#Africa #Markets – Factors to watch on Sept 29

NAIROBI, Sept 29 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.
– – – – –
EVENTS:
*ZAMBIA – Finance Minister Felix Mutati the 2018 national
budget.
Kenya and Uganda due to release consumer inflation data for
September. Kenya also due to release second quarter 2017
gross domestic product data.
*MAURITIUS – The statistics office expected to release an
update of its 2017 economic growth forecasts.
*MAURITIUS – The central bank to auction 91-day Treasury
bills worth a total 600 million rupees.

——–//

SOUTH AFRICA – M3 & PSCE data for Aug-17 expected.

——–//

GLOBAL MARKETS
Asian shares regained some poise on Friday after a tough
week in which the gathering risk of a U.S. rate rise lifted
Treasury yields toward nine-year highs and boosted borrowing
costs across the region.

WORLD OIL PRICES
Oil prices rose on Friday, with both Brent and U.S. crude
set to chalk up another weekly gain as investors bet that
efforts to cut a global glut are working and that the demand
outlook is improving.

SOUTH AFRICA MARKETS
South Africa’s rand recovered from five-month lows against
the dollar in late trade on Thursday as the greenback paused
its recent rally triggered by hawkish rhetoric by the U.S.
Federal Reserve.

AFRICA CURRENCIES
Zambia’s kwacha is expected to remain under pressure
next week on increased dollar demand while the Ugandan
shilling should firm on the back of inflows and reduced
local currency liquidity.

NIGERIA EUROBOND
Nigeria hopes to issue a $2.5 billion Eurobond by
mid-November, the head of the country’s debt agency said on
Thursday, the latest in a series of debt sales as it seeks
to fund a record budget for 2017.

NIGERIA POLITICS
Nigeria’s next presidential and parliamentary elections will
be held on Feb. 16, 2019, the Independent National Electoral
Commission said on its official Twitter account on
Thursday.

NIGERIA BANKING
Nigeria’s Fidelity Bank Plc has offered to buy
back $300 million of debt and intends to issue new notes,
aiming to extend the maturity of its debt profile, it said
on Thursday.

KENYA MARKETS
The Kenyan shilling was stable on Thursday and
traders said they were assessing the level of hard currency
demand from importers to figure out its potential
direction.

KENYA POLITICS
Kenya’s ruling Jubilee Party on Thursday presented
parliament with proposals intended to prevent the Supreme
Court annulling the results of a coming re-run presidential
election, as it did the last vote in August.

CAMEROON POLITICS
The government of one of Cameroon’s Anglophone regions
ordered its border with Nigeria closed this weekend in
response to calls by activists for protests to demand more
rights for the country’s English-speaking
minority.

BURUNDI POLITICS
The United Nations Human Rights Council agreed on Thursday
to an African resolution to send a team of three experts to
work with Burundi government in pursuing perpetrators of
“deplorable crimes”.

——-//

SOUTH AFRICA – Producer inflation in Aug-17 at 4.2% yy (prev 3.6%)

ZAMBIA – Inflation in Sep-17 at 6.6% yy (prev 6.3%)

——–//

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