The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.
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Asian stocks stepped back from a record high on Wednesday as
the region's resource shares were hit by falling oil and
commodity prices while digital currencies tumbled on worries
about tighter regulations.
WORLD OIL PRICES
Oil prices gave away earlier gains on Wednesday as analysts
warned of a downward correction after prices have gained
more than 13 percent over the past month.
SOUTH AFRICA MARKETS
South Africa's rand rose to its strongest since July 2015 on
Tuesday as it crossed crucial technical points and ignited
offshore buying interest.
Nigeria expects to raise $700 million from international
sources as part of a $3.5 billion in borrowing earmarked in
the 2017 spending plan, the Debt Management Office (DMO)
said on Tuesday.
Nigerian stocks rose 1.5 percent to a nine-year high in
early trading on Tuesday, propelled by gains in the
relatively liquid banking sector.
Nigeria expects the rate of inflation to fall faster this
year compared with 2017, banking on the economy and currency
to stabilise, but activities leading up to presidential
elections next year could stoke prices.
The Kenyan shilling was steady against the dollar on
Tuesday amid an uptick in appetite for hard currency from
manufacturers and other importers.
Kenya has secured a $750 million syndicated loan for seven
years from the Trade Development Bank (TDB) to pay off
creditors in another two-year syndicated loan that was
extended last year, two banking sources told Reuters on
Kenya will sell a 15-year infrastructure bond this month to
raise 40 billion shillings ($388.35 million), the central
bank said on Tuesday.
The Ugandan shilling edged up on Tuesday as importers
who are preparing to pay their taxes in the local curbed
demand for dollars.
Unrest in Cameroon's English-speaking regions, the central
African nation's cocoa-growing heartland, is fuelling bean
smuggling into neighbouring Nigeria, farmers and buyers said
IVORY COAST BONDS
Ivory Coast aims to raise 1,310.7 billion CFA francs ($2.35
billion) in bonds on the regional CFA franc market in 2018,
treasury director Jules Coulibaly told Reuters on
Angola's central bank said it had sold 82.6 million euros
($101 million) at an average rate of 248.77 kwanza per euro
on Tuesday, a fall in the local currency's exchange
rate of around 12 percent compared with a similar auction
Ethiopian Airlines said on Tuesday it had signed an
agreement with the Zambian government to relaunch the
southern African country's national carrier, which was shut
down more than two decades ago.
Somali al Shabaab Islamist militants, who have carried out
frequent bombings in the capital, Mogadishu, said a former
leader who defected to the government side was an apostate
who could be killed.
Mauritius closed its port and airport on Wednesday after
raising its warning as a potentially dangerous tropical
cyclone approached the Indian Ocean island nation.