#Africa #Markets | 21 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Key events or data releases today

*NIGERIA – Central bank decides on interest rates today at 1330GMT. [Forecast is for the policy rate to remain unchanged at 14%] #Nigeria #MPC

* SOUTH AFRICA – SARB starts 3-day MPC meeting. [Forecast is for the repo rate to remain unchanged at 6.75%] #SouthAfrica #MPC

* ZIMBABWE – Impeachment proceedings against embattled Mugabe to start today. Meanwhile, former Zambian president Kenneth Kaunda is in Harare to convince him to resign instead. [Having held on this far, only plausible scenario to remove Mugabe now is impeachment; albeit that could take as long as 2 months] #Zimbabwe #MugabeMustGo

Key events or data releases yesterday

* NIGERIA – Q3 2017 GDP growth came out better than expected at 1.4% yy, from an upwardly revised 0.7% in Q2-2017. [Largely on the back of improved oil production, though] #Nigeria #GDP

* NIGERIA – Authorities successfully issued a $3B dual tranche eurobond yesterday, the country’s fourth; $1.5B 10-year at a yield of 6.5%, other $1.5B a 30-year at a yield of 7.625%. #Nigeria #Eurobond

* KENYA – Supreme Court upheld Uhuru Kenyatta’s presidential election rerun win yesterday. [Inauguration on 28 Nov] #Kenya #ElectionsKE #PPII

* ANGOLA – Police & intelligence chiefs replaced by President Joao Lourenco. [Quite clear now Mr Lourenco is his own man; a positive surprise] #Angola #Politics

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