#Africa #Markets | 3 Nov

(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 shares took a breather on Friday as investors gave a
guarded reception to Republican plans for massive U.S. tax
cuts, while welcoming the appointment of a centrist at the
helm of the Federal Reserve.

WORLD OIL PRICES
Oil markets rose on Friday, supported by OPEC-led supply
cuts which are tightening the market as well as by strong
demand, but analysts cautioned that the cuts would need to
be extended to counter rising U.S. output.

SOUTH AFRICA MARKETS
South Africa’s rand extended its comeback on Thursday,
ignoring turbulence in parliament to trade below the
psychological 14.00 mark as a sharp slide in the greenback
encouraged some short buying before focus shifts to Friday’s
U.S jobs data.

NIGERIA CURRENCY
Nigeria’s government expects the naira currency to
strengthen and does not see a significant risk of
devaluation in the medium term, Finance Minister Kemi
Adeosun said on Thursday.

NIGERIA OIL
Nigeria must use its oil wealth to prepare for a future when
the world no longer runs on fossil fuels, the vice president
said on Thursday.

NIGERIA BUDGET
Nigeria’s President Muhammadu Buhari will present the 2018
budget to parliament on Nov 7, he said in a letter on
Thursday, seeking to avoid the delays that have plagued
previous budgets, not passed until well into the years they
targeted.

KENYA MARKETS
The Kenyan shilling was steady against dollar on
Thursday supported by tight market liquidity and inflows
from horticultural sector matching dollar demand from
multinational companies, traders said.

KENYA STRIKE
Nurses in Kenya have ended a five-month-old strike over
delays to agreed wage rises, a union official said on
Thursday, just as university lecturers began a similar
action over their pay and benefits.

KENYA SECURITY
Kenya’s chief justice said the national police chief had
“enhanced” the security of Supreme Court judges after one of
their bodyguards was shot, denying a Reuters report that a
request for extra security had been turned down.

KENYA STOCKS
Kenya’s main stock exchange index, already up 18.5 percent
this year, looks set to be recharged as it recovers from
months of political uncertainty, its chief executive officer
said on Thursday.

KENYA EQUITY GROUP
At least half a million small borrowers at Kenya’s biggest
lender by customers, Equity, have been locked out
of credit by an interest rate cap imposed a year ago, the
bank’s chief executive said on Thursday.

TANZANIA MINING
Acacia Mining’s top two executives have resigned in
the midst of talks between its parent company and the
Tanzanian government aimed at ending a long-running dispute
that has hit Acacia’s operations.

GHANA BOND
Ghana plans to issue a three-year domestic dollar bond next
week to develop local funding sources to support the
economy, deal arrangers told Reuters on
Thursday.

IVORY COAST ELECTRICITY
Ivory Coast started producing power on Thursday at a 275
megawatt (MW) hydroelectric plant that will boost the
country’s electricity output by more than 10
percent.

UGANDA MARKETS
The Ugandan shilling was broadly stable on Thursday,
underpinned by waning demand for dollars from importers and
commercial banks.

ANGOLA RATES
Angola’s central bank kept its benchmark lending rate
unchanged at 16 percent following a policy meeting on Nov. 1
as consumer price inflation slows, the regulator said in a
statement.

NAMIBIA RESERVES
Namibia’s foreign reserves rose in September to 31.4 billion
Namibian dollars ($2.25 billion) from N$30.6 billion at the
end of August, central bank data showed on
Thursday.

NAMIBIA ECONOMY
Namibia’s economy will grow at 1.6 percent this year and by
double that in 2018 as the mining sector emerges from years
of contraction and the impact of recent severe drought
eases, the finance minister said on Thursday.

CONGO ECONOMY
Democratic Republic of Congo’s central bank said on Thursday
that it expects year-end inflation to stand at 49.8 percent,
down from an earlier estimate of over 52
percent.

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