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 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 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. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on
(0 votes) 0/5