The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Thursday.
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Asian shares touched a 10-year high on Thursday after the
U.S. Federal Reserve expressed optimism about the economy,
virtually cementing the case for a year-end rate hike as
investors awaited the formal nomination of the next head of
the central bank.
WORLD OIL PRICES
Oil prices held steady on Thursday as U.S. crude inventories
fell despite a rise in production, while outside the United
States an OPEC-led supply cut continued to tighten the
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SOUTH AFRICA MARKETS
South Africa’s rand currency was firmer on Wednesday,
boosted by positive economic data and a return of investors
attracted by the low exchange rate and high bond yields
ahead of an interest rate decision by the U.S. central
Nigeria raised 100.84 billion naira ($320.64 million) at a
treasury bill auction on Wednesday as traders locked in
yields in anticipation of higher liquidity from
A draft law to ease a dollar shortage by restricting
movement of hard currency in and out of Nigeria passed its
second parliamentary reading on Wednesday.
Kenya’s shilling held steady on Wednesday and traders
said they expected it to weaken slightly due to dollar
demand from the manufacturing sector.
The Ugandan shilling was slightly weaker on Wednesday
despite a central bank effort to remove excess local
currency liquidity via a one-day repurchase agreement
Ghana’s cocobod has initiated reforms to clear its debts of
up to 19.6 billion cedis ($4.45 bln) resulting from bloated
contracts and wasteful expenditure by previous managers, the
chief executive said on Wednesday.
IVORY COAST COCOA
Cocoa production in top grower Ivory Coast could fall by
nearly half in the first quarter of next year because of
disease that has wiped out a significant portion of pods,
Tanzania’s energy regulator raised the maximum price for
petrol, diesel and kerosene on Wednesday to reflect higher
crude prices and a weaker local currency, in a move likely
to lift inflation.
The International Monetary Fund (IMF) has cut its forecast
for Rwanda’s gross domestic product growth to 5.2 percent
this year from 6.2 percent but projected a pick-up in
The U.S. embassy in Eritrea said it has received reports of
gunfire in several parts of the capital, Asmara, after
protests erupted in one of Africa’s most secretive
Canada, under pressure from allies to boost its commitment
to peacekeeping, will propose offering helicopters for use
by U.N. forces in Mali and could later provide troops to
work as trainers, two sources familiar with the matter said
Niger has asked the United States to start using armed
drones against jihadist groups operating on the Mali border,
raising the stakes in a counterinsurgency campaign jolted by
a deadly ambush of allied U.S.-Nigerien forces.
MOZAMBIQUE YARA INTERNATIONAL
Norwegian fertiliser maker Yara International is
considering building a $2 billion plant in Mozambique and
may seek partners to share the cost, the chief executive
SOUTH SUDAN MEDIA
South Sudan’s media regulator has suspended all press
associations in the country while they register for licences
to operate, journalists said, a move that raised concern
about a possible crackdown on independent media.
Liberia’s Supreme Court has halted preparations for next
week’s presidential run-off vote between former soccer star
George Weah and Vice President Joseph Boakai until it
considers a challenge to first round results by a losing
candidate who alleged fraud.
Protesters have shut down 40,000 barrels per day from
oilfields in the concession areas of German firm Wintershall
in Libya, an engineer at the field and a statement
from protesters said on Wednesday.
A suspected Islamist militant wounded two policemen with a
knife near the parliament in Tunis on Wednesday and was
later arrested, Tunisia’s Interior Ministry
A protester was killed in the town of Bosaso in Somalia’s
semi-autonomous Puntland region on Wednesday after
demonstrations broke out in opposition to a concession deal
for the management of its port, residents said.
Pope Francis condemned on Wednesday recent deadly attacks in
Somalia, Afghanistan and New York, saying militants were
abusing the name of God to justify their