Make Kitco Your Homepage

African Markets - Factors to watch on Sept 29

Kitco News

NAIROBI, Sept 29 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

- - - - - EVENTS: *ZAMBIA - Finance Minister Felix Mutati the 2018 national budget. Kenya and Uganda due to release consumer inflation data for September. Kenya also due to release second quarter 2017 gross domestic product data. *MAURITIUS - The statistics office expected to release an update of its 2017 economic growth forecasts. *MAURITIUS - The central bank to auction 91-day Treasury bills worth a total 600 million rupees. GLOBAL MARKETS Asian shares regained some poise on Friday after a tough week in which the gathering risk of a U.S. rate rise lifted Treasury yields toward nine-year highs and boosted borrowing costs across the region. WORLD OIL PRICES Oil prices rose on Friday, with both Brent and U.S. crude set to chalk up another weekly gain as investors bet that efforts to cut a global glut are working and that the demand outlook is improving. 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 recovered from five-month lows against the dollar in late trade on Thursday as the greenback paused its recent rally triggered by hawkish rhetoric by the U.S. Federal Reserve. AFRICA CURRENCIES Zambia's kwacha is expected to remain under pressure next week on increased dollar demand while the Ugandan shilling should firm on the back of inflows and reduced local currency liquidity. NIGERIA EUROBOND Nigeria hopes to issue a $2.5 billion Eurobond by mid-November, the head of the country's debt agency said on Thursday, the latest in a series of debt sales as it seeks to fund a record budget for 2017. NIGERIA POLITICS Nigeria's next presidential and parliamentary elections will be held on Feb. 16, 2019, the Independent National Electoral Commission said on its official Twitter account on Thursday. NIGERIA BANKING Nigeria's Fidelity Bank Plc has offered to buy back $300 million of debt and intends to issue new notes, aiming to extend the maturity of its debt profile, it said on Thursday. KENYA MARKETS The Kenyan shilling was stable on Thursday and traders said they were assessing the level of hard currency demand from importers to figure out its potential direction. KENYA POLITICS Kenya's ruling Jubilee Party on Thursday presented parliament with proposals intended to prevent the Supreme Court annulling the results of a coming re-run presidential election, as it did the last vote in August. CAMEROON POLITICS The government of one of Cameroon's Anglophone regions ordered its border with Nigeria closed this weekend in response to calls by activists for protests to demand more rights for the country's English-speaking minority. BURUNDI POLITICS The United Nations Human Rights Council agreed on Thursday to an African resolution to send a team of three experts to work with Burundi government in pursuing perpetrators of "deplorable crimes". For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on

Keywords: AFRICA FACTORS/

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.