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
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AFRICA STOCKS
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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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