#Africa #Markets – Factors to watch on Sep 22

NAIROBI, Sept 22 (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 fell and the Japanese yen and Swiss franc
gained on the mooted possibility of North Korea conducting
another hydrogen bomb test, this time in the Pacific
Ocean.

WORLD OIL PRICES
Oil prices were mixed in early Asian trade on Friday as the
market waited to see whether major oil producers would
extend supply cuts beyond March at a meeting in Vienna later
in the day.

SOUTH AFRICA MARKETS
South Africa’s rand reversed mild losses against the dollar
on Thursday after the central bank kept its benchmark repo
rate at 6.75 percent, defying expectations of a 25-basis
point cut.

SOUTH AFRICA ECONOMY
South Africa’s central bank kept its benchmark repo rate at
6.75 percent on Thursday, defying expectations of a cut
based on easing inflation pressures and a sluggish recovery
from a recession in the first half of the year.

SOUTH AFRICA POLITICS
African National Congress (ANC) MP Makhosi Khoza, a strident
critic of scandal-plagued President Jacob Zuma, quit South
Africa’s ruling party on Thursday, labelling Nelson
Mandela’s 105-year-old liberation movement “alien and
corrupt”.

SOUTH AFRICA FINANCE
South Africa’s central bank is concerned about “regrettable”
practices at auditor KPMG KPMG.UL, its governor said, as the
company’s chairman held a meeting with a former finance
minister it had tarnished in a report it later said was
flawed.

NIGERIA ECONOMY
Nigeria’s central bank sold 207 billion naira in treasuries
on Thursday to mop up liquidity, a day after it raised more
money than planned via a debt auction as it moved to keep
borrowing costs high to support the currency, traders
said.

KENYA POLITICS
Kenya’s President Uhuru Kenyatta said on Thursday the
country’s Supreme Court staged a “coup” against the will of
the people when it annulled his win in last month’s
presidential election, his toughest rhetoric yet in the wake
of the Aug. 8 vote.

KENYA AVIATION
Kenya Airways KQNA.NR has started talks with the government,
seeking its help in coping with competition from foreign
carriers operating flights to its Nairobi hub, its chairman
said on Thursday.

GHANA ECONOMY
The Bank of Ghana will cut its prime lending rate on Monday
to ease pressure on the hard pressed economy following a
gruelling three-year International Monetary Fund credit
programme, a Reuters poll found.

CAMEROON POLITICS
An improvised bomb wounded three policemen in the main city
of Cameroon’s minority English-speaking region on Thursday,
the regional governor said, in an attack a senior security
source blamed on separatist militants.

UGANDA POLITICS
Ugandan authorities postponed a bill to extend leader Yoweri
Museveni’s rule after protesters took to the streets against
it on Thursday, confronting police who fired
teargas.

GUINEA POLITICS
Hundreds of rioters in the Guinean bauxite mining town of
Boke burned down a police and a gendarmerie building on
Thursday and clashed with security forces wielding batons,
leaving 17 people injured, the local Red Cross
said.

SOMALIA POLITICS
Somalia’s government rebuked its three semi-autonomous
regions on Thursday for cutting ties with Qatar, saying it
was determined to stay neutral in the Gulf nation’s dispute
with other Arab states.

SOUTH SUDAN POLITICS
Residents of South Sudan’s capital say they are collecting
cash to pay police unofficially to patrol their
neighbourhoods, amid a crime wave and a cash crunch that
means authorities often cannot pay their wages.

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