Here are the factors, deals and decisions that will shape African markets for August 29, 2017…
U.S. stock futures and Asian share markets tumbled on
Tuesday, while the yen jumped to four-month highs against
the dollar after North Korea fired a missile over northern
Japan, fuelling worries of fresh tension between Washington
WORLD OIL PRICES
Flooding from tropical storm Harvey caused ongoing
large-scale U.S. refinery outages on Tuesday, while crude
prices rose on the back of supply disruptions in Colombia
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SOUTH AFRICA MARKETS
South Africa’s rand weakened on Monday and was largely
range-bound in the absence of market-moving data expected
later in the week and subdued trade as UK banks were closed
for a holiday.
Nigerian President Muhammadu Buhari, back at the helm after
prolonged sick-leave, said he was delighted by the way
Africa’s biggest economy was improving after briefings from
ministers and the central bank, his office said on
Annual inflation in Nigeria slowed for a sixth month in
July, easing to 16.05 percent, but the rise in food
inflation was the biggest in eight years, the National
Bureau of Statistics (NBS) said on Monday.
The Pentagon notified the U.S. Congress on Monday of the
sale to Nigeria of 12 Super Tucano A-29 planes and weapons
worth $593 million, which the West African country wants for
its fight against the militant group Boko Haram.
The Kenyan shilling remained stable against the
dollar on Monday as the Supreme court began hearing an
election petition filed by the opposition challenging
incumbent president Uhuru Kenyatta’s win, traders
Kenya’s Supreme Court on Monday ordered the election
commission to allow the opposition, which is disputing the
results of this month’s presidential poll, to have access to
its computer servers and electronic devices used in the
counting of votes.
Kenyans producing, selling or even using plastic bags will
risk imprisonment of up to four years or fines of $40,000
from Monday, as the world’s toughest law aimed at reducing
plastic pollution came into effect.
The Ugandan shilling was stable against the dollar on
Monday as typical end-month hard currency inflows from
non-governmental organisations (NGOs) weighed against low
demand from importers.
RWANDA BANK OF KIGALI
Rwanda’s Bank of Kigali plans to raise $60
million-$100 million by next year to expand its business and
could list shares on an overseas bourse as part of the plan,
its chief executive officer said.
Washington’s top aid official, Mark Green, visiting Sudan’s
North Darfur state, stressed on Monday the importance of
unfettered humanitarian access as a key demand for easing
U.S. sanctions against the government of President Omar
SOUTH SUDAN UN
United Nations peacekeepers in South Sudan are moving more
aggressively to protect civilians caught in the country’s
four-year civil war, after years of criticism for failures
that led to the sacking of the mission’s military chief last
IVORY COAST COCOA
Abundant rain mixed with sunny spells last week in most of
Ivory Coast’s main cocoa-growing regions boosted prospects
for the upcoming main crop in the world’s top producer,
farmers said on Monday.
Zimbabwe’s trade deficit narrowed by 20 percent to $1.2
billion in the seven months to July, data from the national
statistics agency showed on Monday.