January 11, 2019 / 4:45 AM / 5 days ago

African Markets - Factors to watch on Jan. 11

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Friday.
    - - - - -
 EVENTS:
 *Tanzania court due to hear challenge to government
 proposals to restrict political activity
 
 
 GLOBAL MARKETS
 Asian stocks inched up to five-week highs on Friday, after
 Chairman Jerome Powell reiterated the Federal Reserve will
 be patient about raising interest rates and news that trade
 talks between Washington and Beijing are moving to higher
 levels.                       
 
 WORLD OIL PRICES
 Oil slipped on Friday amid concerns over the outlook for the
 global economy, but output cuts agreed by major exporters
 underpinned crude prices and kept markets on track for a
 strong weekly climb.                 
 
 EMERGING MARKETS
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 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 
 
 SOUTH AFRICA MARKETS
 South Africa's rand held steady on Thursday, as
 disappointing economic data were offset by market optimism
 over U.S.-China trade tensions.            
 
 
 
 AFRICA CURRENCIES
 The Ugandan and Tanzanian currencies are expected to come
 under pressure in the coming week while those of Kenya and
 Zambia are seen remaining stable.            
 
 
 
 NIGERIA 9MOBILE/MTN GROUP
 Teleology Holding, a company led by former MTN Group
          executive Adrian Wood, has pulled out of Nigeria's
 9mobile just weeks after its $301 million takeover of the
 firm with a group of local investors, two people familiar
 with the matter said on Thursday.    
 
 
 
 KENYA MARKETS
  The Kenyan shilling        firmed against the dollar on
 Thursday due to low dollar demand from oil importers amid
 high liquidity in the local money market, traders
 said.            
 
 
 
 UGANDA MARKETS
 The Ugandan shilling        was unchanged on Thursday as
 appetite for hard currency from players in the interbank
 ebbed, traders said.            
 
 
 
 UGANDA BAMBOO BICYCLES
 At a workshop in Uganda's capital, Kampala, Noordin Kasoma
 measured and cut a length of bamboo. Within a few days, the
 24 inch piece of grass would be transformed into the frame
 of a bicycle.            
 
 
 
 CONGO ELECTION/TSHISEKEDI    
 For most of his life, Felix Tshisekedi lived in the long
 shadow of his father Etienne, a firebrand veteran opposition
 leader in and out of prison and government over the course
 of a near 60-year career until his death in
 2017.                
 
 
 
 ETHIOPIA METEC
 Ethiopia charged the former head of military-run industrial
 conglomerate METEC with corruption on Thursday, nearly two
 months after his arrest, as part of a nationwide crackdown
 on graft in the public sector.            
 
 
 
 
 ZIMBABWE AB INBEV 
 Global brewing giant Anheuser-Busch Inbev          will
 invest more than $120 million of its dividends and fees that
 are trapped in Zimbabwe in the central bank's savings bonds,
 its local associate said on Thursday.             
 
 
 
 
 ZIMBABWE ECONOMY/STRIKE
 Zimbabwe President Emmerson Mnangagwa's government on
 Thursday offered civil servants a 10 percent pay rise in a
 bid to avert widespread unrest, but this was immediately
 rejected by unions pressing for U.S. dollar
 salaries.                
 
 
 
 CAMEROON COCOA
 Cocoa bean arrivals at Cameroon's main port of Douala had
 reached 109,410 tonnes by November 16 from the start of the
 season in August, up from 98,614 tonnes the previous season,
 the cocoa regulator said on Thursday.                
 
 
 
 IVORY COAST COCOA
 Ivory Coast cocoa grinders processed 135,000 tonnes of beans
 by the end of December, up from 124,000 tonnes the previous
 season, data from exporters' association GEPEX showed on
 Thursday.            
 
 
 
 TANZANIA ACACIA MINING
 Acacia Mining          said on Thursday the Tanzanian
 government has fined the miner 300 million Tanzanian
 shillings ($129,143), two days after the government
 appointed a new mining minister, over allegations of
 breaching environmental regulations at its North Mara
 mine.                
 
 
 
 MOZAMBIQUE CREDIT
 The court hearing of former Mozambican finance minister
 Manuel Chang, who faces charges of fraud and money
 laundering, has been postponed until Jan. 18, a member of
 his legal team said on Thursday.             
 
 
 
 
 
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