#Africa #Markets | 25 Oct

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market moves and
political events may affect African markets on Wednesday.

——–//

NAMIBIA – Interest rate decision expected.

KENYA – Supreme Court to rule on whether 26 October
presidential election rerun should go ahead.

SOUTH AFRICA – Mid-term budget statement by finance
minister Malusi Gigaba in parliament today.

——–//

GLOBAL MARKETS
Asian shares edged higher on Wednesday, while U.S. Treasury
yields and the dollar got a lift following a report that
Republican senators were leaning towards John Taylor to be
the next Federal Reserve chief.

WORLD OIL PRICES
Oil prices were largely steady in early Asian trade on
Wednesday, hovering near a four-week high hit a day earlier
after top exporter Saudi Arabia said it was determined to
end a supply glut.

SOUTH AFRICA MARKETS
South Africa’s stocks, rand and bonds were weaker on
Tuesday, as investors refrained from making any large moves
ahead of Finance Minister Malusi Gigaba’s budget speech on
Wednesday.

NIGERIA OIL
A refinery with capacity to process 650,000 barrels per day
(bpd) of oil being built in Nigeria is due to come onstream
by the end of 2019, the oil minister said on
Tuesday.

NIGERIA OIL/PRODUCTION
Nigeria is targeting oil production of 1.8 million barrels
per day by early next year but that will be the ceiling to
comply with OPEC targets its oil minister said in
Tuesday.

NIGERIA TREASURY
Nigerian overnight lending rates were quoted around 120
percent on Tuesday after a court ordered a freeze on
millions of bank accounts with incomplete identity documents
and the central bank sold treasury securities to tighten
liquidity, traders said.

NIGERIA TELECOM
Nigeria’s Senate voted in favour on Tuesday of launching an
investigation into the default on a $1.2 billion loan
earlier this year by Etisalat Nigeria and into how the funds
were used.

WEST AFRICAN NATIONS
A group of four West African presidents said on Tuesday they
planned steps to accelerate the creation of a shared
currency for the 15-country ECOWAS bloc by 2020, according
to a joint statement.

KENYA MARKETS
Kenya’s shilling weakened on Tuesday due to dollar
demand from oil importers and multinational companies ahead
of repeat presidential elections, while tight liquidity was
expected to offer support, traders said.

KENYA ELECTION
Kenyan police fired teargas and shots in the air to scatter
a small number of demonstrators in Nairobi two days before
elections, as the main opposition leader appeared to pull
back from a call for protests during the vote.

KENYA ELECTION/SHOOTING
A gunman shot and wounded a bodyguard to Kenya’s deputy
chief justice on Tuesday, police said, adding to an
increasingly tense atmosphere two days before the East
African nation is due to hold a repeat presidential
election.

KENYA PIPELINE
Kenya said on Tuesday it had signed an agreement with a
consortium of three firms for a feasibility study on a
proposed pipeline to transport crude oil from the country’s
oilfields to a seaport on the Indian Ocean
coast.

KENYA BONDS
Kenya’s central bank invited bids on Tuesday for five-year
Treasury bonds worth 16.5 billion shillings ($159.04
million)in a tap sale.

IVORY COAST COCOA
Ivorian farmers say they are selling cocoa beans below the
minimum farmgate price amid a lack of buying interest
throughout the supply chain blamed on reduced lending to
exporters.

TANZANIA MEDIA
Tanzania’s government on Tuesday suspended publication of an
opposition-leaning newspaper for three months, the fourth
newspaper to be shut down since June in what critics say is
a crackdown on press freedom.

MALAWI VIOLENCE
Police in Malawi have arrested 200 suspected members of
vigilante mobs that have been killing people they believe
are vampires, a spokesman said on Tuesday.

UGANDA MARKETS
The Ugandan shilling was unchanged on Tuesday but was
seen weakening on the back of healthy demand from importers
and commercial banks.

UGANDA POLITICS
Ugandan legislators have each pocketed 29 million Ugandan
shillings ($8,000) as a payout for consultations on
legislation to extend the president’s rule, a parliamentary
spokesman said on Tuesday, a move opponents denounced as a
bribe.

ZIMBABWE PRESIDENT/WHO
Robert Mugabe would have rejected the role of World Health
Organization goodwill envoy had he been formally asked, his
spokesman said on Tuesday, days after state media cheered
the Zimbabwean president’s appointment.

MOZAMBIQUE SECURITY
Mozambique has fired its head of intelligence and army chief
of staff, two weeks after 16 people were killed in attacks
in the north of the country, the presidency said on
Tuesday.

NAMIBIA NORTH KOREA
Namibia’s government on Tuesday rejected accusations by the
coordinator of the UN Panel of Experts on North Korea who
accused the southern African nation of not complying with UN
Security Council sanctions against Pyongyang.

BOTSWANA RATES
Botswana’s central bank cut its benchmark lending rate [by 50bps]
to a record low of 5 percent on Tuesday, citing positive
inflation outlook and efforts to stimulate economic
activity.

ETHIOPIA GRAINS
The Ethiopian government has issued an international tender
to buy 200,000 tonnes of milling wheat, European traders
said on Tuesday.

SOMALIA SECURITY
A wheelbarrow exploded outside a police station in Bossaso,
a port city in Somalia’s semi-autonomous region of Puntland,
on Tuesday, killing the lone man pushing it, a police
officer told Reuters.

SOUTH SUDAN USA
U.S. Ambassador to the United Nations Nikki Haley is due to
travel to war-torn South Sudan on Wednesday to meet with the
country’s President Salva Kiir – and she is
angry.

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