NAIROBI, Jan 27 (Reuters) – The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Friday.
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GLOBAL MARKETS
Asian stocks rose on Friday and were poised for their fifth
straight week of gains after data highlighted a resilient U.S.
economy, boosting investor sentiment ahead of next week’s
slate of central bank policy meetings.
WORLD OIL PRICES
Oil prices edged ahead for a second session on Friday, buoyed
by stronger-than-expected U.S. economic growth and hopes of a
rapid recovery in Chinese demand as COVID-19 cases and deaths
plunged from last month’s peak levels.
EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa’s rand weakened on Thursday after the central
bank raised its main lending rate by 25 basis
points to 7.25%, less than expected by most economists polled
by Reuters.
AFRICA CURRENCIES
Kenya’s shilling, Zambia’s kwacha and Nigeria’s naira are
expected to remain under pressure against the dollar in the
week to next Thursday, while Ghana’s cedi and the Tanzanian
shilling will hold steady.
NIGERIA BANKS
Nigeria’s central bank on Thursday launched a domestic card
scheme to rival foreign cards like Mastercard and Visa, hoping
to enhance its drive to make Africa’s biggest economy a
cashless society and save the country foreign transaction
fees.
KENYA MARKETS
The Kenyan shilling eased on Thursday to a new all-time
low, undermined by demand for dollars from importers,
especially oil retailing companies, traders said.
KENYA SAFARICOM
The board of Kenya’s biggest telecoms operator Safaricom
has elected Adil Khawaja as its chairman, the
company said on Thursday.
GHANA DEBT
Ghana has reached an agreement with the country’s insurers on
a domestic debt exchange, taking it closer to completing this
programme, a key factor in restoring economic stability and
growth, the finance ministry said on Thursday.
RWANDA ECONOMY
The International Monetary Fund projects that Rwanda’s economy
will grow by 6.2% this year, accelerating to 7.5% next year,
Managing Director Kristalina Georgieva said during a visit to
Kigali on Thursday.
ETHIOPIA ECONOMY
The International Monetary Fund is looking for constructive
and meaningful engagements towards an IMF programme for
Ethiopia, Managing Director Kristalina Georgieva said during a
visit to Kigali on Thursday.
GHANA ECONOMY
The IMF has had very positive engagement with Ghana on the key
parameters for success in terms of fiscal policy, revenue
raising and managing spending more effectively, the Fund’s
chief Kristalina Georgieva said on Thursday during a visit to
Rwanda.
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