African markets factors to watch Sept. 27

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The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Wednesday.
– – – – –
EVENTS:
*RWANDA – The central bank makes its latest decision on its
benchmark repo rate.
*GHANA – The statistics office to release data on second
quarter 2017 gross domestic product, and producer inflation
for August.

GLOBAL MARKETS
Asian shares rose on Wednesday as investors hoped for
progress on major tax reform in the United States, while the
dollar hovered near one-month highs on growing expectations
of a U.S. interest rate increase in
December.

WORLD OIL PRICES
Brent oil prices rose on Wednesday to sit not far off
26-month highs hit in the previous session amid threats from
Turkey that it could cut crude exports from Iraq’s Kurdistan
region.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa’s rand weakened in late trade on Tuesday, as
investors fretted over global risk events such as the
fallout from Germany’s election and tension between North
Korea and the United States. Stocks were also
weaker.

NIGERIA CENTRAL BANK RATE
Nigeria’s central bank held its benchmark interest rate at
14 percent on Tuesday, its governor said following a
Monetary Policy Committee meeting.

NIGERIA DEBT
Nigeria’s government has asked parliament to amend its
spending law to enable a debt program to settle 2.7 trillion
naira ($8.6 bln) worth of obligations including pensions and
salary arrears, according to a letter from Vice President
Yemi Osinbajo.

KENYA MARKETS
The Kenyan shilling weakened against the dollar on
Tuesday due to an up pick in demand from manufacturers
buying dollars to meet end month obligations, traders
said.

KENYA POLITICS
Kenyan police used tear gas and batons on Tuesday to
disperse protesters who say election officials should be
sacked before the re-run of a presidential vote because they
favour President Uhuru Kenyatta.

UGANDA POLITICS
Fistfights and chair-throwing broke out in Uganda’s
parliament on Tuesday ahead of a debate on whether to grant
long-serving President Yoweri Museveni another term in
office.

CONGO DEBT
Construction firm Commisimpex has gone to a French court in
its fight with the Congo Republic over what it says are more
than $1 billion in unpaid bills, the latest step in a
decades-old saga that has weighed on the nation’s
economy.

ZIMBABWE LOAN
Egypt-based Afreximbank is lead arranger for a $1.8 billion
loan to help Zimbabwe clear arrears at the World Bank and
African Development Bank, the state-owned Herald newspaper
said on Tuesday, citing the country’s finance
minister.

Reuters