Dec 23 (Reuters) – The following company announcements, scheduled economic indicators, debt
and currency market moves and political events may affect African markets on Friday.
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* Mauritius releases Q3 growth figures and updates 2016
and 2017 growth forecasts
Asian stocks stepped back in subdued trade on Friday as Wall
Street took a breather from its relentless rise since the
U.S. election, while the dollar hovered below the 14-year
high set earlier this week.
WORLD OIL PRICES
Oil prices slipped on Friday in thin Asian trade ahead of
the Christmas and New Year holidays, eroding some of the
gains in the previous session as traders took profits.
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SOUTH AFRICA MARKETS
South Africa’s rand eased slightly against the dollar on
Thursday and traders expected it to drift sideways for the
rest of the week, driven mainly by position-squaring ahead
of the yearend and an extended long weekend.
Stocks also stumbled, following Asian shares lower in
holiday-thinned trade. Monday and Tuesday next week are
public holidays in South Africa.
The Kenyan shilling was stable against the dollar on
Thursday in spite of demand from retail importers buying
dollars to stock shelves for the festive shopping period,
Strife-torn Burundi will increase public spending by 5.3
percent next year despite a cut in aid from donors linked to
political turmoil, according to a budget passed in
parliament on Thursday
NIGERIA WATER CRISIS
Nigeria’s commercial capital Lagos faces a water crisis that
is creating unacceptable conditions for millions of people,
a U.N. expert said on Thursday, but an official in the
megacity said spending was being increased to alleviate the
The reopening of western Libya’s main oil pipelines puts
ambitious production targets within reach, but the shadow of
an unresolved conflict and the risk of new blockades hang
over potential output gains.
Congo authorities swept through the southeastern mining hub
of Lubumbashi on Thursday making dozens of arrests, local
activists said, after at least 34 people died in protests
against President Joseph Kabila.
Volkswagen plans to start a ride-hailing service
in Rwanda in a sign of how the German carmaker is developing
pay-per-use transportation models in new markets where rival
Uber has not yet gained traction.
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