NAIROBI, April 18 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Wednesday.
- - - - -
EVENTS:
*Gabon holds legislative elections that were due to take
place in December 2016 and then again on July 9, 2017 and
were postponed due to lack of funds.
*The World Bank launches its report for Sub-Saharan Africa.
*Nigeria holds its weekly cabinet meeting, usually chaired
by President Muhammadu Buhari, with Vice President Yemi
Osinbajo sometimes standing in.
GLOBAL MARKETS
Asian shares crept ahead on Wednesday after Wall Street took
heart from upbeat corporate earnings, though nagging
concerns about trade barriers and the global growth outlook
kept currencies and bonds subdued.
WORLD OIL PRICES
Oil prices edged up on Wednesday, lifted by a reported fall
in U.S. crude inventories and by the ongoing risk of supply
disruptions.
EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand gained on Tuesday to below the crucial
12 per U.S. dollar level as rand bulls were encouraged by
the announcement of an investment drive by President Cyril
Ramaphosa and an improving economic outlook.
SOUTH AFRICA ECONOMY
*The International Monetary Fund on Tuesday lifted South
Africa's economic growth forecast for the next two years
citing the election of a new political leadership, but
warned growth would underperform if no economic reforms were
carried out.
*South African President Cyril Ramaphosa appointed a team of
business and finance experts on Monday to scour the globe
for $100 billion in investment to boost the ailing
economy.
NIGERIA OIL
Nigerian oil company Oando climbed to a
nine-month high on Tuesday, its fourth straight rise after
regulators lifted a trading suspension on its
shares.
NIGERIA SECURITY
Nigerian police fired teargas at hundreds of Shi'ite Muslim
protesters on Tuesday during a second day of clashes in the
capital Abuja over the imprisonment of their religious
leader, Reuters witnesses said.
KENYA MARKETS
The Kenyan shilling strengthened to its highest level
against the dollar since May 2016 on Tuesday, traders
said.
KENYA RATES
Kenya could modify or scrap a law that caps commercial
lending rates, President Uhuru Kenyatta said on Tuesday,
recognising that access to credit for small and medium
enterprises had dried up as a consequence.
GHANA INFLATION
Ghana aims to bring inflation down to single digits in 2018
at around 8.9 percent, President Nana Akufo-Addo said on
Tuesday.
DEMOCRATIC REPUBLIC OF CONGO AID
Democratic Republic of Congo plans to set up a special fund
to manage all aid donations under a new draft law, its
cabinet said on Tuesday, a week after it failed to show up
at an international donors conference.
ALGERIA IMPORTS
Algeria's government has temporarily reversed a ban on
imports of some raw materials for its food industry after
shortages hit local firms, the trade ministry said on
Tuesday.
ALGERIA ENERGY
Eni ENI.MI plans "billions" of investments in Algeria over
the next three years, the company's CEO said on Tuesday, as
the Italian energy firm said it had agreed to extend its
partnership with Algerian state firm Sonatrach.
UGANDA DEBT
Uganda said on Tuesday it intends to borrow a total of $412
million from the World Bank and China's Exim Bank to fund
projects in education, health and energy
sectors.
TANZANIA INTERNET
Tanzania briefly detained two musicians, including one of
the country's most popular singers, after they posted video
clips deemed obscene by the authorities, in the latest
crackdown on social media users.
MOZAMBIQUE DEBT
Mozambique will assume responsibility for debt incurred by
previous administrations, but there needs to be a shared
responsibility by those providing the loans, President
Filipe Nyusi said on Tuesday.
MALAWI INFLATION
Malawi's consumer price inflation quickened to 9.9 percent
year on year in March from 7.8 percent in February, official
data showed on Tuesday.
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