April 27, 2020 / 6:11 AM / a month ago

African Markets - Factors to watch on April 27

    NAIROBI, April 27 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Monday.
                          - - - - -
 GLOBAL MARKETS
 Asian shares bounced on Monday as the Bank of Japan (BOJ) 
 announced more stimulus steps to help cushion the economic
 impact of the coronavirus, while oil took another spill as the
 world ran short of space to store it all.            
            
 
 WORLD OIL PRICES
 Oil prices fell on Monday on signs that worldwide oil storage is
 filling rapidly, raising concerns that production cuts will not
 be fast enough to catch up with the collapse in demand from the
 coronavirus pandemic.                 
 
 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 rallied on Friday as markets cheered
 President Cyril Ramaphosa's move to open parts of the economy
 next month at the end of a five-week coronavirus lockdown,
 although some worries lingered about the details of the
 plan.             
 
 NIGERIA CENTRAL BANK
 Nigeria's central bank has collected 1.4 trillion naira ($3.9
 billion) from banks with excess cash holdings as part of
 measures to support the currency, banking sources told
 Reuters.            
 
 KENYA MARKETS
 The Kenyan shilling        was under pressure on Friday due to
 uptick in dollar demand from the energy and telecommunications
 sector amid little foreign currency inflows to offer support,
 traders said.            
 
 KENYA BANKS
 Egypt's Commercial International Bank (CIB)           has
 acquired a 51% stake in Kenya's Mayfair Bank, the Kenyan central
 bank said on Friday, the latest in a string of deals in the East
 African nation's banking sector.            
 
 ANGOLA OIL
 Angolan state oil company Sonangol said on Friday it has opened
 a public tender to sell its stakes in some private firms as part
 of a government bid to privatise key state assets including
 parts of Sonangol itself by 2022.                   
 
 BOTSWANA ECONOMY
 Botswana's economy will shrink by around 13% this year while its
 budget deficit balloons due to the impact of the coronavirus on
 its diamond industry, Finance Minister Thapelo Matsheka said on
 Friday.            
 
 ZAMBIA BUDGET
 Zambia's budget has been thrown into disarray by the economic
 blow from the coronavirus outbreak and the government needs to
 take action to support businesses, President Edgar Lungu said on
 Friday.            
 
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