February 7, 2018 / 4:48 AM / 14 days ago

African Markets - Factors to watch on Feb. 7

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.
    - - - - -
 EVENTS:
 *Zimbabwe's central bank governor John Mangudya to present
 monetary policy
 
 *Rwanda's finance minister presents revised budget in
 parliament    
 
 GLOBAL MARKETS
 Asian share markets were trying to find their footing on
 Wednesday as a semblance of calm returned to Wall Street
 where major indices bounced into the black after days of
 deep losses.                       
 
 WORLD OIL PRICES
 Oil prices rose on Wednesday amid a share market recovery
 and supported by a report that U.S. crude inventories fell
 last week, although analysts warned that soaring U.S. output
 and a seasonal demand drop could soon weigh on
 crude.                 
 
 EMERGING MARKETS
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 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 
 
 SOUTH AFRICA MARKETS
 South Africa's rand firmed against the dollar on Tuesday as
 the market positioned for the possible removal from office
 of President Jacob Zuma, while share prices hit a four-month
 low as the global stocks rout intensified.            
 
 
 NIGERIA STOCKS
 Nigerian stocks dropped to a one-week low on Tuesday, its
 second day of losses as demand for equities waned ahead of
 an earnings season due to start in three weeks, traders
 said.            
 
 
 KENYA MARKETS
 The Kenyan shilling        strengthened to a 15-month high
 against the dollar on Tuesday due to increased dollar supply
 from offshore investors buying government bonds and subdued
 demand from oil importers and manufacturers, traders
 said.            
 
 
 KENYA POLITICS
 A Kenyan opposition politician was charged with treason on
 Tuesday over the symbolic presidential "swearing in" of
 opposition leader Raila Odinga, reigniting street protests
 in which one person was killed.            
 
 
 GHANA GRINDER
 Ghana's distressed Cocoa Processing Company (CPC)         
 is in talks with creditors to restructure its $20.5 million
 debt due to be paid after 5 years, its managing director
 said on Tuesday.                
 
 
 WEST AFRICA COCOA
 West Africa is meeting an ever larger share of the world's
 booming demand for chocolate, as other cocoa-growing regions
 in the Americas and Southeast Asia see crops stagnate and
 farmers move into other areas, Cargill's           Africa
 director said.    
 
 
 BISSAU POLITICS
 West African regional bloc ECOWAS hit 20 Guinea-Bissau
 politicians and businessmen with sanctions, including travel
 bans and asset freezes, on Tuesday, accusing them of
 undermining efforts to resolve a prolonged political
 crisis.            
 
 
 UGANDA MARKETS
 The Ugandan shilling        was trading stable on Tuesday,
 amid thin appetite from both commercial banks and
 merchandise importers.            
 
 
 UGANDA REFUGEES
 Uganda is investigating allegations that its officials
 defrauded donors by inflating refugee numbers and diverting
 food aid, the prime minister's office said on
 Tuesday.                
 
 
 SOMALIA TRIAL
 A Somali military court on Tuesday sentenced to death a man
 convicted of driving a truck bomb as part of a deadly attack
 that killed more than 500 people in the capital, Mogadishu,
 in October, the national news agency reported.            
 
 
 SOUTH SUDAN PROTESTS
 Hundreds of protesters massed outside the U.S. embassy and
 U.N. headquarters in South Sudan's capital on Tuesday,
 chanting slogans against an arms embargo imposed by
 Washington, before some attacked journalists at the
 scene.                
 
 
 CONGO BELGIUM
 The Democratic Republic of Congo has ordered Belgium to
 close a consulate and cut flights by Brussels Airlines,
 Belgium's foreign ministry said on Tuesday, in a further
 deterioration of relations between Belgium and its former
 colony.                
 
 
 ZIMBABWE TSVANGIRAI
 Zimbabwe's main opposition leader, Morgan Tsvangirai, is
 critically ill in a South African hospital and his
 supporters should "brace for the worst", a party source with
 knowledge of his condition said on Tuesday.                
 
 
 ZIMBABWE MINING
 Zimbabwe has the potential to be a leading producer of
 lithium, which has so far attracted more interest than any
 other of its minerals, Zimbabwe's new Minister of Mines and
 Mining Development Winston Chitando said on
 Tuesday.                
 
 
 ZAMBIA RAILWAYS
 South African freight firm Calabash Freight will start using
 the Tanzania-Zambia Railway Authority (TAZARA) line under an
 agreement aimed at maximising the line's usage, the rail
 company said on Tuesday.             
 
 
 MALAWI DROUGHT
 Malawi has banned maize exports and is considering
 restocking its national grain reserves after crop-eating
 armyworms and a drought left the country's staple grain crop
 damaged, Agriculture Minister Joseph Mwanamvekha said on
 Tuesday.            
 
 
 
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