NAIROBI, Sept 25 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.
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*GHANA – The central bank to make its benchmark lending rate
*RWANDA – The statistics office to release second quarter 2017
gross domestic product figures.
The euro slipped on Monday after German Chancellor Angela
Merkel won a fourth term but faced a fractured parliament as
support for the far-right surged, while Asian shares pulled
back, weighed by concerns about China’s economy.
WORLD OIL PRICES
Oil prices stood little changed on Monday, keeping most of
their gains from the previous session to hold near their
highest levels in months, as major producers meeting in Vienna
said the market was well on its way towards
SOUTH AFRICA MARKETS
South Africa’s rand stretched gains on Friday as the central
bank’s surprise decision to keep lending rates on hold rippled
through the market and drew flows into the bond market, while
stocks were mixed.
Nigeria is pumping less than 1.8 million barrels per day (bpd)
of crude, its oil minister said on Friday, meaning the country
is sticking to an output cap agreed under an OPEC-led deal to
The Kenyan shilling was stable against the dollar on
Friday after the central bank injected cash into money markets,
helping to blunt the impact of tight liquidity on the exchange
rate, traders said.
Kenya’s chief prosecutor has directed the department of
criminal investigations and the anti-corruption commission to
investigate election board officials over possible offences in
the invalidated Aug. 8 presidential vote, he said in a
letter. Also, Kenya will not face a constitutional or political
crisis even if a planned re-run of its presidential election,
now set for Oct. 26, is delayed beyond the end of October, the
attorney general said on Friday.
The Bank of Ghana said the yield on its weekly 91-day bill
inched up to 13.24 percent at an auction on Friday, from 13.13
percent at the last such sale on Sept. 15.
GHANA, IVORY COAST BORDER DISPUTE
The International Tribunal for the Law of the Sea on Saturday
drew an ocean boundary favouring Ghana in a dispute with its
neighbour Ivory Coast, opening the way for development drilling
to resume on Ghana’s multi-billion dollar TEN deepwater oil and
Ghana’s National Communications Authority (NCA) regulator
granted conditional approval for a merger between the local
operations of Millicom’s Tigo and Bharti Airtel, a
notice to employees of the subsidiaries said.
New laws and a crackdown on mining firms in Tanzania has slowed
fresh investment in what has long been seen as one of Africa’s
brightest mining prospects as companies assess the consequences
of government efforts to claim a bigger slice of the
Mauritius’ trade deficit narrowed 3.1 percent in July to 7.96
billion rupees ($239 million) from the same month last year due
to lower imports of machinery and transport equipment, the
statistics office said on Friday.