African Markets - Factors to watch on April 7

Kitco Media
By Reuters
Published:
Updated:
Reuters
NAIROBI, April 7 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on . - - - - - GLOBAL MARKETS Due to the Easter holiday in several markets on Friday, April 7, there will be no GLOBAL MARKETS report MKTS/GLOB during Asian hours. WORLD OIL PRICES Oil prices were little changed on Thursday but posted a third weekly gain as markets weighed further production cuts targeted by OPEC+ and falling U.S. oil inventories against fears about the global economic outlook. 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


The South African rand weakened against the dollar on Thursday as investors awaited U.S. jobs data and its implications for the Federal Reserve's monetary policy.


KENYA MARKETS


The Kenyan shilling weakened against the dollar on Thursday, as manufacturers hunted limited supplies of foreign exchange, traders said.


AFRICA MARKETS


Kenya's shilling and Nigeria's naira are forecast to weaken against the dollar in the next week to Thursday, while Zambia's kwacha is expected to be stable, traders said.


SUDAN POLITICS


The head of Sudan's army said on Thursday he remained committed to a plan for a new transition towards elections, despite disputes over the integration of a paramilitary force that have twice delayed the signing of a final deal.


CHAD WORLD BANK


The World Bank approved a grant of $150 million to help Chad reduce the risks of flooding and strengthen urban planning, it said on Thursday.


UGANDA CORRUPTION


A Ugandan court charged a minister on Thursday with several corruption offences connected to accusations of diverting metal roofing sheets meant to help residents in the restive northeastern Karamoja region, court documents showed.


GAMBIA BIRD FLU


Gambian authorities have detected the highly pathogenic H5N1 bird flu on a wild bird reserve, the ministry of agriculture said in a statement seen by Reuters on Thursday, less than one week after neighbouring Senegal reported an outbreak of the disease on a poultry farm.


ETHIOPIA SECURITY


The Ethiopian government said on Thursday it intends to integrate all regional special forces either into the national army, or the federal or regional police, a move likely to be perceived as an attempt to diminish the autonomy of individual regions.


ZAMBIA DEBT


The next International Monetary Fund (IMF) payout to Zambia from a total loan of $1.3 billion is contingent upon its bilateral creditors reaching an agreement on a long-delayed debt restructuring, the Fund said in a statement on Thursday.


UGANDA RATES


Uganda's central bank on Thursday held its key lending rate at 10.0%.


GUINEA DRUGS


The West African country of Guinea has seized around 1.5 tonnes of cocaine from a Sierra Leone-flagged ship docked at the port city of Kamsar, state television said.


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