African Markets – Factors to watch on March 23 | News by Country

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Friday.
    - - - - -
 EVENTS:
 *IMF&Rwanda discuss growth outlook for 2018
 
 
 GLOBAL MARKETS
 The rumblings of a global trade war sent shivers through
 stock and currency markets on Friday after U.S. President
 Donald Trump announced long-promised tariffs on Chinese
 goods and China retaliated with a pledge to fight to the end
 any such war.                       
 
 WORLD OIL PRICES
 Oil prices jumped more than 1 percent on Friday, pushed up
 by Saudi plans for OPEC and Russian led production curbs
 introduced in 2017 to be extended into 2019 in order to
 tighten the market.                 
 
 EMERGING MARKETS
 For the top emerging markets news, double click on
            
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 
 
 SOUTH AFRICA MARKETS
 South Africa's rand weakened on Thursday as investors
 treaded cautiously and booked recent profits ahead of
 Moody's review of the country's sovereign credit rating on
 Friday.            
 
 
 
 NIGERIA CENTRAL BANK
 Nigeria's senate approved the appointment of two deputy
 central bank governors and three members of the Monetary
 Policy Committee (MPC) on Thursday, giving the rate-setting
 panel sufficient numbers to meet for the first time this
 year.               
 
 
 
 NIGERIA BONDS
 Nigeria raised 64.06 billion naira ($210 million) at
 Wednesday's auction of government bonds           , less
 than it originally planned but at lower yields, traders
 said.            
 
 
 
 NIGERIA TELEOLOGY
 Teleology Holdings has agreed to buy 9mobile, Nigeria's
 fourth largest telecoms provider, the investment firm said
 on Thursday.                    
 
 
 
 NIGERIA SECURITY
 Islamist insurgents arrived in the northeastern Nigerian
 town of Rann on March 1. Ignoring the camp for 55,000 people
 displaced by the region's conflict, they stormed the nearby
 military base.            
 
 
 
 NIGERIA ECONOMY
 Nigeria needs to boost investment in social infrastructure
 to lift its population out of poverty and achieve a higher
 income status, billionaire Microsoft co-founder Bill Gates
 told Reuters on Thursday.                
 
 
 
 AFRICA TRADE
 Nigeria, Africa's biggest economy, signalled its opposition
 to a continental free trade zone, saying it would defend its
 own businesses and industry.            
 
 
 
 AFRICA CURRENCIES
 The Kenyan shilling, Ghanaian cedi and the Zambian kwacha
 are expected to gain next week. The Ugandan shilling will
 come under pressure.            
 
 
 
 KENYA MARKETS
 Kenya's shilling        rose to its highest in nearly five
 weeks on Thursday, helped by dollar inflows from investors
 abroad into the stock market, traders said.            
 
 
 
 KENYA ECONOMY
 The proportion of Kenyans living in poverty has fallen by
 10.5 percentage points in a decade, to 36.1 percent, the
 statistics office said on Thursday.                
 
 
 
 KENYA EQUITY BANK
 Kenya's Equity Group Holdings           doubled its rate of
 profit growth last year and expects its subsidiaries to make
 a bigger contribution to group profit this year, its chief
 executive officer said on Thursday.            
 
 
 
 BRITAIN CHAD/OIL
 British prosecutors will recover 4.4 million pounds ($6.2
 million) from a corruption case in which a Canadian energy
 company bribed Chadian diplomats in North America, the
 Serious Fraud Office (SFO) said on Thursday following a
 court ruling.                
 
 
 
 SOMALIA BLAST
 At least 14 people were killed in an explosion outside a
 busy hotel in Somalia's capital on Thursday that was
 followed by gunfire, police and rescue services
 said.               
 
 
 
 
 SOMALILAND GENEL ENERGY    
 Kurdistan-focused Genel Energy          might start drilling
 in Somaliland next year, Chief Executive Murat Ozgul said on
 Thursday, as the group reported 2017 results broadly in line
 with expectations.            
 
 
 
 ZIMBABWE MINING
 A Cypriot investor signed a $4.2 billion deal on Thursday to
 develop a platinum mine and refinery in Zimbabwe, an
 investment that President Emmerson Mnangagwa said showed the
 country was "open for business".                         
 
 
 
 CAMEROON POLITICS
 Cameroon's former water and energy minister was arrested in
 Nigeria and flown home on Thursday, a police source and
 local media said, amid a crackdown on high-level
 corruption.              
 
 
 
 ALGERIA MIGRANTS
 Algeria has repatriated 27,000 sub-Saharan African migrants
 since 2015 and will continue to send them back to their home
 countries despite criticism from rights groups, interior
 minister Nouredine Bedoui said on Thursday.                
 
 
 
 MALI SECURITY
 A U.N. peacekeepers' camp near Kidal in Mali came under
 mortar fire on Thursday, the U.N. mission said, shortly
 before a scheduled visit by the prime minister, the first to
 the northern city by a top government official for four
 years.            
 
 
 
 UGANDA MARKETS
 The Ugandan shilling        inched down on Thursday,
 undercut by strong demand for dollars from firms in the
 manufacturing and energy sectors.                
 
 
 
 UGANDA COFFEE
 Uganda's coffee shipments remained broadly unchanged in
 February compared with the same month last year, the
 state-run Uganda Coffee Development Authority (UCDA) said on
 Thursday.                
 
 
 
 SOUTH SUDAN OIL
 U.S. sanctions on 15 South Sudanese oil operators will work
 against efforts to restore peace and stability in the
 nation, the government said on Thursday.                
 
 
 
 RWANDA JOBS
 Mastercard Foundation, a private Canada-based charity, said
 on Thursday it will invest $100 million in Rwanda to train
 young people with skills in order to reduce
 unemployment.                
 
 
 
 GABON CRUDE
 Gabon plans to revise its hydrocarbons law to attract new
 investment, the oil ministry said on Thursday.            
 
 
 
 LIBERIA PEACEKEEPERS
 The United Nations closed its peacekeeping mission to
 Liberia on Thursday, 15 years after it was deployed in the
 aftermath of two civil wars that ended with the fall of
 then-president Charles Taylor.                
 
 
 
 MADAGASCAR CORRUPTION
 Former Madagascar finance minister Jean Razafindravonona is
 being held in pre-trial detention over misappropriation of
 public funds, the country's anti-graft office said on
 Thursday.                
 
 
 
 GHANA BOND
 Ghana scooped all 1.57 billion cedis ($356.3 million)
 tendered for a three-year domestic bond on Thursday and will
 pay a yield of 16.5 percent, joint transaction arrangers
 said.                
 
 
 
 SIERRA LEONE ELECTION
 Election authorities in Sierra Leone accused police late on
 Wednesday of intimidating staff and obstructing their work
 as they prepared for next week's presidential run-off
 vote.              
 
 
 
 ZAMBIA CORRUPTION
 A former Zambian cabinet minister who has repeatedly accused
 government officials of corruption will appear in court on
 Friday on corruption charges himself, a spokesman for the
 country's anti-graft agency said.                
 
 
 
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