#Africa #Markets – Factors to watch on Sept 26

NAIROBI, Sept 26 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.
– – – – –
EVENTS:
*NIGERIA – The central bank announces its latest decision on
its benchmark lending rate.

GLOBAL MARKETS
Asian shares slumped on Tuesday while the dollar remained off
recent highs against the yen against the backdrop of rising
tensions on the Korean Peninsula.

WORLD OIL PRICES
Oil prices extended gains on Tuesday, with Brent crude
hitting a 26-month high, supported by Turkey’s threat to cut
crude flows from Iraq’s Kurdistan region to the outside
world.

NIGERIA PETROLEUM
The main subsidiary of Nigeria’s state oil company said on
Monday it planned to increase production from fields in which
it owns stakes to 300,000 barrels per day by 2018 from the
current level of 180,000 bpd.

KENYA MARKETS
The Kenyan shilling was steady against the dollar on
Monday due to tight liquidity in the money market but was
expected to ease due to end month demand from manufacturers
and oil importers, traders said.

RWANDA ECONOMY
Rwanda’s economic growth slowed to 4 percent year-on-year in
the second quarter of 2017, data showed on Monday, though the
finance minister said he was expecting an improvement in the
rest of the year.

GHANA CENTRAL BANK RATE
Ghana’s central bank ended a run of rate cuts by keeping its
benchmark unchanged at 21 percent on Monday, citing global
economic uncertainties and threats to consumer price
stability.

IVORY COAST COCOA
Cocoa arrivals at Ivory Coast ports had hit around 2 million
tonnes by September 24 since the start of the season on Oct.
1, the largest cocoa harvest ever seen in the world’s top
grower, exporters estimated on Monday.

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