its balance sheet and signalled one more rate hike
later this year.

WORLD OIL PRICES
Oil markets dipped on Thursday, weighed down by rising crude
inventories and production in the United States as well as a
stronger dollar, which potentially hampers fuel consumption
in countries that use other currencies at
home.

SOUTH AFRICA MARKETS
South Africa’s rand recovered on Wednesday from its weakest
in a month after consumer inflation figures for August
suggested interest rates will fall further, reviving
economic growth.

SOUTH AFRICA ECONOMY
South African inflation rose less than expected in August,
increasing the likelihood of interest rate cuts this week
and later in the year.

SOUTH AFRICA POLITICS
KPMG South Africa wants an independent investigation into
the firm’s conduct to reassure employees and clients after a
scandal involving its handling of audits for businessman
friends of President Jacob Zuma, its new chief executive
said on Wednesday.

NIGERIA ECONOMY
Offshore funds in Nigeria offered on Wednesday to sell the
dollar at close to its black market rate, traders said,
worsening a liquidity lull on the foreign exchange
market.

KENYA POLITICS
Kenya’s Supreme Court on Wednesday criticised the election
board for failing to verify official results of last month’s
presidential election before announcing them, but did not
find any individual at the board responsible for the
failings.

CONGO/ANGOLA POLITICS
Captured by militia and accused of being married to a
Congolese government official, Kimpanga Caro could smell the
fire she was told would be used to burn her decapitated head
to ash.

IVORY COAST ECONOMY
Top cocoa grower Ivory Coast will tighten requirements for
counterparties of export contracts and impose 10-year bans
on exporters and purchasers who violate their agreements,
according to two documents published by the marketing
board.

UGANDA POLITICS
Ugandan lawmakers accused the government on Wednesday of
trying to intimidate them by deploying heavy security in the
capital and around parliament, before a move to change the
constitution to extend the president’s rule.

TANZANIA ECONOMY
Tanzania’s president ordered the military on Wednesday to
build walls around its tanzanite mines and directed the
central bank to buy the precious stone to boost reserves –
the latest twist in a spat with mining firms over alleged
tax evasion.

TOGO POLITICS
Security forces in Togo used batons, tear gas and live
bullets against protesters seeking an end to President Faure
Gnassingbe’s rule on Wednesday and a child was killed in the
ensuing clashes, according to Amnesty
International.

ZIMBABWE ECONOMY
Zimbabwe’s Finance Minister on Wednesday said the southern
African nation would not be able pay $1.8 billion in arrears
to the World Bank and African Development Bank (AfDB) until
economic fundamentals improve.

RWANDA POLITICS
A Rwandan opposition official and eight others were charged
on Wednesday with forming an armed group and seeking to
overthrow the government – indictments that could see them
jailed for life.

SOUTH SUDAN POLITICS
South Sudan’s hellish war will get worse if its neighbours
let President Salva Kiir hold an election before he accepts
peacekeepers, a ceasefire and political opposition, U.N.
investigators said on Wednesday.

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