March 13, 2019 / 4:44 AM / 11 days ago

African Markets - Factors to watch on March 13

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.
    - - - - -
 EVENTS:
 *Zimbabwe finance minister to give update on government
 economic reforms
 *France's Macron gives news conference in Kenya
 
 
 
 GLOBAL MARKETS
 Asian share markets were mostly in the red on Wednesday as a
 risk-off mood gripped investors, while a frazzled pound
 awaited its fate ahead of yet another make-or-break
 parliamentary vote on Brexit.                       
 
 WORLD OIL PRICES
 Oil prices rose on Wednesday, pushed up by ongoing supply
 cuts from producer cartel OPEC and U.S. sanctions against
 Iran and Venezuela.                 
 
 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 on Tuesday, supported by renewed
 risk appetite after potential progress on Brexit in Britain
 and as the dollar weakened after U.S. consumer price
 data.            
 
 
 
 NIGERIA ELECTION
 Nigeria's ruling party took a close lead in elections for
 powerful state governors on Tuesday, although the final
 results hang in the balance as seven races were declared
 inconclusive or suspended.            
 
 
 
 NIGERIA OIL
 Nigeria's Nembe Creek Trunk Line has resumed pumping crude
 oil after closing down on Feb. 28, a spokesman for the
 operator Aiteo said, adding that the outage had been caused
 by an explosion.             
 
 
 
 
 NIGERIA ACCESS BANK
 Nigeria's Access Bank             said it has signed a
 $162.5 million subordinated syndicated loan which it will
 use to help support local businesses.            
 
 
 
 NIGERIA SECURITY/KIDNAPPING    
 Gunmen in Nigeria abducted a Lebanese construction worker
 and killed another man in the northern city of Kano on
 Tuesday morning, a police official said.            
 
 
 
 KENYA MARKETS
 The Kenyan shilling        weakened against the dollar on
 Tuesday reversing previous gains due to dollar demand from
 the energy and manufacturing sectors, traders
 said.            
 
 
 
 KENYA OIL
 Kenya's president signed on Tuesday a long-awaited petroleum
 bill into law to regulate oil exploration and production and
 outlining how revenues will be shared between the
 government, local communities and companies.            
 
 
 
 
 KENYA SAFARICOM/ANT FINANCIAL
 Kenya's Safaricom           said on Tuesday it had secured a
 deal to use its M-Pesa mobile payment service for online
 shopping on one of Alibaba's platforms, part of a move to
 expand its most profitable product beyond Kenya.            
 
 
 
 IVORY COAST COCOA  
 Cocoa arrivals at ports in top grower Ivory Coast reached
 1.539 million tonnes between Oct. 1 and Feb. 28, CCC data
 showed on Monday, up about 10 percent from 1.424 million
 tonnes in the same period last season.            
 
 
 
 UGANDA MARKETS
 The Ugandan shilling        weakened on Tuesday, hurt by
 demand from energy firms and other importers weighing
 against scant supplies.            
 
 
 
 
 UGANDA REFINERY
 Uganda approved Italian oil services firm Saipem's          
 plan for early engineering work on what is due to become a
 60,000 barrel per day refinery in the East African country,
 a nascent oil producer, Saipem said on Tuesday.             
 
 
 
 
 
 ZIMBABWE SOUTH AFRICA
 South African President Cyril Ramaphosa said on Tuesday his
 country was ready to help Zimbabwe revive its economy, but
 within its means, while the two neighbours consider options
 that could see Harare receiving some financial
 assistance.            
 
 
 
 ETHIOPIA FRANCE
 Ethiopia and France agreed their first military cooperation
 accord on Tuesday, a deal that includes helping the
 landlocked nation build a navy, as Paris seeks to boost
 economic ties in Africa's second-most populous
 country.            
 
 
 
 SOUTH SUDAN UN
 South Sudan's justice minister on Tuesday dismissed U.N.
 investigators' accusations that fighting and gang rape
 persisted in his country and called for $285 million in
 donations to fund peacemaking bodies.                
 
 
 
 CONGO VIOLENCE UN
 More than 500 men, women and children from the Democratic
 Republic of Congo's Banunu community were killed in attacks
 by Batende villagers in December, some beheaded and many
 slain as they tried to flee across a river, U.N.
 investigators said on Tuesday.                
 
 
 
 TANZANIA ECONOMY
 Tanzania plans to raise its total spending in 2019-20
 (July-June) slightly to 33.11 trillion shillings ($14.16
 billion), with the funds going towards improving roads,
 railways and rural electricity supplies, its finance
 minister said on Tuesday.                
 
 
 
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