African markets factors Oct. 30, 2017

Business Products & Services

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Monday.
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GLOBAL MARKETS
Asian shares climbed on Monday, as technology stocks were
bolstered by solid earnings from U.S. tech stalwarts and on
strong pre-orders for Apple’s iPhone X, while oil hovered
around a 2-year peak on supply fears.

WORLD OIL PRICES
Oil markets were stable on Monday, with Brent remaining
above $60 per barrel supported by expectations that an
OPEC-led production cut due to expire next March would be
extended.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa’s rand recovered on Friday after two days of
heavy losses sparked by a bleak budget, benefiting from an
uptick in other emerging market currencies and helped by
local exporters selling dollars.

NIGERIA CURRENCY
Nigeria’s central bank said it had injected $285.7 million
into the interbank foreign exchange market on Friday to meet
requests in four industries for dollars, extending efforts
to boost liquidity and alleviate shortages.

NIGERIA OIL
Nigeria has recovered $85 million in funds from an oil
licence deal that had been deposited in Britain, the West
African country’s attorney general said.

NIGERIA CENTRAL BANK
Nigeria’s Central Bank Governor Godwin Emefiele said on
Friday he expected inflation rates to fall at a faster pace
and hit high single-digit rates mid-next year.

KENYA MARKETS
Kenyan shares headed higher on Friday after the presidential
election rerun left some investors satisfied that the
country’s political institutions were continuing to function
for now.

KENYA ELECTION/KILLING
The body of a man was found in a sugarcane field in western
Kenya on Sunday, a day after high-level officials visited
the area aiming to calm ethnic tensions inflamed by this
week’s presidential election.

UGANDA MARKETS
The Ugandan shilling was stable on Friday, helped by
typical end-of-month inflows from charities looking to pay
salaries and sagging dollar demand by importers.

GHANA BOND
Ghana’s ESLA will pay a yield of 19.0 percent on an
oversubscribed 2.4 billion cedi ($548 mln) seven-year
tranche of a government-backed energy bond issued on Friday
to repay debts owed by power utilities, arrangers
said.

ZIMBABWE PRESIDENT
Zimbabwean President Robert Mugabe sacked Ray Goba as the
country’s top prosecutor on Friday six weeks after
appointing him, a government notice said.

ZIMBABWE INFLATION
Less than a decade after hyperinflation obliterated
Zimbabwe’s dollar along with its pensions and savings, the
southern African nation is suffering a return to precipitous
price rises.

ZIMBABWE POLITICS
Zimbabwe opposition leader Morgan Tsvangirai is back in a
South African hospital for a medical review, nearly two
weeks after he returned home from that country, his
spokesman said on Friday, denying reports that he was
critically ill.

BURKINA FASO-FRANCE/JUSTICE
Francois Compaore, the younger brother of former Burkina
Faso president Blaise Compaore, was taken into custody by
French authorities on Sunday in connection with the murder
of a journalist, his lawyer said.

LIBERIA ELECTION
Liberia’s ruling party, whose candidate finished runner-up
in the first round of this month’s presidential election,
said on Sunday it would back a legal challenge to the
result, accusing President Ellen Johnson Sirleaf of
interfering in the vote.

SOMALIA VIOLENCE
An Islamist attack on a hotel in Mogadishu ended on Sunday
after 29 people were killed during a siege lasting nearly 12
hours, police said, prompting the government to sack two top
security officials over their failure to stop repeated
attacks.

SENEGAL TELECOM
Senegalese money transfer firm Wari said on Friday it was
suing Millicom International Cellular after the
Luxembourg-based company cancelled a deal to sell its
Senegal subsidiary Tigo to Wari.

ANGOLA CENTRAL BANK
Angolan President João Lourenço appointed on Friday Jose
Massano as the new governor of the central bank, state news
agency Angop reported.

ANGOLA POLITICS
Angola’s new President João Lourenço is making swift moves
to wrest power from his predecessor Jose Eduardo dos Santos,
pushing out some of his key allies and vowing to combat
monopolies controlled by a family that has run Angola for
four decades.

EQUATORIAL GUINEA
Millions of euros of assets belonging to the son of
Equatorial Guinea’s president were ordered to be seized by a
French court that found him guilty in absentia on Friday of
using money plundered from his country to buy property and
luxury cars.

BURUNDI POLITICS
Burundi’s cabinet backed a constitutional change that would
allow its president to stay in office until 2034, widening a
political rift that has driven the country progressively
deeper into crisis.